Home ownership is overrated

The Lounge General You are using an out of date browser. It may not display this or other websites correctly.You should upgrade or use an alternative browser. Is home ownership overrated? Thread in 'General' Thread starter Started by flyny, Start date Start date Jun 29, 2016 #26 Joined Jun 4, 2008 Messages 12,660 Reaction score 5,290 Ima lease these whips and rent these apts till I die, papi.Owning a home is cool when you decide to raise your family in the middle of nowhere.That's not the life I want though. #27 Joined Mar 5, 2008 Messages 12,357 Reaction score 12,371 alot of these home owners lost their shirts during da housing collapse, so owning isn't da all end be all. That's cause the banks were loaning them more money than they could ever afford to pay back.Home ownership, depending on location, is much better than renting. #28 Joined Dec 29, 2008 Messages 68,176 Reaction score 24,540 it's all preference I want nothing to do with home ownership until I settle down and get married #29 Joined Jan 22, 2015 Messages 10,005 Reaction score 3,288 For the most part its overrated, you're isolated and lonely as hell in the house and don't live with anyone. No social life, no friends around. Communal living> Home ownership #30 Joined Jul 18, 2012 Messages 8,837 Reaction score 4,739 i want to be like the owner of zappos, who lives in a trailer but owns the lot the rest of the properties are on... #31 Joined Dec 1, 2011 Messages 4,323 Reaction score 4,705 For the most part its overrated, you're isolated and lonely as hell in the house and don't live with anyone. No social life, no friends around. Communal living> Home ownership Owning a house prevents you from having roommates, inviting friends over, and going out? Houses in the middle of the city are isolated? #32 Joined Jan 22, 2015 Messages 10,005 Reaction score 3,288 Owning a house prevents you from having roommates, inviting friends over, and going out? Houses in the middle of the city are isolated? #33 Joined May 4, 2011

Rewarding, an achievement that should be recognized, but it is not an investment. It is a luxury. Last edited: Jun 29, 2016 #41 Joined Feb 8, 2014 Messages 17,129 Reaction score 8,043 Home ownership is fine as long as u can handle the unexpected surprises..and have plenty of reserves in the bank #42 Joined Mar 8, 2001 Messages 7,004 Reaction score 522 Keep thinking that ownership is overrated.More rental income for me.factoids Owning will always be >>>>> than renting. Especially owning multiple properties. Always? thinking like that led to the last housing bubble burst.I don't think home ownership is overrated. I think buying a home to live in is not necessarily a great investment, financially. #43 Joined Jul 18, 2012 Messages 20,396 Reaction score 14,184 This is a very naive way of thinking about home ownership.Paying $200K over the course of 30 years to own the property is great in comparison to paying $500K in rent and having no equity/property to show for it after 30 years. Not to mention the differences in taxes, the ability to increase equity and value by renovating, etc. You don't ever own the home though, the government does. You are still paying rent (property taxes) That doesn't make sense....if you have a car that's paid off, you're still paying a county vehicle tax (depending on where you live). Do you still consider that car yours at the end of the day? Last edited: Jun 29, 2016 #44 Joined Aug 22, 2012 Messages 8,901 Reaction score 7,733 That doesn't make sense....if you have a car that's paid off, you're still paying a county vehicle tax (depending on where you live). Do you still consider that car yours at the end of the day? Well, now that you put it like that no Still, paying 50-300 bucks a year. Better than paying 3-5k a year. #45 Joined Dec 1, 2011 Messages 4,323 Reaction score 4,705 Keep thinking that ownership is overrated.More rental income for me.factoids Owning will always be >>>>> than renting. Especially owning multiple properties. Always? thinking like that led to the last housing bubble

Democratic) saw rents rising, while two red states and nine blue states experienced falling rents.The highest rent increases over the period including North Dakota, up 32.9 percent; New York, up 24.8 percent and Massachusetts, up 23.5 percent.Rents fell most in Nevada, down 8.6 percent' Louisiana, down 7.4 percent and Missouri, down 4 percent.Montana, South Dakota, Vermont, West Virginia and Wyoming were not included in the study due to unavailable pricing data.More findingsThe survey of renters also found:• Twenty-four percent of renters plan to be renters for the rest of their lives. They'll never benefit from the tax shelter or investment returns home ownership can provide over time.• Forty-seven percent believe renting is smarter than buying a home right now. To the contrary, while rents are rising, home prices are as low as they been in years — but on the move. Buying now means hitching your wagon to appreciation and home equity.• Thirty-two percent said landlords have hiked their rent in the last 12 months.• Forty-four percent expect a rent increase in the coming 12 months.• Unfortunately, 57 percent of renters expect their income to remain flat or decline in the coming 12 months.• Also, 37 percent say home ownership is overrated and is not an important life goal. Some of that is a matter of opinion. Some of it is a matter of fact. It really depends upon the individual household.Other related articles:Foreclosures: The unnatural disasterHomeownership elusive more than 10 years after foreclosure'Shadow inventory,' national election, weather keeping consumers from low interest ratesUnderstanding Mortgages: Sell or Rent?Understanding Mortgages: Buy or Rent?More renters becoming first time home-buyers, but most 'boomerang' back to parentsShould you be buying or renting your home? Fannie Mae & Jumbo Mortgage Rates Just One Click! = Current Rate Chart Start by selecting your state

Burst.I don't think home ownership is overrated. I think buying a home to live in is not necessarily a great investment, financially. No, overlending and failure to ensure that people could actually afford their homes is what caused the housing bubble to burst. It wasn't caused by the people who aspired to own homes, but rather the agencies who engaged in predatory lending instead of just lending what people could actually afford. Last edited: Jun 29, 2016 #46 #47 #48 #49 Joined Jul 18, 2012 Messages 20,396 Reaction score 14,184 That doesn't make sense....if you have a car that's paid off, you're still paying a county vehicle tax (depending on where you live). Do you still consider that car yours at the end of the day? Well, now that you put it like that no Still, paying 50-300 bucks a year. Better than paying 3-5k a year. But you're right on the property tax tho...my parents were sitting on a few acres in rural VA. Taxes were eating them alive on the property. They sold it for a good chunk of change tho. #50 Joined Sep 10, 2013 Messages 14 Reaction score 12 Right now, its starting to seem like it... A bunch of unexpected repairs you have to fix on your own If you have a bunch of bread and can afford renovations to upgrade and whatnot, I guess it would be cool. The Lounge General