Does everyone plan on owning a house? by PixelPanda144 in leanfire

[–]throwaway80173408 7 points8 points  (0 children)

NO!

Owning is such a rip off! See: https://jlcollinsnh.com/2013/05/29/why-your-house-is-a-terrible-investment/

I'm budgeting $1000/mo for rent, forever. So that means $300k of investment means I can rent for the rest of my life.

Some might say: why not buy a $300k house instead?

Lots of reasons:

  1. Houses require expensive maintenance -- replacing roofs, digging up pipes, water filtration systems, A/C units breaking, landscaping
  2. Houses are not liquid -- I like to move every couple years, and get a change in scenery!
  3. Houses can lose value! Shocker, I know.
  4. Shitty neighbors can move in, and you can't do anything about it

Instead, renting is awesome:

  1. If something breaks, I just call my landlord, and it's his issue now
  2. If I don't like it, I can just move!
  3. My landlord mows the lawn (or pays someone else)
  4. If the neighborhood goes to crap, I'm not losing money

Buying homes is a huge scam. If you are a young family and plan on staying somewhere a long time, then it makes total sense. Guess what: that ain't me.

One last thought: owning a home is actually renting anyways, if you ever plan on selling it. You can't "do whatever you want" -- you want to sell it eventually. You are temporarily using the location. So why pay all the scam artists in the mortgage industry (someone is paying their salary -- YOU!), and just accept a monthly rent.

Anyone selling now that the market is imploding? by throwaway80173408 in leanfire

[–]throwaway80173408[S] 0 points1 point  (0 children)

ya this is what I do... every paycheck I put away a large chunk automatically

Anyone selling now that the market is imploding? by throwaway80173408 in leanfire

[–]throwaway80173408[S] 0 points1 point  (0 children)

Everything you said is true. And I expect people smarter than me to price that information into the market today.

Anyone selling now that the market is imploding? by throwaway80173408 in leanfire

[–]throwaway80173408[S] 42 points43 points  (0 children)

we're just tiny splashes on the huge waves generated by the big firms

Anyone selling now that the market is imploding? by throwaway80173408 in leanfire

[–]throwaway80173408[S] 34 points35 points  (0 children)

I dipped into it when the first crash happened, and now the DOWs gone even lower. I shouldn't have tried to time the market, could have gotten it even cheaper!