4 reasons americans are losing interest in owning a home

[Hiphoplives4eva]

2015. 10,000 employee's but only 1500 of those are new jobs. We've had inquiries from people from Virginia interested in buying our home willing to pay damn near double what we paid, but I'm not trying to move. My home's value will continue to increase over the next 5-10years or longer, but we'll see what's up.

http://www.houstonchronicle.com/business/real-estate/article/The-Exxon-Mobil-effect-5197565.php#/0

I live in Pearland now, but i'm strongly considering moving to Katy for some investment opportunities. Pearland is thriving as well, but it looks like Katy will be the new hotspot in a few year. I'm up a nice amount on my house right now though, so i can't complain.

 

[Blackking]

well I own 2 homes near downtown detroit. Random CAC will ask weekly or even daily to purchase them for the next 10 years... so i'm not worried.

I only rent to black people.... just to keep some flavor to the neighborhood - since everyone else sold out like some fakkits.

But I just put 3K into one house for painting, sink, 1 wall, and some other shyt..... I used hood contractors so that was on the low.

I can't knock anyone who doesn't buy - NOT because of the mortgage, investment, value, all that shyt- but because you have to do all the maintenance yourself. That is the worst part to me.

 

[Wild self]

If you are single with no long term commitment outside of your profession, rent first. Then own a condo.

 

[Brown_Pride]

It still makes better sense to me to have a home vs giving someone money every month for something you will never own

maybe.
I've given this a lot of thought lately. What are the benefits of owning a home vs say renting a condo? A yard...with yard work? 100% responsibility for the repairs? Taxes? At the end of 30 years being able to say "this is mine?"

Renting saves you money, headache, yard work. I'm not 100% convinced there's any real benefit to owning over renting in the long run.

 

[Brown_Pride]

Ensure yourself of having no wealth and making other people wealthy by not owning anything and paying everyone else.

You pay the same thing or more when you rent/leasing vs purchasing.... same as with a car. You might as well own it. As long as your family keeps paying the taxes on the land, they can live on it.... until the end of time.

Outside of farm property most families sell their parents homes now. It's not like it used to be back in the day when people stayed in a home generation over generation.

You can't take riches with you when you die IMHO having a more generous positive cashflow > being able to say "this is mine". After 20-30 years.

Also take into consideration things like divorce rates and such and there's a 50% chance the home you're "buying" and "investing in" wont be yours any damn way.

 

[Vandelay]

Until economic confidence and job stability come back you will continue to see a negative trend.

Yeah it sounds good to have as a large asset and build wealth but if your not sure about your job and saddled with all other kinds of debt, I don't know how anyone could feel the contrary.

 

[Field Marshall Bradley]

It still makes better sense to me to have a home vs giving someone money every month for something you will never own

You'll never own your home either if you're using a mortgage to purchase it, more than likely. Mortgages only benefit banks right now......If this was the 50s or 60s, getting a mortgage would be a no brainer, but in 2014, I'll pass....

 

[Field Marshall Bradley]

As the old saying goes, you can't create new land (as of yet), but you can always build new dwellings.


Think land. Think acreage.

Think likely boom areas that are currently exurbs. Follow trends. Develop trusted associates/friends who are real estate agents.

Review planning board meeting minutes...if not outright attending some planning board meetings! And know your fukking zoning regs!

Oh, and please, review growth patterns using your city's geoData mapping system and other resources.

it depends. Land will always be valuable. I've seen chinese people buy houses and rent them for fair prices. All the mortgage on the house was paid for by the tenants.

Real estate does not necessarily = land ownership though...But I feel you on buying land.....

 

[Liquid]

People talking about renting is a good idea aren't looking long term.

Imagine never having to pay rent again. That is the only way to beat the real estate game, and is only possible if you buy a house.

Most people are looking at it the wrong way.

Buy yourself a house in a place you don't mind living in for yourself. Who gives a shyt if your property is underwater, you are closer to not having to pay rent. also for those cats in 30 year bids...make sure you are making 2 extra payments a year with those extra 2 checks you bring in per year. Don't fukk up

Any other investment? Look to rent them out

 

[Brown_Pride]

Most people are looking at it the wrong way.

Buy yourself a house in a place you don't mind living in for yourself. Who gives a shyt if your property is underwater, you are closer to not having to pay rent. also for those cats in 30 year bids...make sure you are making 2 extra payments a year with those extra 2 checks you bring in per year. Don't fukk up

Any other investment? Look to rent them out

to what end though? To own some shyt when you're near dead? That's what i'm not digging right now. why spend 2 extra checks a year on paying that off when you use them on yourself or on actual investments? Keeping it 100 unless you're capable of building generational wealth to pass onto your kids and their kids then i'm not necessarily sold on the benefits of dumping money into a home vs into a rental.

 

[Field Marshall Bradley]

well I own 2 homes near downtown detroit. Random CAC will ask weekly or even daily to purchase them for the next 10 years... so i'm not worried.

I only rent to black people.... just to keep some flavor to the neighborhood - since everyone else sold out like some fakkits.

But I just put 3K into one house for painting, sink, 1 wall, and some other shyt..... I used hood contractors so that was on the low.

I can't knock anyone who doesn't buy - NOT because of the mortgage, investment, value, all that shyt- but because you have to do all the maintenance yourself. That is the worst part to me.

I feel ya...If it wasn't for hood contractors I'd be penny pinching around here for real

 

[Wild self]

to what end though? To own some shyt when you're near dead? That's what i'm not digging right now. why spend 2 extra checks a year on paying that off when you use them on yourself or on actual investments? Keeping it 100 unless you're capable of building generational wealth to pass onto your kids and their kids then i'm not necessarily sold on the benefits of dumping money into a home vs into a rental.

I wouldn't mind buying a house when I am making 300k + per year, or when I have a family. Until then, its the condo life for me.

 

[Liquid]

to what end though? To own some shyt when you're near dead? That's what i'm not digging right now. why spend 2 extra checks a year on paying that off when you use them on yourself or on actual investments? Keeping it 100 unless you're capable of building generational wealth to pass onto your kids and their kids then i'm not necessarily sold on the benefits of dumping money into a home vs into a rental.

This is why we don't own shyt. It's the same mentality our parents had.

Where do you live and what is your monthly rent payment? About $900 per month? Think about the savings you will be passing off to your family long term. A home is something your family will need guaranteed and last I checked rental rates have not decreased significantly.

 

[Brown_Pride]

This is why we don't own shyt. It's the same mentality our parents had.

Where do you live and what is your monthly rent payment? About $900 per month? Think about the savings you will be passing off to your family long term. A home is something your family will need guaranteed and last I checked rental rates have not decreased significantly.

I own actually and I live in a pretty damn good area. That being said I highly doubt my kids will keep my home when we're done. Most of the professionals I know who's parents own a home will ultimately sell that shyt because they live in a different state and or already have a home of their own and will spend the next 20 years bulding it up to where they feel comfortable then be posed with the question. "Do i move into mom and dads house or sell it?"

I'm just not sold on it being the best idea for everyone, minority or otherwise. This summer i'll be dropping roughly 10k into my house...10k i wouldn't have to dump into a condo...or even a rental.

 

[TLR Is Mental Poison]

to what end though? To own some shyt when you're near dead? That's what i'm not digging right now. why spend 2 extra checks a year on paying that off when you use them on yourself or on actual investments? Keeping it 100 unless you're capable of building generational wealth to pass onto your kids and their kids then i'm not necessarily sold on the benefits of dumping money into a home vs into a rental.

Again.... do u want to be 60... 70... 80 years old at the mercy of a landlord. Its not about taking it with you or having some bullshyt real estate legacy... its about eventually having one less bill to pay. People buy houses on some 'i dont wanna live here but imma just build up equity and bounce' shyt... ... if people bought houses with the goal of staying in them forever and eventually paying them off the RE game wouldn't be as fukked up as it is.