Bakestar wrote:Yeah so I bought in summer 2006 and basically flushed $70,000 down the toilet in the form of lost equity when the market pooped out.

/SHOULD OF RENTED

if youre planning on living there for the long haul it wont be a loss

1 wrote:just applied for a full-year sabbatical.

awesome. how many years do you have to have before you can do that?

The Dude wrote:what will you do

not miss opening day, that's for sure. maybe spend a month in clearwater.

as of right now, i am taking 3 classes in the fall and 3 in the spring. they are all online. i will be finishing my third master's degree.

oh, and takin'care'a'my'keeedz.

however, there's a job in the district that i want that may be opening up this year. they will allow me to rescind my proposal if the need should arise.

my wife has been home on sabbatical all year with our baby. she doesn't want to send him to day care, so i am taking the bullet. she's looking for another (stay at home) job, but if she doesn't go back to her current one, we have to pay back everything she earned this year (half her salary +benefits).

CalvinBall wrote:

1 wrote:just applied for a full-year sabbatical.

awesome. how many years do you have to have before you can do that?

ten years

Doesn't renting end up being equal to a mortgage or even more in most cases? the only thing you're saving is the downpayment, but even that isn't terrible.

Grotewold wrote:

pacino wrote:The numbers you guys are throwing around always blow my mind. Like i'm ever going to be able to afford either a 1200 rent or a 300k home.

Income is only half the battle.

some of us do not make a million dollars, so i'm not sure what your point is. It's all about income.

somehow i was able to support my wife and i on my shitty salary when she was in school in our $1200 apt

how is the new shipment, btw

The Crimson Cyclone wrote:

Bakestar wrote:Yeah so I bought in summer 2006 and basically flushed $70,000 down the toilet in the form of lost equity when the market pooped out.

/SHOULD OF RENTED

if youre planning on living there for the long haul it wont be a loss

But it's a one bedroom so if we ever want to have kids we'll have to find our way out of there.

There is literally no way, withou accruing debt, that i could pay 1200 and utilities and my other bills. You guys are amazing. I concede.

pacino wrote:

Grotewold wrote:

pacino wrote:The numbers you guys are throwing around always blow my mind. Like i'm ever going to be able to afford either a 1200 rent or a 300k home.

Income is only half the battle.

some of us do not make a million dollars, so i'm not sure what your point is. It's all about income.

No, it's not. Saving, investing, and spending are huge factors.

pacino wrote:There is literally no way, withou accruing debt, that i could pay 1200 and utilities and my other bills. You guys are amazing. I concede.

i wish it was still like the 50's where a single person can afford a house and feed a family of 4 on one paycheck.

pacino wrote:There is literally no way, withou accruing debt, that i could pay 1200 and utilities and my other bills. You guys are amazing. I concede.

find a life partner and split the costs

jamiethekiller wrote:

pacino wrote:There is literally no way, withou accruing debt, that i could pay 1200 and utilities and my other bills. You guys are amazing. I concede.

i wish it was still like the 50's where a single person can afford a house and feed a family of 4 on one paycheck.

That's part of my point. A lot of homebuyers are under the illusion that it is.

On rent v. own--it comes down to the ratio of rent to price. The article certainly made more sense say 3 years ago when in many markets home prices were ridiculously high but rents hadn't moved up to match. Also, the article notes that the guy rents an apartment instead of owning a house--so presumably he's giving up square footage and a yard to save money.

Where I live, it's cheaper in most cases to carry a mortgage+tax+insurance than to rent the equivalent property. So unless you're transient (i.e. a student) you should probably buy.

I do think it's something of a mistake to consider a home an "investment". It's a place to live. It doesn't generate income--to the contrary, it costs money.

Bakestar wrote:

The Crimson Cyclone wrote:

Bakestar wrote:Yeah so I bought in summer 2006 and basically flushed $70,000 down the toilet in the form of lost equity when the market pooped out.

/SHOULD OF RENTED

if youre planning on living there for the long haul it wont be a loss

But it's a one bedroom so if we ever want to have kids we'll have to find our way out of there.

Not to mention if you'd bought a year or so later you'd be way ahead

phatj wrote:

Bakestar wrote:

The Crimson Cyclone wrote:

Bakestar wrote:Yeah so I bought in summer 2006 and basically flushed $70,000 down the toilet in the form of lost equity when the market pooped out.

/SHOULD OF RENTED

if youre planning on living there for the long haul it wont be a loss

But it's a one bedroom so if we ever want to have kids we'll have to find our way out of there.

Not to mention if you'd bought a year or so later you'd be way ahead

Thanks for reminding me.

Bakestar wrote:

phatj wrote:

Bakestar wrote:

The Crimson Cyclone wrote:

Bakestar wrote:Yeah so I bought in summer 2006 and basically flushed $70,000 down the toilet in the form of lost equity when the market pooped out.

/SHOULD OF RENTED

if youre planning on living there for the long haul it wont be a loss

But it's a one bedroom so if we ever want to have kids we'll have to find our way out of there.

Not to mention if you'd bought a year or so later you'd be way ahead

Thanks for reminding me.

Sorry, just seemed like the obvious retort to TCC

Bakestar wrote:

The Crimson Cyclone wrote:

Bakestar wrote:Yeah so I bought in summer 2006 and basically flushed $70,000 down the toilet in the form of lost equity when the market pooped out.

/SHOULD OF RENTED

if youre planning on living there for the long haul it wont be a loss

But it's a one bedroom so if we ever want to have kids we'll have to find our way out of there.

A friend of mine bought a small house and then had triplets. They are now short selling cause they have no room anymore.

phdave wrote:

Bakestar wrote:

The Crimson Cyclone wrote:

Bakestar wrote:Yeah so I bought in summer 2006 and basically flushed $70,000 down the toilet in the form of lost equity when the market pooped out.

/SHOULD OF RENTED

if youre planning on living there for the long haul it wont be a loss

But it's a one bedroom so if we ever want to have kids we'll have to find our way out of there.

A friend of mine bought a small house and then had triplets. They are now short selling cause they have no room anymore.

Our next door neighbors have the same style one-bedroom as us and they now have a three year old and a one year old. I don't know how they do it/what their problem is.