October 08, 2007

I assume some times that everyone with a pulse must by now understand that the housing bubble was just one big unsustainable Ponzi Scheme....

And then I get a post like this:

It makes me shiver when I imagine any of you bitter renter peons using the word "think". It is almost certain that all of you are lacking 2 fundamental things (not necessarily in that order):

1. A brain to think with
2. Home ownership (requiring a brain)

Renters just don’t get it. Renting a shit-hole 1BR apartment is not an achievement it is a statement of utter incompetency and lack of character.


Since I’m an employer I always look at the employment applications looking for housing status. If you’re over 25 and rent you can forget about getting hired! You sorry ass dip-shit imbeciles. You really don’t get it. I might as well talk to the garbage can. Unf*cking believable!!!

129 comments:

depresso said...






The only "employer" I can think of writing crap like that is David Crisp...

Anonymous said...

Dickhead said - "If you’re over 25 and rent you can forget about getting hired! You sorry ass dip-shit imbeciles. You really don’t get it"

Please identify yourself at least as to what type of business you supposedly run.

I'm pretty sure Peter Schiff is currently renting. I'm sure he is at least a multi-millionaire.

Since you are supposedly running some kick-ass business, I wonder where you find the time to troll housing blogs. Personally, I have the time because I am in the position of never having to work again. That's fortunate for me because you would never hire me.

Edgar said...

.
.
.

::Sigh::

I guess Keith wants us to respond to trolls now. Even if this person is an employer I wouldn't want to work for a potty mouth anyway. Pathetic keefer, all the way around.

Frank@NeverColdCall.com said...

If you’re over 25 and rent you can forget about getting hired! You sorry ass dip-shit imbeciles. You really don’t get it.

Trace his IP address, find out who he is, and alert everyone who's been rejected for a job. The lawsuits will bankrupt him for life.

Oh wait, based on his post, he's probably some Scottsdale loser who is 6 months behind on his mortgage and hides his BMW from the repo man.

Oh yeah, and I love his comment that all renters are in 1-BR shithole apartments. That's a far cry from my Newport Beach McMansion I rent for 40% of what it would cost to "own" on a 30-yr fixed.

Anonymous said...

Wherever that poster goes (OJ Simpson Juror reunions, the halls of Congress, anywhere in Alabama) he'll be the dumbest person in the room

JWM in SD said...

If he is an employer of any note in California, good luck getting quality professionals from out of state...when you have to sell your house in Chicago and downgrade to an apartment in California, it kind of puts a damper on things....

Anonymous said...

Just clicked some ads for ya keefer

Give em hell!

Anonymous said...

Wow I guess people are starting to get angry. I guess its like losing at poker.

Anonymous said...

I rent a nice 4 br. 2 ba house in CA for 1450 per month. My landlords mortgage is 2800 per month.

And no employer can tell because my address is a house, not an apartment.

Anonymous said...

This is clearly the post of an FB! For an FB it isn't easy admitting they lost all their life savings and hard work in a housing ponzi scheme. Probably, same FB lost money in the tech stock crash and is now beside themself knowing they will never be able to admit they are twice losers.

Anonymous said...

What kind of industry do you work in? What area of the country are you in?

I live is the SF Bay area. The average price of homes on the peninsula is about 700-800k. I'm not joking. I'm under 30, I rent and I don't feel like an idiot at all. I don't understand how the younger crowd can afford this. If you just do the math the loan on a typical house assuming 20% down (nobody does this anymore) comes to about $3600 a month. Assuming you are taxed at a total fed+state rate of 35%, you need to make 133k if you want mortgage payments to consume half of your after tax income.

Most of these 700-800k houses are around 1000-1200 sqft, 2 ba 2bd types. It makes no rational sense to spend this amount of your income on something like this, especially when it is depreciating in value.

Anonymous said...

I can't believe there are such idiots out there! It is astonishing! Find his ip address and call him out! It is not easy to get your sh#t together in high priced markets and most people are doing the best they can with what they are working with at the time. Owning a house is not the way right now. It is cheaper to rent now than to own(homedebt) Shame on that @sshole!

Anonymous said...

About dickhead...

He either:

1) Works in the real estate industry and is an a$$hole.

2) Is an a$$hole.

Sounds like he's about ready to be foreclosed upon, doesn't it?

Such a looser.

SPECTRE of Deflation said...

Whoever wrote that is a poster child for the Second Depression. It's never different assclowns, and fundementals matter just as much today as they did pre-tech wreck when it was also "differnt this time".

Keith, it's assclowns like this that will live and beg in the streets. These jackasses will be wiped out because they don't have a clue that their purchasing power is going to Hell in a handbasket while they cheer nominal gains in the Indexes. These morons actually believes the govt. can endlessly grow money and credit exponentially with no consequences. HA! HA!

Dumb bastards won't know what hit em'.

Anonymous said...

I'd be pissed if I were losing thousands of dollars of equity every month too!

Peak-A- Boo said...

I guess this guy with the brain never thought the renter in the 1 bedroom apt.was just trying to minimize his (down the drain) expenses after selling out his house at the top of the market and made a killing,selling to the greater fool holding the bag,which are the sheeple he admires.He stays renting till his old house drops 50%,and buys out this desperate,but admired person.Pretty ridgid standards for a thinking person,huh?Does he even ask why the person rents?I suspect he would get some answers he wouldn't care to hear.Who want'ts to be reminded they weren't the smart one and stayed with a rapidly declining "asset".If he is so proud of the way he conducts his hiring process,I hope he is proud enough to announce the name of his company so many of us here won't waste our time filling out an app. for a company that is most assuridly run by an real assclown!

20 percent down said...

Your arogance is only exceeded by your incompetence to see the housing market the way it is .I presently own my own company and employ 70 workers and I rent my little sh#t hole. I write one check a month to my slumlord you idiot. While you pay the bills as the property owner on a depreciating asset I have chosen to travel free from the ties that bind you.

Conversekidz said...

I'm 25 and rent......and with how expensive the bay area is, I don't want to tie myself down to a $5,000 month payment (piti).

So I live in an apartment, however if I found out I was not hired because I rented over owned a home, I'm pretty sure the lawsuit would win me enough to buy a home :)


I guess i'm a loser though....cause I don't own...

Anonymous said...

JUST ANOTHER DUMB ASS BUSHBOT

DAGG said...

Mark Kiesel of Pimco,over 25 years old, a multi- multi-muillionair is renting. you call him an imbecile? You are the looser in this market.

U.S. Credit Perspectives
Mark Kiesel | May 2007
Still Renting

http://tinyurl.com/3acrow

David in JAX said...

Real employer here (not like that idiot). Good employers definately do not take home ownership status into consideration when looking for new employees. Good employers do take into consideration who is going to make the company the most money by being skilled and compatable. We have owners and renters and I never discuss housing status with them unless they ask. And I would never criticize an employee for owning or renting. That is a really good way to make yourself look like a complete idiot in front of people who need to believe in you to get their jobs done.

By the way, I now rent after selling my home two months before this area's absolute price peak. Not looking for the bottom, but will buy again when I can get absolutely what I want for the price I want. All cash of course.

David in JAX said...

One more thing. Does anyone really believe that he has "home ownership status" on an employment application? That's a real good way to get your company sued for discrimination. Even saying it proves he/she isn't an employer or even in a management position.

Anonymous said...

This guy is an idiot. I am in the mortgage business, and sucessfull and 26. I rent and have not plans on buying in this market, especially in NORCAL. All of my friends and collegues who puchased in the last 2-3 years all asked when I was going to buy. And my reply was 2010...why, you may ask? Well every single one of these people asking this question bought with 100% financing and are all upside down in their house. struggling to pay $3500+ mortgage payments, while I pay $1500 to rent a similar house in the same neighborhood, investing my money into an asset that is showing positive return, not losing my shirt because I had the live the "American Dream."

Anonymous said...

He's just a bitter recruiter for Taco Bell... if he's only hiring 24 and younger crowd, or that sick "fxck" is into kiddie porn.

Anonymous said...

nice.

I would concur with that poster, although I think he is a little too harsh. I would say if at 35 you still rent you aren't getting hired by me.

Anonymous said...

This is clearly the post of an FB! For an FB it isn't easy admitting they lost all their life savings and hard work in a housing ponzi scheme. Probably, same FB lost money in the tech stock crash and is now beside themself knowing they will never be able to admit they are twice losers.

_____

You hit the nail on the head. The whole tone and the content smack of what a true FB would say.

Those who point out that this guy is in all likelihood NOT an employer, and that it's a ridiculous concept to look for housing status on a resume or an application, are also correct.

Anonymous said...

I rent a 3 br 2.5 bath 2k sq ft TH in NOVA w/ a deck. If I "owned" it then I would be paying ~3k/month in PITI&HOA. After tax breaks I'd be in the mid 2k range.

Well I'm renting for 1850 & I get to walk and/or bike to work, thus avoiding commuting costs.

I cannot tell you how many people "own" and live 2 hours away and pay more in monthing housing costs.

Lower housing costs & no commute = more money in my pocket & a better quality of life.

But I'm just a stupid renter.

Anonymous said...

david in jax:

Lots of employers run background and credit checks. You can tell immediately from a credit check if it's a renter or owner by the lack of a mortgage.

I suppose if you buy with cash then that could confuse the matter. But how many 25 year olds buy a house with cash?

And obviously you won't tell the prospect the reason for rejecting him.

Anonymous said...

have to agree with the guy... without the explatives. Long term it does not make sense. If you want to play the market that's fine. My family is in stable 100% owned RE

Anonymous said...

This guy should be the 2007 recipient of the Assclown Award

Anonymous said...

If I'm paying for a mortgage at 25, I'm probably not living. Would anyone want to work for this loser? Obviously he grew up in a situation where his parents probably took all the fun out of life for him. They told him he had to watch every single penny. He had to work while all the other kids were out playing street hockey.

Me, on the other hand, went to school, traveled the world shortly thereafter, embraced life, wasn't tied to every nickel and dime, especially at 25. I eventually started watching my money better (well after I actually tired of perhaps too much fun), and now have a great career, family life, friends and I'll bet that I make a great employee, having sowed my oats. It all made me less bitter, yet wise to the ways of the world. Certainly great attributes for a clear-headed, happy employee.

I became responsible with my money and, hell, I'm sure I didn't get every ounce of positive investment in life but, when they put the last shovel of dirt over my casket, they won't help but notice that grin on my face.

The grin of living life pretty much to the fullest and pulling up the nose just in time for my family to be comfortable.

All work and no play, makes one sad-ass MF.

Pity the boss who gained the world and lost his sorry ass soul.

Remember: There isn't a normal human being that, while on his deathbed says, "Jeez, I should've worked more."

Anonymous said...

Renters just accept the fact the world views you as 2nd class citizens. I know some of you are decent people. But fact of the matter is the vast majority of people who rent do so because they can't buy.

And you know that is true. Would you want to live in a neighborhood where everyone is a renter? Hell no. Why not? Because renters in general are human filth. You know it as well as I.

Alex said...

I live in the UK, I've paid off my mortgage and I have a reasonable pension, However if I were starting out now I would be renting
as for the poster of the rant, well, what a silly little man

bryce in canada(Vncvr&Clgry bubbls) said...

RE: "Renters just accept..."

No; human filth is as follows:

(A) people who 'buy' homes they cannot afford;
(B) people who lend money to the people, and for the purposes, set out in (A);
(C) people who think there is anything unreasonable or problematic or unjust about the people in (A) being foreclosed on;
(D) people who describe foreclosures as "people losing their homes";
(E) people who believe in any kind of government assistance, direct or indirect, for the people described in (A) and (B).

f'ed said...

check it out, "Bennie and the Inkjets"

http://articles.moneycentral.msn.com/Investing/ContrarianChronicles/RecessionIsntAnIfButAWhen.aspx

and the Great Inflation Fraud
http://www.slate.com/id/2174867/nav/tap3/

Anonymous said...

Attacks getting more vicious and hateful. These brilliant successful homeowner sure care a lot about what us useless, nasty renters think. Otherwise, why bother posting?

Yoski said...

"If you’re over 25 and rent you can forget about getting hired!"
So you only have desperate debt slaves working for you. Smart move on your part. I guess you can get some good mileage out of those poor suckers. Hey, I need you to come in this weekend, we sort of have to play catch up. Surely the debt slaves will take it, loosers.

keith said...

Good idea to only have employees who have no money to their names and massive debt working for you

Might as well be chained to the desk. Or the drive-thru

Anonymous said...

He probably lives in Gilbert or Chandler Az and is watching his equity shrink every night while he sleeps.

Anonymous said...

Blowfy here again.
I have another confession to make (f*ck I must be drunk).

My whole life I have always thought that people who rent are beneath those who own. That was the beginning and the end of my analysis -- I even wrote it out on a napkin once.
So, anyway, I made a point of buying something as soon as I possibly could, without paying any attention to the price or the market conditions.
The soonest I could do this was 18 months ago. The only terms I could get were a 40-year ARM, no momey down. They told me the $400.00 downpayment I brought wasn't necessary. I thought that was awesome and I signed right away. And I was $400 richer, just like that.

Anonymous said...

why do all you renters assume everyone is in over their heads if they own a home?

geezuz you sound as retarded as the guy who said he won't hire a renter

do you know that 35% of all homes are owned free an clear? i'm pretty sure those people are doing just fine.

plus anyone who bought 2004 and earlier is just fine as well

all these generalizations are so fucking retarded

keith said...

tick, tick... OH, there goes another few thousand in equity

tick, tick... OH, there goes another massive payment

tick, tick... OH, there goes my condo association fee

tick, tick... OH, there goes my property taxes

The clock keeps ticking on desperate homedebtors' depreciating assets and massive payments

Meanwile, rents keep dropping as record housing inventory builds

Any questions?

Ed said...

March 31, 2008

That is the date when Las Veags will rebound.

http://www.emediawire.com/releases
/2007/10/emw559162.htm

daniel said...

What a fabulous snob. Dude: my wife and I rent because we can't afford to buy, based on inflated prices in our area.

So how 'bout this: you pay your employees more, and we'll buy. Deal?

smitty said...

a boss with "mouth rage" like that wouldn't be worth working for... time for suzanne to work 'em over....

marinite2 said...

"If you’re over 25 and rent you can forget about getting hired! You sorry ass dip-shit imbeciles. You really don’t get it"

I'd like to know who that employer is as I would sue the crap out of him for discrimination.

Anonymous said...

I have a question:

If the price of my house gets cut to only half of what I paid for it, then I only have to pay the bank back half the mortgage amount, right?

-Blowfly

Anonymous said...

I would concur with that poster, although I think he is a little too harsh. I would say if at 35 you still rent you aren't getting hired by me.

I am 35 and I rent.

My conclusion: before you spread caustic viewpoints on your perception regarding renting versus buying, try coming to live in Silicon Valley for a while. Let's see how high and mighty you are.

From my standpoint, I could buy should I choose to do so. Either here or elsewhere in the country. Why don't I own? Because I am absolutely convinced that we are in for a long, protracted downturn in housing and that from a cost/benefit analysis, renting is the far more lucrative choice at this stage. Especially in the Bay Area.

As it stands right now, you have two choices: either rent or rent money to buy a home.

In my area, the rental cost of a particular real estate asset is roughly 2% of the cost of home ownership. So in other words, my choices are:

1) Rent at a 2% interest rate from landlord.

2) Buy at a mortgage rate of 6-7%.

Personally, I prefer the former.

And if someone's view of a "second class citizen" is whether they are home-owners or not, that has to be the most narrow minded view-points I have ever heard of. And quite frankly, unless you own your home free and clear with no debt, you are not a home owner either. You are a home debtor who is in a position where he has far more leverage against him.

Anonymous said...

Sorry, but I have to agree with the troll. I mean, ok the housing collapse has come, Phoenix is the center of death, the dollar is in the toilet yada yada yada. IT IS ALWAYS THE SAME ARGUMENT FROM THE SAME PEOPLE. And there is always that token "Never Cold Call Guy" that moved from Scottsdale which always has to go out of his way to bash Scottsdale. Seriously, I used to like the insight here a while back, but now it just seems like the same arguments over and over. The housing bust has come and GONE. You guys were early, but I think the end of the pain is closer than the beginning. Houses are only going to go down so far, and then nothing. Unless of course you think that no one is reproducing anymore and there is going to NEVER be any more home buyers which would probably be the dumbest argument yet. I read all the doom on here, and have been to both Phoenix and Florida recently making an effort to find all this blight and death that is spoken of, and I see a few for sale signs, and may be some houses with a weed problem, but I have yet to see an actual subdivision empty, or see a neighborhood with foreclosures on every street. This is hype, just like the boom of "get rich quick millionaires". Get over it, move on, enough already. BTW, I am a renter, so I don't particurly like the tone of the troll, but I can see his point.

Mark in San Diego said...

Just got home from a bike ride around San Diego Bay (being retired early). . .to my 800K RENTAL condo on the 16th floor 2/2 with a great view. . .all for 2500K a month!! If that "employer" knew anything about finance, he would know that buying now is INSANE!!

Anonymous said...

I AM AN EMPLOYER TOO AND IF I EVER FOUND OUT THAT THIS IDIOT WORKED FOR ME HIS ASS WOULD BE GRASS. HE IS THE TYPE OF PERSON EVERY EMPLOYER FEARS. GIVE HIM RESPONSIBILITY BECAUSE HE SHOWS ONE SIDE OF HIS PERSONALITY TO YOU AND ONE BEHIND YOUR BACK TO THE REST OF YOUR EMPLOYEES. HE IS POMPOUS AND IRRESPONSIBLE.

Anonymous said...

why do all you renters assume everyone is in over their heads if they own a home?

_____

It may give comfort to some who have landlords and who are considered second-class citizens by many.

NOT that it's the smartest thing for everyone to sign up for a big mortgage, because it isn't.

However, calling an FB "landlord" can really suck.

I hope a few who choose to rent will acknowledge that.

Mark in San Diego said...

Actually, now that I have cooled down from reading this, I agree that this guy is a FB and there will be more hate and anger out there - we are WAY past denial and well into fear and anger. . .this is all part of the healing process. . .next step capitulation. . .then finally acceptance.

Anonymous said...

Renters just accept the fact the world views you as 2nd class citizens. I know some of you are decent people. But fact of the matter is the vast majority of people who rent do so because they can't buy.

And you know that is true. Would you want to live in a neighborhood where everyone is a renter? Hell no. Why not? Because renters in general are human filth. You know it as well as I.


_____

I wouldn't go that far. But usually they are people who haven't figured out how to generate enough income to comfortably afford a fixed-rate mortgage on today's houses. They are very bitter that they can't afford houses at these prices, and many people can't, so of course they have to cheer for things to melt down so they can afford to get into decent homes, most of which are still out of reach for many Americans.

Anonymous said...

I make six figures annually, have a six-figure savings account and rent a nice home near the beach. I know multi-millionaires who have sold their homes and now rent. This dickhead sounds like he's angry that everyone figured out what he couldn't. If he owns a company, and I doubt he does does, he won't much longer, he's much too stupid.

David in JAX said...

Anonymous said...
david in jax:

Lots of employers run background and credit checks. You can tell immediately from a credit check if it's a renter or owner by the lack of a mortgage.

I suppose if you buy with cash then that could confuse the matter. But how many 25 year olds buy a house with cash?

And obviously you won't tell the prospect the reason for rejecting him.


We always run a credit and background check. But that comes after the application process. An employer would never run them on every applicant because that would cost a fortune. So, again, sifting through applications and looking for housing status is complete bs.

Anonymous said...

daniel said...
What a fabulous snob. Dude: my wife and I rent because we can't afford to buy, based on inflated prices in our area.

So how 'bout this: you pay your employees more, and we'll buy. Deal?

October 08, 2007 11:31 PM
----------
Excellent point, if wage inflation had matched RE price inflation then all this would be a non-issue.

But less we forget it was all the fake equity that fueled consumer spending the last 5+ years to keep the economy humming and NOT wage increases. The RE bubble has taken the economy as far as it can go, employers must now step up to the plate and put 20%+ per year wage increases to keep the economy this going!!! You must do your civic duty like the rest of us!!

Anonymous said...

Alex said...
I live in the UK, I've paid off my mortgage and I have a reasonable pension, However if I were starting out now I would be renting
as for the poster of the rant, well, what a silly little man

October 08, 2007 10:50 PM
--------
Alex, agreed 100%!!

I second that post!!

getyourselfconnected said...

The good old Bitter renter versus Homeowner debate!
My personal experience:

http://economicdisconnect.blogspot.com/2007/10/bitter-renters-vs-homeowners.html

Anonymous said...

Hahahahaha.

Yes I am a so called peon and bitter renter. Also sleep well at night and just bought a car for cash with plenty left over to still pay cash for a house.
I will continue t look like a peon waiting for all the hotshot homedebtors colapse fianncially before my eyes.

HA!!!!!!!

Anonymous said...

plus anyone who bought 2004 and earlier is just fine as well


wrong. Just saw a house that was bought in 2004 and was sold for a $100,000 loss. Wrong again.

Anonymous said...

I still rent and I'm 35, does that make me a loser? I earn north of $150K per year and have a Master's degree in Finance, and a CFA.

I was ready to buy in 2001, but we were in the middle of a recession and housing has never not gone down in a recession; except the last one. So I didn't buy. In 2002 I didn’t buy a house as my job is very much tied to the stock market, which was at multi-year lows, and I was planning to go away to school if I got laid-off. In 2003 interest rates were at all time lows. Myself as well as just about every bond maven out there forecasted interest rates to increase. Interest rates and real estate prices are very much negatively correlated; so I didn't buy. Plus, after 4+ years of significant housing appreciation it seemed like it had had its run. 2004- 2005, I started to crack. Housing was still going up without any signs of slowing. The only thing that kept me out of the market was the housing bubble blogs. All my financial sense told me that this real estate market was overvalued on any measure. I was the lone stand-out among my peers who refused to get on board the Ponzi scheme that is real estate.

2006- 2007, I sit back and laugh and laugh at all those people and companies who ignored the basic rules of finance and thought that housing was meant to appreciate 10% a year forever because "they're not making anymore land."

As for the guy that wouldn't hire me because I don't own a mortgage, I wouldn't hire you either; not because of your home ownership status, but because you’re stupid.

pwnd

Anonymous said...

"This guy is an idiot. I am in the mortgage business, and sucessfull and 26. I rent and have not plans on buying in this market, especially in NORCAL. All of my friends and collegues who puchased in the last 2-3 years all asked when I was going to buy. And my reply was 2010...why, you may ask? Well every single one of these people asking this question bought with 100% financing and are all upside down in their house. struggling to pay $3500+ mortgage payments, while I pay $1500 to rent a similar house...."

Nice. Perpetuating the stereotype that mortgage brokers are just greedy bastards only interested in their commissions at the expense of everyone else.

Tell us successful mortgage "professional", did you counsel every potential borrower on the dangers of 100% financing? Did you share with them your sage wisdom that the "best time to buy" is not now (like the NAR would have you believe), but in 2010?

Anonymous said...

I love renting my home in Coastal San Diego. It is a beautiful home and I pay under $2,000 a month. We have 4 bed rooms and about 2500 sq feet. Takes about ohh...under 5 minutes to be on the beach.
Now if I was a "home owner", I would be paying out the @$$ to live here. All of the homes around here were going for $850K+ last year. Want to know what they are going for now? I will give you a hint......MUCH LESS THAN LAST YEAR. LOL LOL
I have never understood the whole "I own a home" mentaility. You dont OWN the home until it is paid off. You are renting money from the bank.
I love being a renter and will rent for at least a few more years and then I will buy at a very nice discount.
I have all of you GREEDY homeowners to thank for the huge discounts that I will enjoy.
Thank you, Thank you, Thank you!!!

Anonymous said...

Home ownership is great.

Look up the word "ownership" in the dictionary and ask yourself who owns your home?

dalembert said...

Are renters a protected class? Isn't the troll free from discrimination suits?

50% chance that Keith wrote that to stir the pot and rile up the bubbleheads.

Some sh*t different day. Wot?

Anonymous said...

I think the stated reason ("smart people buy houses") is a smokescreen.

Short story: I graduated from college in 1992 and moved to S. CA. There was a pretty rough recession going on so finding work was hard. I even applied at a car lot to be a salesman. During my interview, I was asked if I liked to gamble or take cocaine. Of course I said "no" (a true statement BTW). The guy interviewing me shook his head and said: "you know, it often works out that the best salesmen have some kind of expensive bad habit -- it makes them really hungry for a sale."

So here's what I'm thinking about this troll -- he looks look for homedebtors so he can take advantage of them. He knows that missing a couple paychecks means forclosure to most people, and as a result, he can be a prick boss and cheat his employees (unpaid overtime and the like). If someone is in an affordable housing situation, they tell him to "stick it" and go get some other work.

Anyway, this guy is looking for people he can treat as slaves -- not smart people who look at income and expenses and determine just what is honestly affordable.

Anonymous said...

I'm renter/bubble sitter who sold at peak. I also hire/manage very well paid software engineers. Would be nice to know who rents and who owns during the interview, even though I know it's inappropriate. Renters would certainly get credit for better desision making skills although would likely be more career mobile. Owners are more desparate, will put up with a lot more and will likely stick around longer because they're basically stuck. That being said, if I know someone is a recent home purchaser I would certainly take a second look at all of their at work decisions affecting my department.

Erick said...

Lets profile this jackhole:

A) Republican
B) Type A Personality
C) Uses argumentative fallacies to intimidate others.
D) Tries to establish credibility by making generic statements like being a manager/ business owner. In all reality, how many managers do you know that have half of a brain more than the folks that work for them.
E) Tries to dominate everyone he meets.
F) Will die of a heartattack at a young age (thank god, at least I can retire knowing the F*ckhole is dead and buried).

formercalifornian said...

The poster is a jerk. No doubt about that. Nonetheless, I understand his position.

When things get ugly at work, he would rather have an employee who will stick it out. Having a mortgage is a very good incentive to keep your nose to the grindstone. The last person he'd want to employ is a renter, who has minimal financial burdens to keep him committed to the job.

Employers have the same problems with wealthy employees. My spouse's former boss made a mint in a tech company buy out. She hit the road when the Program Manager made her the scapegoat for his incompetency, because she had no reason to stay.

veritas_faust said...

As a headhunter for a few years now, I have NEVER had anyone ask me about housing status of a candidate. Nor have I ever had a client remark or elude to a person's home ownership status as a qualifier.

It sounds like:

1) The guy is full of shit...I know shock and amazement fill the room.

2) He is currently typing away from a RE or Mortgage Broker office trying to scare up business.

Of course it could be legit...but I doubt it.

Budvar said...

All I can say to this shithead is I rent a $320k 4bed/2bath 1200sq/ft house (which is big for here in UK) for $676 a month!!

Now I could buy the place for $2132 a month interest only or repayment for $2470 a month. Is the house likely to gain over $1800 a month in value over the foreseeable future? Not even close, this bloke is a complete and utter tit!!

I'm a small time building contractor, I drink with other contractors on a weekly basis. I listen to them talking telephone number property portfolios etc, but with the exception of very few, none of them have a f*ckin dime to scratch their arses with, and without exception the big fancy motor in the carpark they drove there is on a lease.

I've worked for bozos like this guy before, you go there to change a tap washer and end up remodeling the house.
Then at the end of the month when you want money from them you have to go racing them round and have to resort to physical violence before they pay up, and you still end up being shafted.

The only way I do work for these types these days is 110% up front and the rest on completion, anyone in the building trade will know exactly what I mean by this.

dba said...

I agree with everything that has been said about this wackjob. His anger is very transparent. Actually, he appears scared rather than angry. Not to defend him, but there is nothing per se illegal about refusing to hire someone based on home ownership. Stupid, but not illegal discrimination. As one of the previous posters said, more and more employers are asking for credit reports before hiring. When people ask me why they are starting to do this I respond that the more interesting question is why they havent't been doing it all along. As we all know, you can tell a great deal about someone by looking at how they manage their own money.

Anonymous said...

Yoski's right--this FB wants to hire homedebtors who have no choice but to do whatever he says.

I worked for some assclowns like this a couple of years back--they'd spend 3 hours/day on a train from the Chicago Loop back and forth to their McMansions halfway out to Iowa, then make all sorts of disparaging comments about how sad it was that I had to rent a 43rd-floor apartment (1BR but hardly a sh*tbox) three blocks from work for $1300/mo from another assclown who paid $350K + $200/mo assessment.

I'm sure we'll be hearing more from these sad little folks as this drags on.

Anonymous said...

I thought employers mainly checked your credit.

Anonymous said...

How many people put housing status on their resume? Does it go after or before your job history and experience but before hobbies? Perhaps after education?

What a loser. Wouldn't surprise me if he has an employee retention problem.

Illegals Everywhere said...

Sold my house at the top during mid 05 and have not looked back. Interest from the proceeds pays my rent and utilities every month and when I finally decide to buy again I can pay cash.

I could care less what some bitter F’d Buyer thinks about me. You don’t have to be a genius or a crook to succeed, just smart enough to know when to buy and when to sell.

To all the phony rich debtors that look down on me because I rent and drive a Nissan rather than an Infiniti! KMFA!

BTY that supposed employer; he wants a slave home debtor working for him because he knows they will eat $hit to keep their pathetic job to make those horrendous payments for the next 40 years..

Anonymous said...

I have been saving my hardest to buy a house but when prices rose faster than my ability to save for a deposit. So I am not a gambler like a no deposit home owner, I would be a safer employment bet IMO.

What about the whole generation of kids who were basically locked out of owning a house because of affordability issues, do they deserve that kind of disrespect for being born to late?? what an arse!

BTW at 25 I was leaving my home country to travel around the world for 3 years.

andy in NZ

Tanker said...

It is illegal to look at whether someone is renting or owning. Please let me know the name of your "company." Or, you can let us know how much you are in debt up to your eyeballs and try to get an accounting position at my company. Fool.

AmazingRuss said...

keith said...

Good idea to only have employees who have no money to their names and massive debt working for you


Thats what I came in here to say. I've heard the higher ups in companies I consult for talking about this exact thing. They will hire people regardless of housing status, but they drop hints about buying a house during the honeymoon period of employment. It makes good business sense. A debt slave has to bend over and take whatever you shove up there.

I'm so glad I went freelance, with cash in the bank. I make more money, and clients are super nice to me to get me to come work for them...especially since I cut back to a couple days a week.

A house of my own will be nice, when I can pay cash for it. There's no way in hell I'm giving anybody the amount of control over me that a mortgage does. It's really sad how many people line up to give away their freedom and economic output.

LauraV said...

This guy must have lost 50k of equity recently...

Probably a FB, working at Countrywide...

Middle management jobs are not a good place to be right now...

LauraV said...

This moron would rather hire someone with bad credit just because they own!

Good luck with that!

Anonymous said...

Be honest people. We all would prefer to own. In some cases it's better to rent, but owning is an objective. Owning smart is a goal. Paying too much or buying for show is stupid.

I for one don't rent, I own (no mortgage at 41). But, I rented for over 10 years. I saved, traveled, went around the block twice and tasted everything on the menu. When it was time to settle down, I bought. I then worked on paying the mortgage off.

Anonymous said...

Thats awsome, debtors or re guys are getting pissed now.
I am a owner, bought back in 91, but I have a basic understanding of economics, plain vanilla 30 year fixed, never atm'd, boring boring.
This guy is watching his equity wash away and is pissed.
Mine is going down also, but I never counted on it, its home for me not an "investment".

Anonymous said...

Come on people.....let's make the guy feel better and go buy a home from him that he can't sell.

Anonymous said...

Hey, I have owned my own buissness for 20 years. I rent. Any of my employees who bought in the last 5 years are probably young or now well on his or her way to bankruptcy. You have NO idea how bad this is going to get Everyone is a f!!!cking real estate expert.

Anonymous said...

This particular prejudice is probably pretty common among employers (though I too suspect this troll is NOT an employer).

It's self-interest all the way. If employees are shackled to huge mortgages, they're essentially indentured servants.

The independence of renters makes a certain sort of employer nervous.

Not that there's anything wrong with THAT!

Anonymous said...

Oh dear, I can't work for this wonderful human being?

I am so sad now.

Alice said...

My landlord is coming next week for his annual walk through to determine what routine maintenance needs to be taken care of so that he can budget it. Last year he replaced the roof , repaired the upstairs shower, and repainted the kitchen. I rent a 4 bedroom house on land in Northern Virginia for half the price of owning. My rent was not increased last year because of the downward pressure on rents and the difficulty that he would have filling the place. That extra 50% I'm saving goes straight to the college fund for the kids. I sure am stupid and not worth hiring.

Anonymous said...

WAAAAA WAAAAA WAAAAA

I'm a big crybaby.... my hose is losing value right now.... I should have listened to that one friend..... If on;y sold 2 years ago....

Did i sum it right??

Anonymous said...

I honestly can't believe people actually think like that. He actually believes he is "classier" than renters.
Sorry, but all renters over 25 are not too poor, or too stupid to buy.
My wife and I are both over 25, both physicians, both 35, and definetly make enough money to buy in this idiotic california market. We're also TOO SMART to waste that kind of money when for 5k a month we live in the same place we could "buy" for 2 million and watch as our "investment" sucks our hard earned dollars away. And no, you wont be seeing me applying for a job at your "business". But you may see me (or my wife) taking care of you in the ER, so maybe you should be a little nicer to renters :-).

me in OC said...

"a shit-hole 1BR"???
Don't make me laugh.
Where's this guy been?

Anonymous said...

I learn quite a bit from these blogs. Tonite I learned nothing.
Renters-lets enjoy prices coming back down to reality! Homeowners-Enjoy your homes! Pricing is what it is and what someone will pay for the home. Let's remember were all Americans (Although their were some homeowners who are actually illegal aliens, that is really crazy) NO Bailouts, No tax breaks!
You win some and you lost some. Pick yourself off the ground after you lose. I'm going to be hanging out with the cheerleaders!

Chill folks!

Anonymous said...

I cannot for the life of me understand why anyone would want to tie themselves to a MILLSTONE like a house before the age of 40 much less 25.

People who owe (not own) their house get the seminal experience of working some shitty 9-5 job for some retard with 1/2 their IQ for 40 years, living in the same town, with the same boring life until they magically get to retire and drop dead of boredom shortly thereafter.

I've never owned a house, I've seen the world instead - south america, mexico, europe, russia, china, alaska - I lived them all - and now I have a beautiful brilliant wife and a couple of great kids - and still no millstone. I get paid tons of money to work 6 months a year and play with my kids and wife the rest. And with ten years savings in the bank no less.

I do what I want when I want - in many ways it's a dream come true.

The SYSTEM is a whole class of sadistic vampires that suck the life from decent people - keeping you always AFRAID so that you run the rat's race as hard as they need you to. Cube farm vs. prison - what's the difference. And the biggest prisoners, the biggest suckers/morons of all are the ones at the very top - believing/drinking their own poison - patting themselves on the back the hardest because if they ever opened their eyes for one second they would see their entire fucking life was just one very bad, incredibly boring life-sucking waste of oxygen.

OWING a house is just one of the shackles that keeps you tied to this hell on earth.

And oh what a waste of life to come to the very end and to find how very foolish you have been spending the decades slaving to pay for your house when you could have had a real fulfilling interesting life.

Anonymous said...

Dude, Kieth, quit pulling our chains. That's a fake post. *No* employer is that dumb!

Frank@NeverColdCall.com said...

Most of these 700-800k houses are around 1000-1200 sqft, 2 ba 2bd types. It makes no rational sense to spend this amount of your income on something like this, especially when it is depreciating in value.

It does to someone who is hopelessly insecure and who needs to boast "I own" to prop up their ultra-fragile egos. Basically these are the same people who have a BMW in the garage but don't have $10 left over to put in the gas tank.

I'd be pissed if I were losing thousands of dollars of equity every month too!

Exactly, shortly after I moved to Scottsdale Arizona I realized the people there are the rudest and nastiest in the US because I would be too if day after day I had bill collectors and repo men on my ass.

Mark Kiesel of Pimco,over 25 years old, a multi- multi-muillionair is renting. you call him an imbecile? You are the looser in this market.

Chris Squire of the rock group Yes has never owned in his life and continues to rent due to the lack of maintenance, mobility, and overall freedom. Oh yeah and he's worth around $40 million.

Frank@NeverColdCall.com said...

A) Republican
B) Type A Personality
C) Uses argumentative fallacies to intimidate others.
D) Tries to establish credibility by making generic statements like being a manager/ business owner. In all reality, how many managers do you know that have half of a brain more than the folks that work for them.
E) Tries to dominate everyone he meets.
F) Will die of a heartattack at a young age (thank god, at least I can retire knowing the F*ckhole is dead and buried).


So what you're really saying is he lives in Scottsdale.

Anonymous said...

I'm 50 and I rent - I've been all over the world. A CEO I used to work once told me - don't limit your career to a location - that said I might be getting a new job in a different state - so the move is a breeze - no 'dip-shit house to try and sell' - RICH FOLK buy cash or rent!!!

Anonymous said...

The letter looks like it was written by a 16 year old high school drop out.

Tangelo Mozilo said...

So everyone on the late shift at Denny's is a homeowner?

Impressive.

Anonymous said...

Anonymous said...
Attacks getting more vicious and hateful. These brilliant successful homeowner sure care a lot about what us useless, nasty renters think. Otherwise, why bother posting?

October 08, 2007 11:00 PM

---------------------------------

It seems that ALL of the hate comes from f'd borrowers. People that are spending a significant majority, or all, of their income on housing seem to be upset by the fact that housing may not be a win win situation. Lately, housing has been for purposes of investment and investment only. Now that some are loosing valuable equity, reality of that is uncomprehensible for many. Especially the ones with the attitude problem. So yell and attack all they want, we didn't make you sign your life away.

Anonymous said...

Anonymous said...
The letter looks like it was written by a 16 year old high school drop out.

October 09, 2007 1:27 PM

Bingo!

Tangelo Mozilo said...

Scottsdale Denny's

Anonymous said...

I'm a GC at a major financial institution and trust me there is no check box for own or rent on an application. How the hell would someone know whether you own a condo based on the address. Any retard with enough time to troll here probably has enough time to do a title search on the property!!LOL

Anonymous said...

Renters just accept the fact the world views you as 2nd class citizens. I know some of you are decent people. But fact of the matter is the vast majority of people who rent do so because they can't buy.

And you know that is true. Would you want to live in a neighborhood where everyone is a renter? Hell no. Why not? Because renters in general are human filth. You know it as well as I.

-------------------

6 figures here... saving $6500 a month... paying $1100 a month on a house that was purchased for $600K in 2005. (owners are independently wealthy and plan to tear the house down in 10 years so no foreclosure worries...)

That's about 1/3 to 1/4 of carrying costs down here in Florida where taxes and insurance are high (it's on a canal across the street from the beach)...

Would I want to rent a 1 bedroom crappy apartment in the slums? Nope. Am I happy to rent a $600K house for 1/4 to 1/3 of carrying costs in a great neighborhood? Yeah baby... It's like having a rich uncle...

Anonymous said...

Anonymous said...

I still rent and I'm 35, does that make me a loser? I earn north of $150K per year and have a Master's degree in Finance, and a CFA.

=======

I don't care if you have 20 masters degrees. If you rent at 35 you are a loser.

Anonymous said...

FRANK:

STOP

TALKIING

ABOUT

SCOTTSDALE

YOU

SOUND

PATHETIC

Anonymous said...

"Let's remember were all Americans (Although their were some homeowners who are actually illegal aliens, that is really crazy)"

Dude, I'm Canadian w/ a USA green card.

save the greenbacks said...

I rent a 4br 3 bath house at the Jersey shore that is literally a stones throw from the beach for $1500 per month. The house is also for sale for $899,900 (reduced from $1.1 mil). Explain to me how that makes me incompetent with no character.

Anonymous said...

"Homeowners" are keeping their homes vancant or renting them for negative cashflow until prices come back. Yet, those prices were artificially inflated due to loose lending causing them to be uncoupled from fundamentals. That part is ignored, but some how they are smart because they are holding out for a price that either should never have been or would have taken decades in a normal market. Yet they want it now for just a few years of ownership.

Current buyers refuse to purchase if its not coupled to fundamentals. In the interim they rent it from the FB that refuses to accept a price coupled to fundamentals and the save the delta b/t rental vs ownership and they obtian income from the downpayment that would otherwise be a non-performing asset. Furthermore by not owning as prices deflate they gain equity while current owners who refuse to sell lose equity!!!

But somehow the homeowner is smart and the renter is dum? I beg to differ.

Anonymous said...

if banks issued 10 or 20 ? dollars of debt for every dollar of deposits and the fed printed dollars, yet wages stagnated, what is this feeling of a land grab scheme... and sucker is whom.......

Anonymous said...

That hiring manager obviously doesn't work in NYC. Schmuck, get a life, if your over 25 and don't live with your parents in NY your ahead of the curve. By the way who puts their living status on their resume?

dean said...

If Google, Yahoo, and Microsoft didn't hire people who rented their homes, they would go out of business.

Sofia said...

According to the NY Post, Brad Pitt and Angelina Jolie are plunking down nearly $100,000 a month to rent a super-deluxe pad in New York.

I wonder if the letter writer thinks Brangelina are losers for renting.

Anonymous said...

I think the person who wrote this is for real. My last employer used to think like this. In fact, they would pay your moving costs on a house in Socal including the cost of selling your existing home up to $35-$40k.

I rented at the time and decided to continue rent when I moved to Pasadena for a new job in 2004.

Of course they didn't like that because when they tried to promote move me to a job in sh*thole Tucson I told them no thanks and they promptly pushed me out the door. Most employers love having employees that will do whatever they say. The slave comparison that many have been using is absolutely true.

I love renting. I've lived in NY, Northern and Southern Cal, and Pheonix. It's allowed me the freedom to take a job when I want, where I want, without a worry in the world. It's also allowed me to save for 2 trips around the world and my now annual 10 day surf trip to Costa Rica.

I'm 36 now, married and a little more settled but I still rent. I'd consider owning but a place of comparable size with a pool in Pasadena would cost at least $5k a month with 100% financing. I rent a nice, well landscaped place with a pool for $1350 a month.

My wife and I could afford it as we make @$250k a year and have over $500k in savings despite losing a bunch in the stock market bubble and never "owning". We've also shaped our job situation where we both have our own businesses and have 5 minute commutes. I could push it and work for the man and we'd be making well over $300k, but our personal life would suffer just to boost our income another 20% when we currently live on less than 20% of our gross income anyways and just bank the rest (international value stocks mostly btw).

I expect to have $1 million in the bank in just over 2 years, $2 mil in 5 years and $4 mil in 10 at which point I'll be pretty much retired at 46 and spend time with my kids (on the way). I'll just move wherever I feel like it and rent along the way without any worries or stress.

Why anyone lets a home "owner" make them feel like less is beyond me. I've got plenty of friends who "own" and have pulled money out to finance their lifestyle. They drive nicer cars than I do and have mountains of credit card debt, but they have no plans of ever being out of debt let alone retiring.

I on the other hand look forward to the life of leisure a mere 10 years or sooner away.

blt1984 said...

Smells like troll to me...

Anonymous said...

nah, this has to be a joke.

truthsquad said...

Good idea to only have employees who have no money to their names and massive debt working for you

Might as well be chained to the desk. Or the drive-thru


Yup, hit the nail on the head there. Employers aren't looking for humans, they are looking for slaves. This is the same reason they hire foreigners....

Anonymous said...

The "mort" half of the word "mortgage" comes from from the vulgar Latin word for death.

Coincidence?

(From one of those idiot over-25 renters in a 1BR sh*tbox, who blew the money he saved by renting on an Ivy-League graduate education. Oh, if I could only work at the Scottsdale Dennys for that f-tard.)

corvinus said...

"If you’re over 25 and rent you can forget about getting hired! You sorry ass dip-shit imbeciles. You really don’t get it"

..and you could forget my ever considering working for such a ree-tard. You don't get it.

Anonymous said...

Wow he must have bought at the peak. And, since when does any professional put on their resume that they rent or own? This guy must be waaaaaaaay over his head and trying to make himself feel better.

Anonymous said...

"If you’re over 25 and rent you can forget about getting hired! You sorry ass dip-shit imbeciles. You really don’t get it"

Last time I checked you could sue for discrimination for that sort of thing. You probably run one of those sleezy rent to own places or something. Bitter a-hole

Anonymous said...

Did someone forget that you don't own a house until it is paid off. you own a mortgage, which is essentially owning rent money- and you pay a lot more for it, and have to take care of your house, mow your lawn and listen to your wife bitch about it-(or husband). Congrats to all of you who feel it was a major milestone to get a mortgage in a time where anyone with a pulse could qualify. I bet you still tell everyone about your glory days in high school football too.

There are some ignorant posters here for sure- wonder why they even bother coming back here to HP. Do they just crawl out from under the rock to post and then go back in or what.or maybe they are busy watching the media on their big screen they paid for with their heloc.

Anonymous said...

A) Republican
B) Type A Personality
C) Uses argumentative fallacies to intimidate others.
D) Tries to establish credibility by making generic statements like being a manager/ business owner. In all reality, how many managers do you know that have half of a brain more than the folks that work for them.
E) Tries to dominate everyone he meets.
F) Will die of a heartattack at a young age (thank god, at least I can retire knowing the F*ckhole is dead and buried).



you forgot g)
Has an extremely small pee pee!

Anonymous said...

I'm 37, I rent, and I was just hired by an apartment developer as VP of marketing. Renting was a plus.

Take that butthole. Nobody needs your homedebtor snobbery.

Amazingly, we'll survive without you.

Anonymous said...

The Bubbles, Banks and Builders series in the Boom Bust blog is indisputable. Anyone who has any question about what is happening or what will happen should read this. Caution, hard facts approaching...

http://reggiemiddleton.typepad.com/reggie_middletons_perpetu/2007/10/bubbles-banks-a.html

http://reggiemiddleton.typepad.com/reggie_middletons_perpetu/2007/10/bubbles-banks-1.html

http://reggiemiddleton.typepad.com/reggie_middletons_perpetu/2007/10/there-is-this-s.html

http://reggiemiddleton.typepad.com/reggie_middletons_perpetu/2007/10/i-cant-believe-.html

Anonymous said...

save the greenbacks said...
I rent a 4br 3 bath house at the Jersey shore that is literally a stones throw from the beach for $1500 per month. The house is also for sale for $899,900 (reduced from $1.1 mil). Explain to me how that makes me incompetent with no character.


BULLSHIT. Show me 3 other houses worth $900K renting for $1500 on thebeach. I rented a home for $1200 **A WEEK** on the ocean this past summer. You are lying.

ProblemWithCaring said...

October 10, 2007, 8:15 pm

Renters Reclaim Their Bad Reputation

Wall Street Journal - Owning your own home has long been part of the folklore of the American dream: a backyard playground for your kids, two shiny cars in the driveway and a crackling fireplace. And during the housing boom of the last few years, more people than ever were able to make that dream a reality, thanks to cheap mortgages and low qualification standards. Renting — that old standby for young professionals or people with less-than-perfect credit histories — became increasingly unpopular and unappealing.

As Danilo Pelletiere, research director at the National Low Income Housing Coalition in Washington, put it: “If you weren’t owning in 2006, there’s a reason,” and that reason wasn’t pretty. “The stigma of renting was raised to a really high level,” he said. “If you were renting you were a loser.”

But now, the tables have turned.

save the greenbacks said...

Anon 10:43,

Umm, actually I just passed on that house because I found a better one. It is still for rent though. And it is $1500 per month year round. If you don't believe me, call the real estate office at (609)399-8200. It is located at 860 Plaza Place in OC. Appology accepted.