John Galt
8/3/2008 11:37:00 AM
"Steve" <stevencanyon@yahooooooo.com> wrote in message
news:aq4b945jgl71peld3ich7oin3uoti2pj9i@4ax.com...
> On Sun, 3 Aug 2008 18:59:41 +0800, "John Galt" <kady101@gmail.com>
> wrote:
>
>>
>>"Steve" <stevencanyon@yahooooooo.com> wrote in message
>>news:3q0b9491c2fsj5rq1qr775c2af24mc0lcq@4ax.com...
>>> On Sat, 02 Aug 2008 19:54:05 -0700, George Grapman
>>> <sfgeorge@paccbell.net> wrote:
>>>
>>>> The company I work for is looking to fill a position and Steve has
>>>>given me great idea. Instead of reading resumes and having interviews I
>>>>simply have to ask one question to qualify applicant-"do you rent or
>>>>own?"
>>>
>>>
>>> Nothing wrong with renting if you're under twenty five and just
>>> getting started or if one has put aside other assets or investments to
>>> cover their future.... beyond that, renting is a sign of immature,
>>> and/or irresponsible behavior...
>>
>>Eh......I think that's overstepping a bit. Buying a house isn't a great
>>investment, in that in most situations, it doesn't appreciate at anywhere
>>near the rate of equities. Further, even in normal times, you can get but
>>S
>>C R E W E D on a home purchase, if something happens and for whatever
>>reason
>>(say, you're 25 and your Dad dies and you need to move back to be close to
>>mom) you have to sell inside of 3 to 5 years.
>>
>>There are plenty of circumstances that a mature, responsible person might
>>prefer to rent, as I see it. However, for MOST, you're right -- it's the
>>only chance they have to build a nest egg.
>>
>>JG
>>
>
> I didn't say that buying a home was the best investment.. but it's a
> hell of lot better "investment" than renting.. which is the
> alternative to not buying a home... IOW, renting is the alternative
> to buying, not buying equities....
>
> ..here's the facts... when you buy a home, you're locking in the
> monthly cost of having a place to live... You may start out paying
> more than if you rented, but more than likely, rents will increase and
> unless you got suckered into a ARM, your mortgage payment will stay
> the same...
We're not disagreeing. My point here is that the number of people who have
the opportunity to live in circumstances that enable them to stay in a house
the requisite five years to payback is not as high as we'd like to think.
Buy a house, sell it in three years.......you're usually better off renting,
financially, especially if you're disciplined enough to invest the money
saved.
JG