Is buying a Home and living in it for SUCKERS???
Goto page 1, 2, 3, 4, 5  Next
 
Post new topic    LakersGround.net Forum Index -> Off Topic Reply to topic
View previous topic :: View next topic  
Author Message
ChickenBeckerman
Star Player
Star Player


Joined: 08 Jul 2012
Posts: 2060

PostPosted: Wed Oct 11, 2017 1:01 pm    Post subject: Is buying a Home and living in it for SUCKERS???

This guy says so.



Whatsayoo?
Back to top
View user's profile Send private message Reply with quote
vanexelent
Retired Number
Retired Number


Joined: 17 May 2005
Posts: 30081

PostPosted: Wed Oct 11, 2017 1:38 pm    Post subject:

Sure, if you're single and don't have kids. I think it's a positive thing to put your roots down.
Back to top
View user's profile Send private message Reply with quote
Hector the Pup
Retired Number
Retired Number


Joined: 25 Jul 2002
Posts: 35946
Location: L.A.

PostPosted: Wed Oct 11, 2017 2:15 pm    Post subject:

I can tell you right now that guy doesn't live in any major city and definitely has never been to LA.
Back to top
View user's profile Send private message Reply with quote
lakersken80
Retired Number
Retired Number


Joined: 12 Aug 2009
Posts: 38749

PostPosted: Wed Oct 11, 2017 3:29 pm    Post subject:

Renting is nice until the landlord jacks up the rent and you get evicted.
Back to top
View user's profile Send private message Reply with quote
DancingBarry
Editor-in-Chief
Editor-in-Chief


Joined: 07 Sep 2001
Posts: 40188
Location: O.C.

PostPosted: Wed Oct 11, 2017 3:59 pm    Post subject:

Sometimes I wonder...
Back to top
View user's profile Send private message Reply with quote
LakersRGolden
Star Player
Star Player


Joined: 13 Jan 2002
Posts: 7909
Location: Lake Forest

PostPosted: Wed Oct 11, 2017 4:02 pm    Post subject:

So, mobility, mobility, mobility. Who is this guy ripping off that he needs to skip town every few months?
Back to top
View user's profile Send private message Reply with quote
DaMuleRules
Retired Number
Retired Number


Joined: 10 Dec 2006
Posts: 52624
Location: Making a safety stop at 15 feet.

PostPosted: Wed Oct 11, 2017 4:03 pm    Post subject:

I would personally rather see my money go to something I own, that appreciates than to simply toss it to a landlord and have nothing to show for it in the long run.

If owning a home is being a "sucker", then I have "suckered" my way into some considerable money over the years by doubling my money on my first home and seeing my equity in my current home continually grow great in the time I have owned it.
_________________
You thought God was an architect, now you know
He’s something like a pipe bomb ready to blow
And everything you built that’s all for show
goes up in flames
In 24 frames


Jason Isbell

Man, do those lyrics resonate right now
Back to top
View user's profile Send private message Reply with quote
audioaxes
Franchise Player
Franchise Player


Joined: 26 Apr 2004
Posts: 12573

PostPosted: Wed Oct 11, 2017 4:19 pm    Post subject:

didnt watch the video but thats foolish advice at face value.
If your housing market isnt straining well above affordability and your price to buy beats out rental prices I say go for it.
One of the best moves I made was buying a house I had no intention on staying in for much more than 5 years. Put down 3.5% and stacked on lender closing costs credits to keep my up front out of pocket low, had a mortgage that was much lower than rental prices of stuff that wasnt even half as nice, and still turned around and sold it about 3 years later for a ~100K profit.
_________________
(bleep) Kawhi
Back to top
View user's profile Send private message Reply with quote
xxsicrokerxx
Star Player
Star Player


Joined: 11 Dec 2011
Posts: 2205

PostPosted: Wed Oct 11, 2017 4:39 pm    Post subject:

With this guy's logic you should never have a girlfriend or get married. That way you'll never be tied down. Never have to spend money on expensive dinners. Never need to buy her gifts. That way you'll save the money and invest in whatever you want.
Back to top
View user's profile Send private message Reply with quote
Reilec142002
Star Player
Star Player


Joined: 27 May 2008
Posts: 1578

PostPosted: Wed Oct 11, 2017 5:36 pm    Post subject:

This guy is dumb as (bleep). Paying rent is basically throwing money into a burning trash can. Paying for a house is basically a 401k plan.
Back to top
View user's profile Send private message Reply with quote
ringfinger
Retired Number
Retired Number


Joined: 08 Oct 2013
Posts: 29418

PostPosted: Wed Oct 11, 2017 5:36 pm    Post subject:

From a financial perspective, that argument could possibly be made. I mean, you can invest in real estate without owning a property so the investment factor doesn't make sense to me.

But to me its like owning a business vs having a job. Ultimately depends on what is important to you. I'm generally risk adverse, so, I like having a job, knowing I can make my dwelling my own, and having peace of mind that if I can pay off this home, I limit my exposure in the event I am unable to work.
Back to top
View user's profile Send private message Reply with quote
LAkers 4 Life
Franchise Player
Franchise Player


Joined: 12 Apr 2001
Posts: 14629

PostPosted: Wed Oct 11, 2017 7:49 pm    Post subject:

He's not factoring in the cost of mobility. Moving is pretty stressful and exhausting. Why would someone willingly want to do it all the time? Maybe if you're a minimalist and don't care about establishing roots. Plus, how is owning an appreciating asset a bad idea? Renting vs. owning really depends on the person's situation, goals, and obviously ability to pay for it, but in most situations it's better to own than rent.
Back to top
View user's profile Send private message Reply with quote
axs
Starting Rotation
Starting Rotation


Joined: 30 Nov 2008
Posts: 853
Location: SF Valley, CA.

PostPosted: Wed Oct 11, 2017 8:00 pm    Post subject:

I'm assuming everyone here that rather own than rent a place would also rather buy a car than lease?
_________________
"I'm Magic before retirement, illest in the game."
Back to top
View user's profile Send private message Reply with quote
DaMuleRules
Retired Number
Retired Number


Joined: 10 Dec 2006
Posts: 52624
Location: Making a safety stop at 15 feet.

PostPosted: Wed Oct 11, 2017 8:08 pm    Post subject:

axs wrote:
I'm assuming everyone here that rather own than rent a place would also rather buy a car than lease?


Not an apt comparison. Cars only depreciate. (and before some ass comes along and says that some cars go on to become classic collectibles, that is far from the norm).
_________________
You thought God was an architect, now you know
He’s something like a pipe bomb ready to blow
And everything you built that’s all for show
goes up in flames
In 24 frames


Jason Isbell

Man, do those lyrics resonate right now
Back to top
View user's profile Send private message Reply with quote
governator
Franchise Player
Franchise Player


Joined: 28 Jan 2006
Posts: 24995

PostPosted: Wed Oct 11, 2017 8:43 pm    Post subject:

20% down, 30yr mortgage... part of my retirement plan

Imagine being 70 and retired, your rent eating up your saving
Back to top
View user's profile Send private message Reply with quote
LakerSanity
Moderator
Moderator


Joined: 30 Nov 2006
Posts: 33474
Location: Long Beach, California

PostPosted: Wed Oct 11, 2017 8:52 pm    Post subject:

I live in LA, and pay about the same for my mortgage/HOA/Property tax as I would if I was renting a smaller place that isn't as nice as my home. I'm pretty happy that my money will amount to property ownership one day. If you can afford the down payment, I don't see the downside, especially in Southern California where rents go up while your mortgage payment doesn't.
_________________
LakersGround's Terms of Service

Twitter: @DeleteThisPost
Back to top
View user's profile Send private message Reply with quote
ringfinger
Retired Number
Retired Number


Joined: 08 Oct 2013
Posts: 29418

PostPosted: Wed Oct 11, 2017 9:08 pm    Post subject:

axs wrote:
I'm assuming everyone here that rather own than rent a place would also rather buy a car than lease?


Owning a car is more financially beneficial to leasing. So yes, I'd rather own my car than lease.

But just as with renting vs buying, it all matters on what is important to you.
Back to top
View user's profile Send private message Reply with quote
governator
Franchise Player
Franchise Player


Joined: 28 Jan 2006
Posts: 24995

PostPosted: Thu Oct 12, 2017 5:10 am    Post subject:

LakerSanity wrote:
I live in LA, and pay about the same for my mortgage/HOA/Property tax as I would if I was renting a smaller place that isn't as nice as my home. I'm pretty happy that my money will amount to property ownership one day. If you can afford the down payment, I don't see the downside, especially in Southern California where rents go up while your mortgage payment doesn't.


This can be for the next 30 years
Back to top
View user's profile Send private message Reply with quote
Hector the Pup
Retired Number
Retired Number


Joined: 25 Jul 2002
Posts: 35946
Location: L.A.

PostPosted: Thu Oct 12, 2017 7:09 am    Post subject:

DaMuleRules wrote:
axs wrote:
I'm assuming everyone here that rather own than rent a place would also rather buy a car than lease?


Not an apt comparison. Cars only depreciate. (and before some ass comes along and says that some cars go on to become classic collectibles, that is far from the norm).


And I'm pretty sure that a house doesn't immediately depreciate 20% the moment you move in.
Back to top
View user's profile Send private message Reply with quote
Ziggy
Franchise Player
Franchise Player


Joined: 10 Feb 2005
Posts: 12712

PostPosted: Thu Oct 12, 2017 8:07 am    Post subject:

As someone who owns and rents, this guy is a complete moron. I hope more people start thinking the way he does so there's less competition to drive up prices.
Back to top
View user's profile Send private message Reply with quote
Lucky_Shot
Star Player
Star Player


Joined: 10 Jan 2016
Posts: 5140

PostPosted: Thu Oct 12, 2017 8:21 am    Post subject:

LAkers 4 Life wrote:
He's not factoring in the cost of mobility. Moving is pretty stressful and exhausting. Why would someone willingly want to do it all the time? Maybe if you're a minimalist and don't care about establishing roots. Plus, how is owning an appreciating asset a bad idea? Renting vs. owning really depends on the person's situation, goals, and obviously ability to pay for it, but in most situations it's better to own than rent.


Thats not true. Anyone who bought a house between 2006-2009 would say its better to rent.

It all depends on what the market is and if you get a good deal. If you dont than you screw yourself, it's not black and white
Back to top
View user's profile Send private message Reply with quote
venturalakersfan
Retired Number
Retired Number


Joined: 14 Apr 2001
Posts: 144432
Location: The Gold Coast

PostPosted: Thu Oct 12, 2017 8:58 am    Post subject:

My 401k has far out valued my home appreciation in the last 20 years.
_________________
RIP mom. 11-21-1933 to 6-14-2023.
Back to top
View user's profile Send private message Reply with quote
governator
Franchise Player
Franchise Player


Joined: 28 Jan 2006
Posts: 24995

PostPosted: Thu Oct 12, 2017 9:14 am    Post subject:

venturalakersfan wrote:
My 401k has far out valued my home appreciation in the last 20 years.


including 20 yrs worth of rent $?
Back to top
View user's profile Send private message Reply with quote
Conker
Franchise Player
Franchise Player


Joined: 09 Jun 2010
Posts: 13056
Location: MDC

PostPosted: Thu Oct 12, 2017 9:41 am    Post subject:

Where's the middle class?
_________________
(❍ᴥ❍ʋ) ʕʘᴥʘʔ (⌐ ͡■ ͜ʖ ͡■) (┛◉Д◉)┛( ͡° ͜ʖ ͡°) ༼;´༎ຶ ۝ ༎ຶ༽
Back to top
View user's profile Send private message Reply with quote
venturalakersfan
Retired Number
Retired Number


Joined: 14 Apr 2001
Posts: 144432
Location: The Gold Coast

PostPosted: Thu Oct 12, 2017 10:05 am    Post subject:

governator wrote:
venturalakersfan wrote:
My 401k has far out valued my home appreciation in the last 20 years.


including 20 yrs worth of rent $?


I would have been better off renting and putting my home purchase money in my retirement account. And I live in a desirable area.
_________________
RIP mom. 11-21-1933 to 6-14-2023.
Back to top
View user's profile Send private message Reply with quote
Display posts from previous:   
Post new topic    LakersGround.net Forum Index -> Off Topic All times are GMT - 8 Hours
Goto page 1, 2, 3, 4, 5  Next
Page 1 of 5
Jump to:  

 
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum






Graphics by uberzev
© 1995-2018 LakersGround.net. All Rights Reserved. Privacy Policy. Terms of Use.
LakersGround is an unofficial news source serving the fan community since 1995.
We are in no way associated with the Los Angeles Lakers or the National Basketball Association.


Powered by phpBB