The Confabulation Thread - Part 2
- Thread starter KevinL
- Start date
Well I moved a lot of my stuff to a storage place a while ago. I'm actually too lazy to move the remaining stuff or the stuff in storage for that matter so I won't have much to actually move then
but getting the time to go look for a place will be tough while we are so busy. With only a month it probably won't be enough time to buy so I'm sure I'll be stuck renting for a while. Which I don't mind. I've owned a few house and condos and it will be a nice change not having to take care/maintain the place.
i take it you're not concerned that renting is kinda throwing your money away?
Depends on how you look at it. Seeing as most are forcasting the housing market to continue to crash for a few more years and Michigan being one of the worst states with a ****ed up housing market If I buy now it's going to continue to loose value for a few years. I'm better off waiting till it's at the bottom of the slump ot just coming back up. I'm hoping the worst is yet to come. I hope the whole **** housing market just completely collapses to ****. I still have almost all the money from selling my house, I'd buy a few then, **** everyone else :D
As an example a friend bought a house a few years ago for about 315,000. They are trying to refinance their mortgage but the area has gone down about 13% or so since he bought it. So far he has lost something like 50 grand on the house in value and is having a hard time refinancing. I got lucky and sold my last house before everything nose dived.
As an investment if you have the discipline ( which I don't
) you can make more by investing the money saved when you rent vs buying. My house payment with taxes was close to 2000 a month I can rent the same for 900-1000 a month. If I invested that 1000 a month I'll save renting it will return a much higher amount in 30 years than what the house will sell for. Now I don't know a single person that would have the discipline to invest that 1000 every month but if you could
Of course **** could always go wrong in the markets at the end of that 30 years and your investments could go to ****.
I'll probably buy in a year or so. If the housing market take a up-turn sooner I'll just break my lease early or buy a house and rent it out till my lease is up. So I still have options no matter what happens.
I have to be out in 1 month before my uncle and his kids are to move in so it would be hard to find and house I like and go through all the motions in a month and I sure don't want to rush and buy some **** I don't really want
I wish my rent was only 900-1000!
You have some very smart thinking though. The house I rent when we first moved in was listed for $415k...now with the market the way it is its probably worth I would say $375k.
If I bought then I would be screwed now...
You have some very smart thinking though. The house I rent when we first moved in was listed for $415k...now with the market the way it is its probably worth I would say $375k.
If I bought then I would be screwed now...
Well I would sure hope AZ would cost more then MI to live in. Every where should cost more than MI, every where is nicerI wish my rent was only 900-1000!
You have some very smart thinking though. The house I rent when we first moved in was listed for $415k...now with the market the way it is its probably worth I would say $375k.
If I bought then I would be screwed now...
It's so boring here Thats what I'm talking about. If the market goes down for say another 2 years then slowly come back up it could have took another 3-5 years to get back to where it was at when you first bought the ****er. So you would have effectively been paying for say 7 years just to get back right where you were at when you first signed the mortgage papers, It's the same as renting then for that time period ( for the most part ) except it cost you twice as much as it would have renting.
While something like $50 billion plus in adjustable mortgages coming up in the next 6 or so months and home values have tanked for the last few years and all those people that did adjustable loans were banking that the home values were going to keep climbing 6-10% a year and they would have all kinds of equity to refinance or sell their homes are super ****ed.
foreclosures at record levels in the US and we haven't even seen the worst to come yet.
Number two in the nation was Detroit, where job losses in the auto industry drove foreclosures higher. One of every 29 households recorded a foreclosure filing there, almost double the rate of a year ago. Las Vegas (one of 31, up 142 percent) was third.
Little clip from this article
California cities fill top 10 foreclosure list - Aug. 14, 2007
Of course detroit is a **** hole
When your seeing junps over 100% thats just isn't good
With the average income in the US increasing less than 1% a year since 2000 but cost of living 4-5 times a year increase most people have less money now than they did 7 years ago.
It's all heading to a depression and most of my assets are cash so bring it on. I'll come out of it making a ton I'll hire the homeless to work for me at $10 a day
It's all heading to a depression and most of my assets are cash so bring it on. I'll come out of it making a ton
I'll hire the homeless to work for me at $10 a day :lol:
Tell me about it!! I work at Countrywide! I know all about the subprime market!
I feel bad for a lot of people out there that bought houses at 100% with ARM's that are due to adjust...
Tell me about it!! I work at Countrywide! I know all about the subprime market!
I feel bad for a lot of people out there that bought houses at 100% with ARM's that are due to adjust...
:lol: I didn't know that was the one you worked for. They are taking a beating.
When I read Bank of america was infusing 2 billion into countrywide for stock I thought things might be a littler better but then it was release they were buying the stock at like 18% below it's trading price. They kind of made a statment by doing that , that countrywides stock was over valued. Which I know wasn't/isn't there intention, but some may have looked at it that way
well when you put it that way, yes, rent, save, wait.
i know my hubby has the dicipline to put that into the bank, but he's pretty responsible with money. well now days anyways. not that he's actually ever been in debt, he just used to spend freely when he had money. he bought me a pair of jeans once when we were mates. the boyfriend i had at the time wasn't entirely impressed. he bought a shirt for one of his male friends, but that didn't seem to matter.
i know my hubby has the dicipline to put that into the bank, but he's pretty responsible with money. well now days anyways.
not that he's actually ever been in debt, he just used to spend freely when he had money. he bought me a pair of jeans once when we were mates. the boyfriend i had at the time wasn't entirely impressed. he bought a shirt for one of his male friends, but that didn't seem to matter. Americans love to be in debt, we want, NEED to have what we can't afford. Make more money and you'll just want more expensive **** you can' affordwell when you put it that way, yes, rent, save, wait.
i know my hubby has the dicipline to put that into the bank, but he's pretty responsible with money. well now days anyways.
Something wrong with a guy buying another guy shirt
The average balance per open credit card was $4,617 in 2004,
but atleast we aren't using all the available credit we have
The average household had $30,000 in unused credit lines in 2004
but atleast we aren't using all the available credit we have
The average household had $30,000 in unused credit lines in 2004
