tag:blogger.com,1999:blog-6557458849091969678.post702177516417708761..comments2023-06-15T09:13:45.467-04:00Comments on Liberty's Torch: Scattered ThoughtsFrancis W. Porrettohttp://www.blogger.com/profile/05862584203772592282noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-6557458849091969678.post-68222132503844068802019-11-03T14:02:30.963-05:002019-11-03T14:02:30.963-05:00Hope you feel better, asthma's a bitch. You k...Hope you feel better, asthma's a bitch. You know, pretty soon your inhalers may be deemed an enemy of the state because they aren't "green". I'll be in trouble with you since I have COPD and take Symbicort and Vebtoltn via inhalers. Kyehttps://www.blogger.com/profile/16399082135529920025noreply@blogger.comtag:blogger.com,1999:blog-6557458849091969678.post-14159042508788035672019-11-03T13:55:45.033-05:002019-11-03T13:55:45.033-05:00Missed BOTH All Saint's AND All Soul's - s...Missed BOTH All Saint's AND All Soul's - sick as a dog with asthma. I figured going into a crowd hacking my guts up wasn't a good idea.<br /><br />Still prayed for everyone. Always do.Linda Foxhttps://www.blogger.com/profile/15024201252345608291noreply@blogger.comtag:blogger.com,1999:blog-6557458849091969678.post-86810703029674428622019-11-03T08:44:28.243-05:002019-11-03T08:44:28.243-05:00(chuckle) The point isn't that renting is chea...(chuckle) The point isn't that renting is cheaper. It's that home ownership isn't an investment. It's just the purchase of something you need: a place to live.<br /><br />I was fortunate to purchase an undervalued home in a community that shortly thereafter became a prized destination. My home's large appreciation isn't the rule for most places. There's also the deterioration of the dollar to factor in. So I've done better than most as regards the possibility of recovering value should I ever sell... but in absolute terms, I still paid more than I can recover. Investments are expected to provide a positive return. Q.E.D.Francis W. Porrettohttps://www.blogger.com/profile/05862584203772592282noreply@blogger.comtag:blogger.com,1999:blog-6557458849091969678.post-68945560128593301712019-11-02T22:55:03.347-04:002019-11-02T22:55:03.347-04:00Oh no you didn't go there!
548,869 divided by...Oh no you didn't go there!<br /><br />548,869 divided by 39x12 months is...$1172 a month. Today, not a bad rent in urban areas. Practically impossible to find in CA. Certainly not for 3 bedrooms.<br /><br />BUT, $548,869 - $410,000 (450-closing costs) is $138,869, divided by the aforementioned 39x12 months is...$296.73 a month.<br /><br />Well, DAMN that's cheap...and you're not likely to find that ANYWHERE there is running water in the USA.<br /><br />I'll never own again - the effort at maintenance isn't worth it to me anymore. I might INVEST at some point because in the long run, it makes money. And buying lottery tickets hasn't paid off yet. Tracy Coylehttps://www.blogger.com/profile/13396494193507308556noreply@blogger.comtag:blogger.com,1999:blog-6557458849091969678.post-72176765474841910762019-11-02T10:04:27.489-04:002019-11-02T10:04:27.489-04:00(chuckle) I'm reasonably sure that buying is c...(chuckle) I'm reasonably sure that buying is cheaper than renting, at least for those of us who need a tax deduction or two. I'm just concerned with the misuse of the notion of "investment" as it pertains to the way most Americans approach real estate.<br /><br />Yes, there are people who grow wealthy through dealing in real estate. Most of them use other people's money to do it (i.e., short-term mortgages) and make a point of "flipping" the properties in which they invest as swiftly as possible. He who can do this in a rising market will profit. The rest of us are better advised to stick to mutual funds -- <i>conservative</i> mutual funds.Francis W. Porrettohttps://www.blogger.com/profile/05862584203772592282noreply@blogger.comtag:blogger.com,1999:blog-6557458849091969678.post-46622722845253189122019-11-02T10:00:16.041-04:002019-11-02T10:00:16.041-04:00I agree with your point about owning real estate a...I agree with your point about owning real estate as you encouraged me to do the same calculations and I had similar results. But we must be doing something wrong since so many people become rich in real estate both owning and renting. Hell, people become rich just renting to Section 8 housing tenants. What is our problem? Maybe we should also take into account the cost the cost we would have incurred if we had rented a place over the years we were buying. After all, we had to have shelter so whatever we would have spent on rent in fairness should be deducted from what we did spend to own. <br /><br />To try and be reasonable begin with what was a fair rent in the year you bought your house in an area you would have lived in (no ghettos to keep costs down) and add about 7% increase per year in rent. So if you would have paid $1000 per month in ten years you'd be paying about $2000. Now figure how much RENT you saved over those 39 years. <br /><br />Perhaps you'll find buying is cheaper than renting. Kyehttps://www.blogger.com/profile/16399082135529920025noreply@blogger.com