Current Events > Do you rent or own property?

(+) Yeah! (+)

It seems like most people, myself included, want to be homeowners. It was sort of promised to us growing up. Now it almost costs a million dollars for a starter house (a term that never fails to make me laugh). Also, wages have been stagnant for decades and business owners are showing no signs of taking care of their workers.

With rent prices (on dilapidated houses) going upwards to $3,000/month, you cannot afford to save to buy or even make an initial payment to finance a house. Our government is allowing these corporations in China to come here and outbid our citizens so they can rent the house at an unfair price.

Wtf is going on with this world and how tf to we fix it so the little guy can live comfortably again? This whole all profits go straight to the top thing needs to stop.

My house is kinda small but I got 2.5 acres. Was 134K. Kinda cool to say this is my house. Well I guess the mortgage company's house lol

I own a couple houses, and also have a rental, so both

I just got a house. I have some misgivings. But overall I am happy to have a place to call my own. That I can play my sex and trombone as loud as I want. That I can let my turtles crawl around outside in the tiny lawn.

Payzmaykr posted...

Wtf is going on with this world

The haves are being separated from the have-nots.

Live with mom, pay her rent, and I'll inherit this house when she dies.

theAteam posted...

The haves are being separated from the have-nots.

No, its just greedy assholes being greedy assholes and wrecking the planet in the process.

Own the home, rent the land

Rent a place with two other people... Only way I'm going to be able to live anywhere outside of my parents house...

My FIL died and my partner and I bought a house with my MIL so....yay(?) I'm now a property owner?

Payzmaykr posted...

It seems like most people, myself included, want to be homeowners. It was sort of promised to us growing up. Now it almost costs a million dollars for a starter house (a term that never fails to make me laugh). Also, wages have been stagnant for decades and business owners are showing no signs of taking care of their workers.

With rent prices (on dilapidated houses) going upwards to $3,000/month, you cannot afford to save to buy or even make an initial payment to finance a house. Our government is allowing these corporations in China to come here and outbid our citizens so they can rent the house at an unfair price.

Wtf is going on with this world and how tf to we fix it so the little guy can live comfortably again? This whole all profits go straight to the top thing needs to stop.

if youre spending a million on a starter house you should probably move

People somehow allowed the idea to perpetuate that if you give rich people the most they'll somehow give the plebs some of their excess.

rent. really rough to keep head above the water in life.

still renting. i have enough at this point to afford a decent house but i fucked up and waited too long. i was SO close to pulling the trigger during covid when things were dirt cheap and i was being estimated at <3%, but my office was shutting down the physical office because of covid and the future was uncertain. of course, fast forward to now, i'm fully remote in a promoted role, so buying a house at the time would've been great, but if we all had perfect future vision then we'd all be billionaires. knowing my luck, had i bought a house, the job would've axed us all and i would've been tied to a house limiting my ability to find a new job.

so now i'm not going to just pull the trigger on an inflated house with sky high interest. and it looks like i done fucked myself

CanadianMafK posted...

if youre spending a million on a starter house you should probably move

To be fair, a crappy house here would probably be closer to $500k. I just rounded up to a million to emphasize that theyre way too expensive. One other thing is that I dont want to live my city and I should have to move away. I actually fit in here and Im not going back to the Deep South for any reason. I feel like everyone so callously tells others to just pack their bags, say goodbye to their friends and family, and then move to some place where they dont know a soul and dont know their way around town.

[LFAQs-redacted-quote]

I completely agree. There are too many people in this country to worry about housing and we have to take steps to make sure that AFFORDABLE housing is available for EVERYONE. Private citizens have proven that they cannot rent property to others without being sadistic, so I dont know what other route to take other than government intervention. Things are past a breaking point and your rent/mortgage should not cost 150% of your paycheck. A house should not cost twenty five years of pay.

TaylorHeinicke posted...

still renting. i have enough at this point to afford a decent house but i fucked up and waited too long. i was SO close to pulling the trigger during covid when things were dirt cheap and i was being estimated at <3%, but my office was shutting down the physical office because of covid and the future was uncertain. of course, fast forward to now, i'm fully remote in a promoted role, so buying a house at the time would've been great, but if we all had perfect future vision then we'd all be billionaires. knowing my luck, had i bought a house, the job would've axed us all and i would've been tied to a house limiting my ability to find a new job.

so now i'm not going to just pull the trigger on an inflated house with sky high interest. and it looks like i done fucked myself

I was in a similar boat. I didnt have enough to buy outright, but I probably could have financed something or even put a trailer in my parents property, so I was within striking distance and I honestly just sort of thought I would be a homeowner by now. I never thought a halfway decent house would be $600k+ over the next two years, but here we are.

i've owned since 2011. i was fortunate enough to buy almost at the bottom of the dip.

Payzmaykr posted...

This whole all profits go straight to the top thing needs to stop.

vote Democrat

Bought our house in 2019 before the market got too crazy. Got it for 2k under asking and the sellers paid all our closing costs and fixed all inspection items we asked them to and gave us a 12 month home warranty for the bigger stuff we didn't ask them to fix/replace (like the furnace and AC are 20 years old but they both worked fine at the time of purchase so didn't ask them to replace).

We also used a 0-down loan program through Navy Federal that gives you money at closing if you use one of their partnered realtors so we essentially got paid $1500 to buy a house lol

I own my own house

Own a two unit house. I rent out one unit and live in the other. I charge below market rate for rent.

One other thing I dislike about being forced to rent is the lack of respect and dignity. You literally have a landlord who has a key to your home. They can legally barge in to perform a white glove inspection whenever they feel like it. I seriously feel like I live in a halfway house, like I did something wrong and need to have the authorities come check on me. Maybe thats just me, but it seems insulting when someone tells you (not asks you) that theyre coming to your house and going inside with a camera to take pictures.

Giant_Aspirin posted...

vote Democrat

The democrats are just a stop-gap vote against an increasingly fascist party, they're not going to fix the issue without some serious change in the system or the party.

Payzmaykr posted...

To be fair, a crappy house here would probably be closer to $500k. I just rounded up to a million to emphasize that theyre way too expensive. One other thing is that I dont want to live my city and I should have to move away. I actually fit in here and Im not going back to the Deep South for any reason. I feel like everyone so callously tells others to just pack their bags, say goodbye to their friends and family, and then move to some place where they dont know a soul and dont know their way around town.

Pretty large difference rounding up from 500000 to a million.....