Ma dukes says Im immature because I dont want a house

[daboywonder2002]

if you do buy a house, please buy one in an up and coming area. i see a lot of people buy houses in neighborhoods whose value drops in 2 to 3 years. so that house you bought for $200k is only worth $80,000 now. you want a neighborhood thats gonna blow up in a few years. not the other way around

 

[Huellz Santana]

 

[TLR Is Mental Poison]

ok, lemme go a little deeper...

10-15 years ago, ok i agree but now...in our financial state...Why would I do this?

Because not having a living space bill is a good thing in a good or bad economy

 

[Blackking]

I own a house and my area is actually increasing in value.

Sh1t still sucks. I'm not going to call the OP or anyone else dumb. Cutting grass, Maintenance on the house is basically NON stop. Shoveling snow, sh1t sucks even with a snow blower.

People are actually more nosey when you own a home, and it's easier to be in your business because you and your guest are the only ones that go to your area. In an apartment, people mostly keep to their corner and everyone uses the same parking lot and entrances.

In an apartment- yea you're probably making some CAC rich, but who cares if the rent is only a small portion of your income. Just surviving in America you are forced to contribute to CAC wealth - it's how things are if you want to live here.

Also in an apartment the maintenance is done for you, and you don't care as much because it's not your property.

 

[Rawtid]

A rule of thumb that I was taught with buying a house is that IF you decide on getting a mortgage, do a 15 year fixed where the payment plus interest is no more than 25% of your take home pay. If you can find a house that fits those criteria and it's in a decent neighborhood, then go for it.

Also don't buy a house as a short-term investment because you're going to lose out. In a lot of cases If you don't plan on staying for at least 5+ years, don't even bother.

 

[Art Barr]

This is why black people have little to no generational wealth. Perpetually poor.

There's no point in throwing away all of your money year after year if you have a stable career.

How are you gonna feel when you're +60, retired, and still paying rent out of your retirement money, not knowing how long you're going to live while that amount keeps getting lower and lower?

Wise up.

You forgot property tax.
Only way you buy a crib is.
You get it at the price, the baby boomer Gen got their shyt at.
Which was at most like forty thou, for some cold ass shyt.
Other than that,....
There is no more bread to make on real estate like that.
Plus in this economy,...
You may not have a job that pay enough to pay for a mortgage and the taxes.
So you gon lose the shyt anyway.
Those days your parents talked about where the lightpost were made of candycane's and a corvette was three thousand, are over with.

Maybe you got the exception to the rule careerwhich is cool.
Yet, one thing I learned is.
If you have a high paying job.
You need to look at it like you are an athlete.
Live menial and bank it all away.
As you are black and who knows what happens.
After that career is wiped away.



Art Barr

 

[M617]

Renting is not throwing money away your literally paying for a place to live.


Id rather take that 30-50k down payment and live large. I live in a expensive city wtf do i look like having to buy a house 45 minutes from it just to afford it

 

[Art Barr]

owning a home which at some point will have to increase in value. Paying rent on something you can never own is wasted money. Having a rent-to-own or copping on a short sale is a much better plan for the future. As someone said, black people being so cool with paying rent saps the possible generational wealth. The economy picks up again and that 30k house goes up to a possible 90 to 120k thats a nice nest egg to have in your portfolio.

Its a matter of what it is you are trying to do...if you plan on living alone for a very long time then sure do that. But if you have kids or want to, as some one said you have to own some land at some point.

Pros and Cons to both, but i can't see how renting >>> owning for anyone over the age of 30 with kids

This is not an attack on you.
Anyway,....
The economy is never picking up.
As purposefully, people with old money priced out that possibility.
When they defeated the last internet boom to defy change.
Get used to poverty, and no upside.
The only thing that could have changed the world.
A lot of you helped ruin by liking bullshyt.
A lot of you aided, the reasons why we will be poor.
You only have yourself to blame.



Art Barr

 

[MoneyTron]

How many people actually stay in their house for the whole course of a mortgage? Just curious.

I don't see houses as much of a way to build wealth except to borrow against equity. I'll probably stay in a house 15 years max before moving to another one.

 

[MBwithadream]

This is not an attack on you.
Anyway,....
The economy is never picking up.
As purposefully, people with old money priced out that possibility.
When they defeated the last internet boom to defy change.
Get used to poverty, and no upside.
The only thing that could have changed the world.
A lot of you helped ruin by liking bullshyt.
A lot of you aided, the reasons why we will be poor.
You only have yourself to blame.



Art Barr

 

[GMOGMediaTV]

Flippin properties is the way to go.

 

[Rice N Beans]

Depends on what your rent and salary is really.

I could make 50k and still wouldn't mind living in a studio apartment but that's just me.