***TST's Official "Boring" Thread, Part Deux***

[Snoozie]

Delco sucks!

[crazyduckme]

Originally Posted by piku

And angelo.. and everyone else. people act like if they aren't singled out they aren't invited but imho if you discuss it in the whatever thread, it's open. I'll show up and ruin all y'all's days ;)

lol i get invited to parties. not random outings. mainly b/c pretty sure everyone knows I go to bed early haha. Waking up at 4:30 isn't fun!

[piku]

Originally Posted by jpalamar

You can't call anything profit until the house is paid off and you have recovered all moneys put into it IE down payment/closing costs, taxes, insurance, repairs/tools/lawnmower/ect, interest, higher electric bill/water/sewer. Thats takes a long ass time. Think of how much money you would actualy have if you got an apartment, and put the difference between home ownership and renting into even a low interest CD or bonds... in 15-30 years you think you would have more equety in your house then money in the bank that is invested? You think at the end of the day you would have more money because you have a house and other person has alot of investments that he can change from CDs/bonds to higher interest IRAs, stocks, ect.

How is rent going up any different from taxes going up during home ownership?

I agree that too many people get more then they can afford. That was the biggest problem with banks in the past. My bank would give me any amount of money I would ask for, no questions asked... now they look at my income and say f' that. It is a good thing to a point, but I actually think they are playing it a little on the too safe side. Once the banks settle and refine their formulas for risk/profit I think it will be a great thing.

Dude you're right that you have to part with more money now than later but that's how investments work. What are you gonna do. The point of my little article is that in the long run it DOES make sense. CD's, etc are all much lower return than the 12% average of the market and home ownership will most likely beat that in the long run (even on a normal non-bubble trend which is what we are resetting to). For investment property hte picture is less clear, but for your primary residence, it's VERY clear. Unless you would be living in a tent for free otherwise, it does make sense.

[crazyduckme]

Originally Posted by snoozie

delco sucks!

[Big_Jim]

NE Philly is where its at, why you may ask? because i'm there.
hahahaha

[piku]

Originally Posted by crazyduckme

lol i get invited to parties. not random outings. mainly b/c pretty sure everyone knows I go to bed early haha. Waking up at 4:30 isn't fun!

I wish I could be a night owl again. I used to go to work like 6pm to 3-4am and then go home and chill on the computer until like 6am. That was the life. The only problem is that the shift changed to day shift sometimes too and it really started to make me feel weird and warped due to the changing the sleeping schedule.

[crazyduckme]

Originally Posted by piku

I wish I could be a night owl again. I used to go to work like 6pm to 3-4am and then go home and chill on the computer until like 6am. That was the life.

I'm a night owl on occasion. Like tonight... i'm sure I'll be out a while. I have a huge quizzo team tonight and I'm excited!!

[piku]

Originally Posted by jpalamar

Do you think 30 years down the road you would have more money in the bank after you sold your home even if it appreciates at a reasonable rate(not the crazy double diget crap that led to the housing crisis in the first pace) factored all the bills that you wouldn't of had if you rented, then someone who rented and put the money they saved each month into investments?

What are these bills you speak of? Who is the magical fairy who pays for your trash removal when you rent? It's not the landlord, it's YOU. It's factored into your rent. So are the property taxes. So are everything. You are NOT saving renting. YOU pay for that ****. Unless the house is a TOTAL lemon you don't win by renting. And even then, if your house is a total lemon and people are always there fixing ****, did you really win?

Renting has only one advantage. Simplicity. It's easy. There is NOTHING to worry about. That's worth $$$ to a lot of people.

[DownforceTom]

We need another group trip to hooters.

[Big_Jim]

need to go somewhere better than hooters. those chairs suck.

[AutobahnRacer]

Wooohoo! I figured out what that annoying sound was on my car. The auto-tensioner is going bad. Good thing I caught it before it totally died.

[FazdaGt]

All of this home talk.... someone should buy mine!


I'm tired of a big old house.

[HickRocket1258]

Originally Posted by crazyduckme

I feel like the delco kids are always left out. we're far from everyone hahaha.

This Chester County person feels left out. I'm not close to anyone here.

[piku]

You know renting should win in one situation. Apartment buildings. There is one maintenance guy for a whole building, they can buy appliances in bulk and save, the building should be cheaper as a whole because it's concentrated on less land and since there is a much lesser percentage of exterior walls it should be cheaper to heat and cool. The electric and utilities are bulk rate, so can be cable and internet.

The reality is that even studios even in rural areas are $600+ (best case scenario, usually more like $1000). Nope, doesn't make sense. Those building owners must make money hand over fist.

[piku]

Originally Posted by Big_Jim

need to go somewhere better than hooters. those chairs suck.

crapplebees!

[piku]

I guess I'll put this out too, it all boils down to risk. When you rent your costs are fixed monthly. There can be no surprises so you don't have to save. Since someone else (your landlord) is taking the risk, you are lining his pockets with profits and money to save for fixing ****. As a homeowner you might get slammed with a $10,000 bill to replace the HVAC or the roof. As much as that hurts, if you're saving because you bought as cheap of a house as you can stand, you'll be ok. But you have the risk.

The same thing applies to cars too. People buy new cars to get on fixed monthly payments. Nice new car, $299 a month. No risk of breakdown due to warranty and no risk of big bills. But my old fart car in its worst year will not need $3588 in repairs so although that $2000 transmission replacement seems awful and makes you feel like you're "spending too much keeping the old girl running" you're just not. You're just taking more risk and you need to have money for sudden expenses. It's literally the exact same scenario.

Much smarter people than myself have calculated this risk which is why things cost what they cost and why your savings account is **** for interest compared to a CD, which is **** compared to the stock market. Increase the risks or penalties and increase your return.

[piku]

dammit emails like this make me want to make stupid financial decisions http://www.bmwusa.com/Standard/Conte...OGb3RU6V9fjnk=

[FazdaGt]

Originally Posted by piku

I guess I'll put this out too, it all boils down to risk. When you rent your costs are fixed monthly. There can be no surprises so you don't have to save. Since someone else (your landlord) is taking the risk, you are lining his pockets with profits and money to save for fixing ****. As a homeowner you might get slammed with a $10,000 bill to replace the HVAC or the roof. As much as that hurts, if you're saving because you bought as cheap of a house as you can stand, you'll be ok. But you have the risk.

The same thing applies to cars too. People buy new cars to get on fixed monthly payments. Nice new car, $299 a month. No risk of breakdown due to warranty and no risk of big bills. But my old fart car in its worst year will not need $3588 in repairs so although that $2000 transmission replacement seems awful and makes you feel like you're "spending too much keeping the old girl running" you're just not. You're just taking more risk and you need to have money for sudden expenses. It's literally the exact same scenario.

I replaced my Furnace, and my roof this year....total out of pocket cost was under $2k for both.

Being a homeowner doesn't HAVE to be expensive. I bought pizza and beer, called in a few favors, used any connections I had to get discounts on materials and went to town.

I know not everyone is handy, but saving $10k sure makes it worthwhile.

[DownforceTom]

Originally Posted by Big_Jim

need to go somewhere better than hooters. those chairs suck.

Either way, let's go do something.

[jpalamar]

I would love to have someone who is really good with finance/investments/mortgages to do a side by side comparision.