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- - Is it a generally accepted truth that people who rent are shit? (https://gfy.com/showthread.php?t=987859)

No it isn't property renters are looking for guys to have a new revenue stream. I rent flats due it's better than buying one. Cheaper. Also i am able to move on if i wish without renting it out.

Quote:

Originally Posted by DateDoc (Post 17516306)

If you bought 10 years ago and sold 2 years ago and are now renting you are really smart! :)

:1orglaugh:1orglaugh

Quote:

Originally Posted by hdkiller (Post 17516384)

I rent flats due it's better than buying one. Cheaper.

God damn, what an idiot you are.

Renting for 20 years = money pissed down the drain.
Paying mortgage for 20 years = end up owning the house.

Depends on your area but in general renting is a waste of money... I own several and get the mortgage deductions :2 cents:

Quote:

Originally Posted by Naughty-Pages (Post 17513383)

You could buy a home in an upscale private gated community that is awesome today, and then 7-8 years later the community goes to shit... now your property value goes down, and your stuck with it.. .

my worst fear: getting a great place then a year later some underprivileged minority who made bank in some 'entertainment area' moves in with 5 pit bulls and and an entourage of 15 loud mouthy assholes that play loud crappy music and a 'yo and argue all night'

happened to my brother.... some underprivileged immigrants got a house next to him, put fucking chickens in the back yard and now underprivileged 'young men with violent tendencies, that have been alienated by society' drink beer in the yard all night and and fuck the neighbors daughter in the parked cars...

:winkwink:

Quote:

Originally Posted by BlackCrayon (Post 17515338)

im surprised people on this board would think this. in a business where its hard to prove your actual income because everyone wants to pay the least amount of taxes possible, it can be hard to get a mortgage unless you have a lot of money saved up. i've rented for over 10 years now. At first it was mostly because I knew if i bought, i wouldn't be able to get out of town as easily and i didn't want to get stuck there. now banks are up everyone's ass and its way harder to get a mortgage then it was a few years ago.

it's very easy to prove your income... tax return and photoshop and printer

Quote:

Originally Posted by howard (Post 17515351)

If you have a family and you need schools for your kids then you buy. But it is a losing proposition. Take 30 years mort and pay least possible. Don't pay 1 cent extra to pay off loan.

I bought house in 1990 for 300k. I put 100k into. I sold house in 1998 for 330k. WERE IN SAME PERIOD NOW.

If you bought mutual fund in 1990 and sold it in 1998. Here is fidelity magellan. Its know as 1 of the best funds.

In 1990 FMAGX was $13. In 1998 $53. Let me do some math for you. I put 20% down on that house so lets use figure of 70k.

My $70,000 I put down on House I could have bought magellan and in 1998 it would have been worth $286,000

Real estate market is in same down turn. So Im saying history says DONT BUY INVEST NOW.

shoulda, woulda, coulda...

this is 2010. you tell me where to invest my money to get 300% return in 7 years. it's all connected to risk. the more risk you take the more you make and the more you can lose. so expecting to gain that much in such a short period means you can affor to lose your 90k. do you? I am guessing not. therefore, do not tell me what you would be better off 20 years in the past. for 100 happy investing stories there's 100 unhappy ones.

I started throwing money into the funds when the crisis hit bottom. and I didn't expose myself. I made just enough to cover the losses and gain some.

and right now I'd be thrilled with about 8% annual return.

300%? well time to invest in shrilanka (this year alnoe they had 70%+ gains) or some other country I sure wouldn't stuck all my savings into. so...

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Originally Posted by Quence (Post 17516438)

God damn, what an idiot you are.

Renting for 20 years = money pissed down the drain.
Paying mortgage for 20 years = end up owning the house.

maybe that's how it works in the states. monthly loan payments sure are much fucking bigger here than monthly rent costs. so your math doesn't work that way or is at least outdated.

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Originally Posted by bm bradley (Post 17516655)

it's very easy to prove your income... tax return and photoshop and printer

ha, would this really work...i mean im sure banks do a bit of research before lending someone 300k.

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Originally Posted by BlackCrayon (Post 17516770)

ha, would this really work...i mean im sure banks do a bit of research before lending someone 300k.

That's fraud. You'll go to jail :2 cents: