nytimes.com — In much of the country, including large parts of the Northeast, California, Florida and the Southwest, recent home buyers have faced higher monthly costs than renters and have lost money on their investment in the meantime. It’s almost as if they have thrown money away, an insult once reserved for renters.
Apr 12, 2007 View in Crawl 4
silverchrysalisApr 13, 2007
best of luck to you and your wife if you do go.
diggeraltoolzApr 13, 2007
Rent is money paid out that you will never see again. A house payment is money paid out that can be partially recouped if you decide to live somewhere else. If you are trying to get ahead financially, renting is not the way to do it.
hosalabadApr 13, 2007
Never ever rent when you can buy. Why line someone else's pockets when you can build equity.
afreytApr 13, 2007
Basically a mortgage is renting from the bank. That is the easiest way to compare the prices. Do you want to rent from the bank and be responsible for the bank's house, or let your landlord do it for you and get interest on the difference, if there is one. But the system is going to tend towards equilibrium, so if rents are lower than owning, expect rents to come up and house prices to drop. If owning is cheaper than renting, expect rents to go down and costs of houses to rise. With the subprimes crises right now, expect rents to go up and house prices to come down, as people get forced into the opposite markets. But if you can wait, a new equilibrium will be reached, and if you're going to be in an area for a few years, its probably a good time to buy.
gomezfreakApr 13, 2007
That's actually good advice, and it is also my situation. A fixer upper can be anywhere from 10-20k below market in that particular area. If you can do the work yourself, you will end up will a very nice place at a fraction of the cost, and with better materials than if you paid someone to do it. Just remember, when you finish the work have your insurer come out and reappraise your house so they can adjust your policy accordingly.
sinurgyApr 13, 2007
"If I were to pay $1800 a month for a mortgage and even if that house depreciated a percent or two I will have built tens of thousands of dollars worth of equity five years from now."Digg really needs to add one of those smiley faces that laughs and then starts pounding on the ground and shaking it's head. Tens of thousands worth of equity in 5 years. :roflol guy:
sinurgyApr 13, 2007
Buying a house in a market that is sitting on possibly the biggest bubble in the modern history of real estate is just plain stupid!!! If you're thinking of buying a house right now, do ourself a favor and wait a year or two. Many of the people on here are acting like fools and seem to be ignoring the fact that we are no where near a normal market right now. I'm starting to think most of them have probably already bought and are just trying to make themselves feel better.
Closed AccountMay 13, 2007
<a class="user" href="http://www.myhotpeeps.com">http://www.myhotpeeps.com</a>
kidukaApr 2, 2008
Well my momma always told me to buy what i can afford :DAdvice related article: <a class="user" href="http://hubpages.com/hub/State-Farm-Insurance-Advice">http://hubpages.com/hub/State-Farm-Insurance-Advic ...</a>
406391911Jul 22, 2008
Hallo: The following is the recommendation for your warm home during Beijing Olympic Games 2008. I am a Beijing citizen and owned an apartment for rent during the Olympic Games in 2008 in August or longer short period. Apartment description : The house is On the 2nd floor. with 1 bedrooms, 1Kitchen ,1 living room with dining room, and 1 bathroom. Comfortable house is close to the bus stations (three minutes walking) and convenient to reach any Olympic Stadium (20 minutes to Beijing National Stadium (Bird's Nest) and 20 minutes to Olympic village by car). It is also close to public transportation and shopping centers, and close to a beautiful park. The apartment are fully and well furnished with new appliances: Cable/Satellite TV System, air condition, refrigerator, washing machine, integrated kitchen cabinet, dinning table, water heater etc. There are banks, restaurants, modern shopping centre and Carrefour nearby. 24 hours security guard and water & electricity guarantee your safety and convenience. You will not find an apartment this beautiful for this price in the area.In addition-15 minutes driving distance to TianAnMen or WangFuJing street -35 minutes driving distance to the airport -Airport pickup for free(1-3persons) Rent requires: At least 7 days in for rent Pay all once and earnest under discussion Please order early.Rent price: For august and September ? 1500RMB per day or 200?Contact: 0086-13681240815, Ms WU Email: gjlzhm@yahoo.com.cnThank you very much and welcome to Beijing, China