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Old 02-18-2016, 4:57pm   #1
Montehall
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Default I don't get the whole "I'll never own a house thing"

Everywhere I've lived, I have "owned" [mortgaged] a house... the paperwork was a hassle, but it wasn't impossible.
I'm not wealthy or have amazing credit, either.
Heck, now we have two, and even actually own the house in Indiana outright.

This maybe one of those "my end of the ship isn't shrinking" things...
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Old 02-18-2016, 5:21pm   #2
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I can't wait to buy a house.
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Old 02-18-2016, 5:24pm   #3
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I still haven't figured out where I want to live.
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Old 02-18-2016, 5:24pm   #4
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I can't wait to buy a house.
Home ownership isn't always great, but it is always better than renting.
We sold our first house and had to live in an apartment for about 2 months.

I was ready to burn the apartments down.
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Old 02-18-2016, 5:32pm   #5
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if you think being a renter is bad... try being a landlord
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Old 02-18-2016, 6:16pm   #6
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if you think being a renter is bad... try being a landlord
Odd, the very worst tenant I ever had was a prof at the local college down the road, that bitch needed to DIE and relieve the world of her stupidity.....I forget what she supposedly taught, just know it was some liberal farts useless crap.....this was about 25 years ago.....my liberal farts trained sister liked her and recommended her....so much for liberals.....trained nitwits....

I sued her for damages, but the bitch turned around a filed counter suit....so I lost rental for a month plus filing charges.....

but strangely enough the students were GREAT tenants....clean, no damages, maybe one leaky sink trap in the years I owned the joint....

failure to vet the tenant......

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Old 02-18-2016, 6:19pm   #7
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Good point, but don't forget, we got some help...






On a serious note, it is not economically healthy or feasible to have too high of a percentage of homeowners. I cannot remember where a happy median was but I want to say mid-upper 60% range. When we exceed that, bad things happen...
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Old 02-18-2016, 7:13pm   #8
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Home ownership isn't always great, but it is always better than renting.
We sold our first house and had to live in an apartment for about 2 months.

I was ready to burn the apartments down.
Im in an apartment right now.
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Old 02-18-2016, 9:08pm   #9
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I don't get the whole "I'll never own a house thing"
might be that.... when someone truly wants something that they can't afford; to cope - they sometimes go around telling the world that "they wouldn't want (fill in blank) anyways".
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Old 02-18-2016, 9:39pm   #10
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Ive been told, I have commitment issues. I was very shy about taking out a mortgage. At 37 yo, a house became a neccessity. Paid it off in about 16 years. Best thing I ever did. Still refuse to get hitched.
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Old 02-19-2016, 1:06am   #11
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Originally Posted by Montehall View Post
Everywhere I've lived, I have "owned" [mortgaged] a house... the paperwork was a hassle, but it wasn't impossible.
I'm not wealthy or have amazing credit, either.
Heck, now we have two, and even actually own the house in Indiana outright.

This maybe one of those "my end of the ship isn't shrinking" things...
Keep in mind the price of a nice home in Indiana wouldn't buy a decent lot out here. House down the street just listed- under 2,000 sq ft, $399,000. Sold for $415,000 two days later (no typo). 2006 all over again (which scares the hell outta me).
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Old 02-19-2016, 7:43am   #12
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Ive been told, I have commitment issues. I was very shy about taking out a mortgage. At 37 yo, a house became a neccessity. Paid it off in about 16 years. Best thing I ever did. Still refuse to get hitched.
Which is why you were able to pay it off early.
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Old 02-19-2016, 8:20am   #13
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Good point, but don't forget, we got some help...



On a serious note, it is not economically healthy or feasible to have too high of a percentage of homeowners. I cannot remember where a happy median was but I want to say mid-upper 60% range. When we exceed that, bad things happen...
Who in hell said that?? and what is the basis for the reasoning?? makes no sense to me.....

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Old 02-19-2016, 8:29am   #14
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Ive been told, I have commitment issues. I was very shy about taking out a mortgage. At 37 yo, a house became a neccessity. Paid it off in about 16 years. Best thing I ever did. Still refuse to get hitched.
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Which is why you were able to pay it off early.
Well, true it WAS the Wash DC region, Md. suburbs, but when some quart case ruled that a woman's income had to be counted same as a man's in mortgage qualifications the price of houses doubled in about two years......

THAT and other things happening, married/divorced/apts rents going up, the ex/kids mom and I decided to buy a NICE townhouse up the road.... made 20 grand in the two years we there....bought for 55 sold for 75, got tired of the commute, we married by then....went closer in with a single fam house in a good development, paid the 20k down, 1st was assumed at 20k, shelled out another 80 on a second trust..... so 120k when she left, she bought me outta the joint for 140k house worth near 200k......it shot up to 640 grand long about '07 or so, and stayed there, housing in the DC region never collapsed like the rest of the nation.....due to grossly overpaid dual income Fed employees making about 100 grand each on average.....

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Old 02-19-2016, 9:06am   #15
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Originally Posted by polarbear View Post
Keep in mind the price of a nice home in Indiana wouldn't buy a decent lot out here. House down the street just listed- under 2,000 sq ft, $399,000. Sold for $415,000 two days later (no typo). 2006 all over again (which scares the hell outta me).
oh, I know the markets differ.
but like I said, there was never and issue getting the mortgage.

Our 820 sq ft house in Port Angeles, WA was $200k, but it was a few months before the bubble burst. We renovated the crap out of that house, too. still had to come to closing with $12k cash.
2500 sq ft house in Galveston Co, TX was $150k
my current 1700 sq ft house in Buffalo is $62k
Wife's 3300 sq ft house in Indiana on a half acre was $5k (foreclosure)
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Old 02-19-2016, 9:33am   #16
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oh, I know the markets differ.
but like I said, there was never and issue getting the mortgage.

Our 820 sq ft house in Port Angeles, WA was $200k, but it was a few months before the bubble burst. We renovated the crap out of that house, too. still had to come to closing with $12k cash.
2500 sq ft house in Galveston Co, TX was $150k
my current 1700 sq ft house in Buffalo is $62k
Wife's 3300 sq ft house in Indiana on a half acre was $5k (foreclosure)


WTF?? how in hell THAT happen?? burn down to the slab??? 1/2 acre in the Alaskan tundra is worth 5 grand.....how in hell someone let a house foreclose over a silly 5 grand???

another that makes NO sense to me.....

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Old 02-19-2016, 9:36am   #17
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Who in hell said that?? and what is the basis for the reasoning?? makes no sense to me.....


I know, it may sound strange. I don't think any single person said it, but many studies prove it. Some people are just meant to rent. Many people are not responsible enough to own a home. Plus from an economic standpoint, we need renters.

You cannot have everyone owning a home for many reasons.
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Old 02-19-2016, 9:39am   #18
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[/COLOR]

WTF?? how in hell THAT happen?? burn down to the slab??? 1/2 acre in the Alaskan tundra is worth 5 grand.....how in hell someone let a house foreclose over a silly 5 grand???

another that makes NO sense to me.....

the area is very "un-wealthy"... lots of foreclosures in the county. The bank simply doesn't want anymore houses.
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Old 02-19-2016, 9:51am   #19
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it is not economically healthy or feasible to have too high of a percentage of homeowners. I cannot remember where a happy median was but I want to say mid-upper 60% range.
I have heard that somewhere before.

Quote:
When we exceed that, bad things happen...
I don't think so. Though it would hurt the housing/rental market as it is currently fashioned... the free market system would adopt to changes.
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Old 02-19-2016, 12:14pm   #20
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the area is very "un-wealthy"... lots of foreclosures in the county. The bank simply doesn't want anymore houses.
Jeebus, WTF went ON??? only factory in site go to Mejico, and and nothing but farms full of illegals??? jeebus......

IF it was further south, like downstream near even New Orleans....even in a flood zone, make a nice cheeeeeeeeeP retirement place....but way north like that is too much damn snow.....
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