The two-year housing decline is worsening

[Fandango 1,439]

You were still wrong.

Oh my God, what is your deal? I think you just love bickering!

Before you graced us with your .02, I already said there are areas where renting makes better sense.

You really do need to read more comprehensively! I'm starting to worry!

The housing market is a scam.

And you're a commie pig

Call me a communist pig, but I think there should be a cap on how much the value of home can be at.

See? We can agree on something!

[one...two...tree 2,762]

You were still wrong.

Oh my God, what is your deal? I think you just love bickering!

Before you graced us with your .02, I already said there are areas where renting makes better sense.

You really do need to read more comprehensively! I'm starting to worry!

The housing market is a scam.

And you're a commie pig

Call me a communist pig, but I think there should be a cap on how much the value of home can be at.

See? We can agree on something!

That's the spirit, Lisa! If you can't be yourself, who can you be?

[rebeccajo 14]

Affordable housing attracts people who can't get in to nice communities on the weight of their own merit. It's nothing more than a means of diluting the hard work of hard working people who build and create a nice & desirable community.

If the ghetto fabulous homeboys of Plainfield wanna move to Westfield, let them work their way up like everyone else.

That leads to some form of segregation.

Does it?

Most "nice" neighborhoods in this area are very racially diverse. The ghettos are just as diverse as well.

It's got nothing to do with color anymore. It's got to do with class.

Um no. It has to do with income. You can't buy class.

[PlatyPius 5]

OH, he said CLASS! I thought he said Caste.

[rebeccajo 14]

OH, he said CLASS! I thought he said Caste.

I think that was implied....................

[mawilson 2,133]

Affordable housing attracts people who can't get in to nice communities on the weight of their own merit. It's nothing more than a means of diluting the hard work of hard working people who build and create a nice & desirable community.

If the ghetto fabulous homeboys of Plainfield wanna move to Westfield, let them work their way up like everyone else.

That leads to some form of segregation.

Wouldn't you want to segregate yourself from the "ghetto fabulous homeboys of Plainfield"?

[mawilson 2,133]

The housing market is a scam.

So is the stock market and every other market. Life's a b1tch. Your point?

[AnaAndDaniel 0]

err so what was the OP?

Daniel

:energetic:

[one...two...tree 2,762]

The housing market is a scam.

So is the stock market and every other market. Life's a b1tch. Your point?

Time to fix what's broken.

[one...two...tree 2,762]

Affordable housing attracts people who can't get in to nice communities on the weight of their own merit. It's nothing more than a means of diluting the hard work of hard working people who build and create a nice & desirable community.

If the ghetto fabulous homeboys of Plainfield wanna move to Westfield, let them work their way up like everyone else.

That leads to some form of segregation.

Does it?

Most "nice" neighborhoods in this area are very racially diverse. The ghettos are just as diverse as well.

It's got nothing to do with color anymore. It's got to do with class.

Segregation doesn't necessarily have to fall along racial lines, but economic lines.

[brtlmj 0]

The ONLY time renting is not a waste of money is in the instance of just moving to a new area, and you're unsure of where you want to be.

Let me give you a real-life example. My own.

Where I live a median house costs $557,000. If we took a 30-year mortgage at the jumbo rate of 6.9%, we'd be paying 3,668.40 per month. Actually, we'd be paying more, as mortgage insurance would be necessary. Anyway, we could afford it.

Now, let's consider renting. The average rent around here seems to be about $1,700 per month (that's based on local newspaper ads - I might be a hundred or two off). So, if we rent instead of buying, we can save $1968 per month. That's $24,165 per year assuming 5% return.

In other words, by renting we save as much money in a year as we would build equity in almost four years of "owning" a home. And that's assuming that prices do not fall further.

Additionally, right now we do not have kids and do not have to buy or rent a house. A $900 apartment is fine, so we save even more.

Sure, in a few years the situation will reverse. The we will buy - with a large down payment. But now? No way.

By the way, it's kind of funny how realtors tend to tell you that you are going to get a tax break on your interest payments, but conveniently forget to mention property taxes.

[w¡n9Nµ7 §£@¥€r 123]

By the way, it's kind of funny how realtors tend to tell you that you are going to get a tax break on your interest payments, but conveniently forget to mention property taxes.

You get a break on those taxes, too.

[brtlmj 0]

You get a break on those taxes, too.

I didn't know that. Can you elaborate? Is that a deduction or tax credit?

[w¡n9Nµ7 §£@¥€r 123]

Deduction

[brtlmj 0]

Deduction

It hardly makes a difference, then. Property taxes are much lower than interest payments in the first years of mortgage. But still, I am glad I'll be paying a bit less