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re: Interesting question: Is home ownership becoming the new "college degree"?
Posted on 8/16/25 at 12:01 pm to SlowFlowPro
Posted on 8/16/25 at 12:01 pm to SlowFlowPro
I'm guessing we are on similar opinions with this, but this thread is probably doomed in this setting.
Owning a home as a default is not the way.
Owning a home as a default is not the way.
2
Posted on 8/16/25 at 12:03 pm to SlowFlowPro
The alternative is throwing money down a rathole by paying rent in perpetuity.
Posted on 8/16/25 at 12:05 pm to GRTiger
quote:
but this thread is probably doomed in this setting.
Better than the poli board.
I guess I could have put it on the money board.
Posted on 8/16/25 at 12:07 pm to fr33manator
quote:
Owning a home (not one at inflated price) may end up Being a better choice than a lot of college degrees.
I never went to college and bought my first house at 25 in 2006. I went offshore at 18 instead of college.
Not sure what I would do now if I was 18.
Posted on 8/16/25 at 12:07 pm to Bestbank Tiger
quote:
The alternative is throwing money down a rathole by paying rent in perpetuity.
That's a silly way to think about it. I see lawyers use the same bad logic to buy commercial buildings instead of paying rent, which often end up as huge net losses.
We pay money to live in an abode. When you accept this, and stop thinking of it in terms of an investment, the discussion becomes much more rational. I could just as easily try to dismiss your point by bringing up how with renting, the alternative is throwing money down a rathole by constantly paying for expensive repairs/maintenance/insurance. See how that works? And god forbid we get into things like maneuverability in life.
Posted on 8/16/25 at 12:08 pm to SlowFlowPro
quote:
Better than the poli board.
no doubt. I hate that all your posts are dismissed there. You're not always wrong. Your approach usually is though, for whatever that's worth.Posted on 8/16/25 at 12:10 pm to SlowFlowPro
quote:
The institutional investors started pulling out bigly already because of the threat of a market downturn. They'd be fricked more than consumers in that scenario.
Why should they be concerned? They’ll just get bailed out like in 08’ if the market turns down.
That’s why they are throwing so much into the market - or at least have been. They know there’s little risk to do so. They will be rescued and the people will pick up the tab. That’s how it’s always worked, sadly.
Posted on 8/16/25 at 12:11 pm to SlowFlowPro
quote:
Putting down 20% for a relatively expensive loan on depreciating property that is expensive to maintain sounds like hell on earth, economically
Well yeah. Common sense withstanding. You still have evaluate the market.
Posted on 8/16/25 at 12:12 pm to SlowFlowPro
Mrs. H2O and I are in the market for a lake house. They aren't making any more dirt and lakefront is in high demand. We look at it as an investment more than anything.
Posted on 8/16/25 at 12:13 pm to Jimbojambojumbo
Interest rates should have never gotten as low as they did. Where they are now is about as low as they should ever be, IMO.
Seems we are headlong into a slow gradual crash right now which I think kind of needs to happen, and I say all this as someone trying to sell a house right now.
Free money for borrow was inevitably going to put us here.
Seems we are headlong into a slow gradual crash right now which I think kind of needs to happen, and I say all this as someone trying to sell a house right now.
Free money for borrow was inevitably going to put us here.
This post was edited on 8/16/25 at 12:15 pm
Posted on 8/16/25 at 12:19 pm to SlowFlowPro
quote:
We pay money to live in an abode. When you accept this, and stop thinking of it in terms of an investment, the discussion becomes much more rational. I could just as easily try to dismiss your point by bringing up how with renting, the alternative is throwing money down a rathole by constantly paying for expensive repairs/maintenance/insurance. See how that works? And god forbid we get into things like maneuverability in life.
….where do you think the landlord gets the funds that pays for maintenance?
Also either you will continue to have increases year to year in rent OR be moving at some point as the complex/house deteriorates….
Pay for moving a few times and it adds up. A lot.
Also at some point a mortgage ends.
Renting does not.
This post was edited on 8/16/25 at 12:25 pm
Posted on 8/16/25 at 12:20 pm to DonJuanDaMiles
quote:
So, the it’s smart to not want to buy a home is the lube for the don’t worry about us making home ownership unaffordable.
This
Posted on 8/16/25 at 12:22 pm to TulaneUVA
There is a fine line between arguing principles and being adaptable to your world.
Posted on 8/16/25 at 12:27 pm to DownshiftAndFloorIt
quote:
Interest rates should have never gotten as low as they did. Where they are now is about as low as they should ever be, IMO.
What an incredibly ignorant observation. No individual gets to dictate what the correct level of interest rates should be, it’s a market. Mortgage rates were low because risk was skyrocketing. The players in the MBS market disagree with your assessment.
Posted on 8/16/25 at 12:31 pm to wutangfinancial
Don’t forget ridiculous property taxes if you’re in Texas.
Posted on 8/16/25 at 12:32 pm to SlowFlowPro
I’ve never truly understood some of the real estate or housing crisis. I get why the bubble bursts back during what 08 and why issues arise, but how does it impact me who bought my home and am a 1/3 of the way through my mortgage and pay my note.
Posted on 8/16/25 at 12:34 pm to HangmanPage1
quote:
I get why the bubble bursts back during what 08
If it was a bubble why are home prices higher now?
Posted on 8/16/25 at 12:35 pm to Adam Banks
quote:
Also at some point a mortgage ends.
This raises an interesting variable.
Buying for the long-term (where the mortgage ends) is clearly a less risky strategy, but who does this, these days? Who buys one home and stays there for 30 years?
Posted on 8/16/25 at 12:38 pm to SlowFlowPro
quote:
Just as people didn't need expensive degrees for certain jobs, people may get saddled with mortgages the same way they are with SL debt, without the appreciation you'd expect from the "investment".
Uhh..
Get a house you can afford?
If you can afford it, you have to live somewhere.
Just don't get a house that costs far more than rent.
But in the end you do get to cash out, unlike lifelong renters who go bust.
Posted on 8/16/25 at 12:42 pm to wutangfinancial
quote:
No individual gets to dictate what the correct level of interest rates should be, it’s a market
The fed has nothing to do with this?
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