August 29, 2006

HousingPanic Stupid Question of the Day


How's renting looking now?

20 comments:

illegally yours in PHX said...

Give me those two back then and I may even buy a house. Seriously, though even though I had rented for 10 years i got used to being a homeowner for the last 5. Renting is tough.

But not as tough as trying to sell a worthless Mcmansion in Queen Creek or some other nightmare on Elm street town.

Actually renting isn't so bad. Just that I have two doggies and I wanted them to have a nice house with a big yard so I have to shell out a little extra. Otherwise the wife and I would be living it up renting in a luxury apartment complex. But I got my bubble selling peak money earning 5% in the bank, the landscapers come once a week, the bug people once a month and I ain't toiling over anything. If the toilet backs up out come the plumbers. The washing machine breaks they come with a new one.

The wife even lets me get some at least 3 times a week, because she's stress free.

We want a house though, for some reason though those investors aren't yet smart enough to take the offers we are giving them. We usually offer exactly what they paid for it or 200-300K off the price. I keep telling them this may be your last chance. Some have buckled but not all the way.

It's coming though.

Anonymous said...

It looks good to me. PENNIES ON THE DOLLAR.

Anonymous said...

it's funny all those new condo developments brochures showing the wine and cheese parties and all the fun you'll have living there

well those fools who bought have no money left for wine or cheese or any kind of fun. should've kept renting! I bet the bubble killed many a social life

David in JAX said...

Renting is great and owning will be even greater when it becomes a true buyers market. I prefered owning a home, but I look at it from an economic perspective. I need to do what's best for my family.

Owning was the best when I did, renting is the best now and owning again will be the best for me in a few years.

Dragasoni said...

I agree, renting was the best choice I made last year. I was pressured to buy from so many people, but I just wasn't comfortable with the payment. Not to mention, I was unsure if these increases were going to hold up. So i rented with the feeling I was priced out of the market...oh well, I said.

There was very little talk about a bubble, and much talk about no bubble last year. Well, the tables have certainly turned now!

-Dragasoni-

JR said...

Renting for the first time in 23 years...I just signed a 1-year lease, + a 1-year option. I needed a bigger house (getting married), but prices are way out of balance in Sacramento. I own 3 homes, so renting this new home felt weird at first. But as prices keep dropping and I bank the $3,000/mon difference, it is starting to get very comfortable. I will buy in 24 months at the bottom.

Anonymous said...

I enjoyed owning a home, but renting has it's good side. The main problem is finding decent landlords that fix things when they break which is what we have now.

I'm really glad we are out of the real estate market right now. We are debt free with investments and money in the bank, and we don't have to worry about our house going down in value and all that crap.

veritas_faust said...

As i wait to ride out Tropical Storm/Hurricane Ernesto in my Miami High rise condo I take great comfort in one thing:

The "special assesment" to repair all the damage this storm does, well it will be forwarded on to the landlord.

The Thinker said...

Renting stinks, it always has. Now buying stinks worse. Should we be happy that we chose what turned out to be the lesser of two evils? Perhaps.

Anonymous said...

What is "rent to own?"
Are you just renting the house and if you want to buy it you'll be the first one to decide? Is there any hidden fine print? I'm seeing lots of these "lease to own" signs all over town on new houses and my wife thinks we should rent one. Or is that a bad idea?

Mark in San Diego said...

The Thinker - Renting does not always stink.

We tend to think of poor or lower middle class when we think of renting, but many very wealth people, especially in Manhattan, etc. have rented for years, and love it. They have tax write-offs on other deals, and can use the million or more dollars tied up in their primary residence for other investments. Let's say they have 2 million dollar coop in NYC (not even a nice place these days). At 6% return on 2 million, that is $120K a year. A nice rental in Manhattan can be had for $4000 a month - $48K a year. . .would you rather have 120K minus 48K = 80K, or tie up 2 million in a coop?. . .this whole process of renting after 30 years has been "enlightening" to say the least.

I sold my place for 500K (no mortgage) and put it out at 4.2% TAX FREE). . .my rent in SD condo (with a bay view) is $1550. . .So, my $21,000 TAX FREE income pays for my $18,600 rent, and I have money left over. . .no HOA, no Property Taxes. . .

dagg said...

Renting is a lot better than owning a house that is going down in vlaue fast. just imagine the stress ...

Anonymous said...

Glad to be renting. I'm pretty young so I am actually happy that instead of buying furniture and paint and trying to fix up a yard, we are shoveling thousands every month into 401Ks and investments, now, (in our 20s), when it will make the most difference.

Knowing that we will buy at auction or on the cheap in 2-3 years only makes it sweeter.

Anonymous said...

I like Janet.

Frocco said...

Suzanne Summers tits look good!!!

Anonymous said...

Keith, You rock!!!

Love the pic.

Your blog always puts a smile on my face, despite the fact that the underlying fundamentals of our once great economy are as solid as the ground below the levees prior to Katrina.

SmugBastard06 said...

I am happy I chose to make the best stupid decision of my life and bought a home in 2003 because I felt I was missing the boat. Looking back it was the 'rise' of this crazy ride in my area. My mortage payment is less than what the house would rent for. I love my 1992, 2 story cookiecutter, 1800sq ft., 3 bedroom with a big back yard house I nabbed for 227k here in Caifornia. I also love my 30 year 5.375 fixed rate mortgage. Signed, SmugBastard06 ;-)

Anonymous said...

Wow what a photo blast from the past - too hot -

It is like the classic question

Mary Anne or Ginger?

Anonymous said...

Janet with a boob job would be a delight.

Anonymous said...

:Janet with a boob job would be a delight

I agree because Janet's a pretty brunette and with big boobs, she'd have that 'slut' appeal that Krissy had.

The hair color thing is really little more than a preference issue for guys (personally, I like redheads more) but the fantasy of rubbing one's member between two lovely breasts is something all guys can attest to.