Yes, of course they are scum. Nobody rents here and everyone owns million dollar houses.

I know a few people who do this as well. My one buddy has 10 rental properties and lives in a tiny 1 bedroom with his bulldog.

I miss being a renter. Im stuck in a condo that the value dropped like a fucking rock. Im on the board its like having an extra job with no money and no one is grateful.
I like renting, I was a great tenant my landlords would do any thing I asked. And the handy man got gifts so whatever I needed it was done.
When I rented the ac unit blew it was replaced with brand new and it cost me a nice bottle of scotch. Two yrs ago a unit went for me kiss 3k good bye.
We went to LA love it, if I was a renter I would be living there now.
But I got the big fucking anchor so im stuck here.

There ya' go, renting ain't all bad tony286 (and counting), Sorry y'all got caught up in the 'upside down' turmoil. After 10+ yrs of renting I totally understand the 'handyman+scotch' approach to finer living. :upsidedow

even then, it's still rented.

try not paying property tax. the property you think you "own" will be taken from you.

One of my friends clears 20k after taxes through his company and still rents.
Lots of different reasons to rent.....

:2 cents::thumbsup
and mobile. If I want to move I can with very little hassle... other than the actual move

:) How some people dont understand the power of a little grease. I will never know. One place I lived, the handyman came fixed a light switch. The guy responded quickly, was neat,had a big smile on his face and I gave him 20 bucks. The next time I called about a sink leaking, it probably a small gasket. I left a 20 taped to the wall next to the sink. When I came home from work, they replaced the whole sink for me. lol

Lol why the hell would I want to own an overinflated piece of property? Especially in North America.

You guys who wanna be "mr caregiver" to your families go ahead and get a home. Have fun when the price plummets.

Bryan---you always seemed like you had your shit together.

Also depends on family situation. If your young and married and planning to have kids it better to pick a good school district area and buy.

I'm also in a situation where my son in college and my daughter is in 11th grade. I have 2 years left and plan to move so its stupid to buy. Evn if I bought where I want to move in 2 years it makes no sense cause i may pay less 2 years from now lol

i move from city each year, impossible not to rent

There is more houses for sale then buyers. And its impossible to get a mortgage. Its never been this bad. You must be +20% down with 750 credit.

Say property your buying is 400k. Your need 80k down + taxes and closing fees. Its plus 90k. 7 years you go to sell property you might have to take less. And all the money you put into it. then everything in house must be up to date to sell. you have to fiz up a place to sell it. here is the part that makes you vomit. Take that 90 and buy a mutual fund and in those 7 years it might be worth 300k.

ANSWER......RENT......unless your a family staying put for 15-20 years

The United Nations plans to nationalize ALL private property, particularly privately owned land. They are incredibly powerful and will eventually get their way even if it takes 30 or 40 years

Fourth bullet point down http://www.un-freezone.org/

You can Google too, there's plenty of info out there on this and on why they plan to do it

I own my own property, and I think renting is throwing money away -- but at least a renter isn't tied down to anything.

I own a place, but I rent a different place to live in. It allows me to MOVE when I want with no BS. I give 30 days and I'm out. This papa is a rolling stone. FREEDOM.

$owninghome = "renting from the government";

I don't know I'm torn
we're upside down on the condo
yet renting seems like throwing money away

:thumbsup :thumbsup

Owning property isn't the problem, it's people's attitudes towards property and living.

I live in a mobile trailor and park in the mans street everynight,fuck em

Exactly!

Considering there's a lot of business savvy folks here, I'm surprised it took to reply #56 before someone mentioned the government really owns everyone's home...

While it's true that in some places property taxes are still nominal, in many others, such as southeastern Pennsylvania where I live, property taxes are quite steep ($5,000-$7,000 year is common on modest $150K-$200K homes), and continue to rapidly increase, especially the school district portion.

Also, there are other government mandated fees (as in not paying can result in loss of property) that can be far larger than one would imagine, in particular, water and sewer.

In Reading, PA there are many people living in small row homes paying $150+ per month for water/sewer, though that's a bargain compared to what some families in Birdsboro, PA who pay upwards of $500 per month!

And then are various new government mandates and fees coming down the pike, including, in Pennsylvania, a new law requiring municipalities to install expensive filters on all storm drainage basins, plus additional labor to inspect and change filters on a regular basis - many small municipalities in PA will be facing bills nearly as large as their entire annual budgets to comply - currently the law is on hold, but likely for not long. Much of those costs will passed on to home owners in the form of higher property taxes and/or water/sewer rates.

Another proposed law making its way through, such as Reading, PA, would require all property owners, including residential, to pay a "rain runoff" tax based on the square footage of property covered with structures, parking lots, etc.

Homeowners are easy tax targets, since many have bought the "American Dream" nonsense while many others realize it's a crock, but are "trapped" and have little choice other than to raid their retirement, take out loans, etc to "save" their home, which, to reiterate, is a misnomer, since the government really owns it.

Ron

Correct, but try to convince Robert Kiyosaki.

He is a Hawaian idiot who says that buying properties is a bad business and he prefers to rent and invest that money in stocks with guys like MADDOFF. Funny.

Also, people who rent here in my building suck... they don't take care of things like we, owners do, they just don't care about the apartment and building in general. They think that by paying the rent, they can destroy the apartment. A bunch of motherfuckers, seriously.

.

BTW, I can't believe how cheap PROPERTIES in USA are right now...

A nice 3 room in MIAMI, near the BEACH is cheaper than a 3 room in a marginal Ugly zone of a 3rd World country... Incredible.

.

Owners want to keep the neighborhood nice, long term outlook on life.

Renters could care less and will just move on.

Homeowners look out for each others property.

Renters mind their own business.

If there is car broken into on the block, it must be those scumbag renters....

My area is full of professional people that rent. Not everyone can buy even with the prices dropping.
http://realestate.yahoo.com/California/Hermosa_Beach

Yes renters are the scum of the earth. My servants are probably renters and I often flog them when they don't wear their white gloves. How many times do I have to keep reminding them. Bah. Maybe I won't pay them this month. Let them eat cake..

I knew I'd rent for about another 5 to 6 years. I set it up that way because I knew I'd be moving around. I also knew I'd want the freedom to move around. I will eventually want to sit in one spot for more than 5 years, but not right now. Besides, I haven't seen enough spots yet to know what spot I want to sit in.

Had I known the market was going to blossom like it did I would have bought back in 2004 and sold in 2007 for double the price. But I made a lot more in those years then I would have made on the house anyway so I don't feel like whoa is me about it.

Nice tax advantages to owning!

I feel sorry for you if you judge people/your friends/relatives based on if they rent or own. I don't give a fuck what people in my environment do, I care if they are good ppl or not. Financial situation of a family - in most cases - has nothing to do with they are nice/enlightened parents or not.

Here rent is fucking cheap compared to property prices. Or better said property prices still didn't hit the bottom so we rather rent and look down on stupid property owners for being as dumb as renting and pulling in like 3%, rather than selling with a discount and banking in.

Not everything is dirt cheap as in the states.

Oh no...!

Here we always had 30%+ down, that's why we don't have the foreclosure BS going on in the states. Way less toxic loans. You actually need a bit more to insiure the loan here rather than just a property alone, but hey, who told you to go buy a 400k property if you can't find insurance for that other 30%. Think banks are stupid and should just lend like there's no tomorrow? We all saw how that worked fine.

And 90k turning into 300k in 7 years while you are incapable of coughing up 90k? Wow... Turbo loan wishes, turbo profit wishes... fucking nice. Let the financial gods have mercy on you.

You already anticipate you may get back less in 7 years and you whine why banks won't take the whole property as a single insurance.

Alrighty then...

That would depend on your lifestyle. If you are staying put in that place for many years to come, maybe renting is a bad idea.

I know quite a few property owners who purchased at the price peak who now wish they were renters for the past few years

As far as people with these piece of shit renters. Maybe you got to screen them and not pick the first warm body who shows up? I always respected where I lived because it was my home at the moment. The lady two doors down from me and has been renting that condo for 18 yrs. The guy across street rents his out to a nice couple that have been there for ten yrs.

the whole "renter's are less than human" crap is just a bad stereotype with very little basis in reality, as any responsible renting adult will attest to.

i can understand most of the rest, but "couples"? Aren't you eliminating a massive group of perfectly reasonable potentials?

When I rented out my house, the first renters were scum of the earth, they broke their lease and did over 10k in damage to the house, thank god for good insurance. The present renters are awesome, been there for a couple years, always pay ontime.

hmmm, i guess....
every lease i ever signed with an "other" held both of us responsible for the full rent, regardless if one of us left. But, i suppose that only good if it's enforceable.... in (generally speaking, not directed at you) low rent studios I imagine that might be hard to track them down in the event of lease breakage.

foreclosures situation in USA happened cause banks were giving out stupid loans. . You have 20% to put down and most likely your getting the mortgage as long as you have good credit.

I don't believe home prices will rise for 5 to 10 years. Historically the stockmarket goes up while real estate tanks. There have been similar periods like the late 80's till late 90's. If you bought real estate and sold it in that period most likely you lost money. On other hand stockmarket skyrocketed. If you were heavily invested then you did very very well.

I believe where in that same type of period. And wait till Obama loses the next election. And if the stockmarket thinks Obama will lose the next election alot of people will start investing in the us markets again.