Personal Bankruptcies Up 44.8% This Month

[Greenhorn]

So you went straight from living in you Mom's basement to buying a house?
...or mabe even better yet your Mom helped or bought your 1st house for you?
Not everyone can be so lucky.

Exactly. And unless you paid cash, you are renting!!! You are renting the money.

[bestplaceonmeth]

So if I'm making enough money from other non-RE investments, couldn't I claim that someone else is paying my rent? Seems like pretty basic stuff to me.

A perfect example of circular argument .... snake eating its own tail.

You should hire yourself an exterminator, Thompson.

Your place sounds like a shithole.

Ilandslumlord would call it free entertainment but I call it a health hazard.

[kansai_92]

I'd be scared shitless right now if I had bought anything here recently - instead I sleep like a baby.

I'd be scared shitless if i paid someone tens of thousands in rent each year; or better yet paid for my own living space!

That's a narrow-minded blanket statement.
Paying rent versus paying interest to the bank is pretty much equivalent.

On the other hand, I can relate to Meth. Pretty relaxed these days.
I'd like to sleep like a baby but I have newborn to care for.
Prices have been climbing since the spring, and yet many recent owners I know are on edge. Worried about interest rates and job loss.

[Johnny Horton]

On the other hand, I can relate to Meth. Pretty relaxed these days.

Yes, he is awesome.
Relaxed, devil may care... world by the tail.

It won't be a pretty sight when he's old and has to rent.
Increase of rent means he's has to move because he lost all his dough in the stuck market and is only on a small pension.
Small dingy shithole, similar to the one he's got now except this one is 100 miles east of Hope....

[eastside]

On the other hand, I can relate to Meth. Pretty relaxed these days.

Yes, he is awesome.
Relaxed, devil may care... world by the tail.

It won't be a pretty sight when he's old and has to rent.
Increase of rent means he's has to move because he lost all his dough in the stuck market and is only on a small pension.
Small dingy shithole, similar to the one he's got now except this one is 100 miles east of Hope....

Umm I don't think you can assume he even has a pension. I don't think we have actually established that he is actually working, and if he is, he is too embarrassed to admit where he is working. Based on his financial inability to get into this market and the nautical theme of his avatar, my guess that he is a professional "pool boy". In fact I think he served me drinks in the summer when I was at the hotel pool

[metalhead]

The "bear=poor" thing on this board is really boring.

[pianoexcellence]

The "bear=poor" thing on this board is really boring.

fully agreed. it is so predictable too.

I'm not poor. You're not poor. Peter schiff isnt poor.

[islandlandlord]

That's a narrow-minded blanket statement.
Paying rent versus paying interest to the bank is pretty much equivalent..

No its not, its my reality. After owning, i would never go back to renting. You can mitigate every cent of interest; at the very least.

[pianoexcellence]

That's a narrow-minded blanket statement.
Paying rent versus paying interest to the bank is pretty much equivalent..

No its not, its my reality. After owning, i would never go back to renting. You can mitigate every cent of interest; at the very least.

Based on when you bought...which was in a reasonable market....which does no good for people who are deciding whether to buy now.

[islandlandlord]

Based on when you bought...which was in a reasonable market....which does no good for people who are deciding whether to buy now.

Well, to each their own piano. I know what your situation is and it works for you so thats great. I think its about personal choice.

btw, i will be in the market for another rental this spring/summer.

[pianoexcellence]

Based on when you bought...which was in a reasonable market....which does no good for people who are deciding whether to buy now.

Well, to each their own piano. I know what your situation is and it works for you so thats great. I think its about personal choice.

btw, i will be in the market for another rental this spring/summer.

Buy something in Comox or Courtenay. Maybe I'll rent from you down the road.

[Warren12]

The "bear=poor" thing on this board is really boring.

fully agreed. it is so predictable too.

I'm not poor. You're not poor. Peter schiff isnt poor.

On the other hand, "bear = bitter debbie downer" will never get old.

[islandlandlord]

Buy something in Comox or Courtenay. Maybe I'll rent from you down the road.

Thats a little to far north for me. I like to stay on the South end of the island .

[bestplaceonmeth]

On the other hand, I can relate to Meth. Pretty relaxed these days.

Yes, he is awesome.
Relaxed, devil may care... world by the tail.

It won't be a pretty sight when he's old and has to rent.
Increase of rent means he's has to move because he lost all his dough in the stuck market and is only on a small pension.
Small dingy shithole, similar to the one he's got now except this one is 100 miles east of Hope....

More like 500 miles north of Bangkok.

Sweet company pension + 25% cost of living = Freedom 55.

Or earlier depending on my investments.

Fuck this rain, you can have it.

[thirdlittlepig]

On the other hand, I can relate to Meth. Pretty relaxed these days.

Yes, he is awesome.
Relaxed, devil may care... world by the tail.

It won't be a pretty sight when he's old and has to rent.
Increase of rent means he's has to move because he lost all his dough in the stuck market and is only on a small pension.
Small dingy shithole, similar to the one he's got now except this one is 100 miles east of Hope....

With respect to renting vs. owning when he gets old: These are the issues that arose for my elderly dad, and lots more people will be dealing with this in future.
If an elderly person lives long enough they likely will not be able to maintain a home that they own. Even a few stairs become a huge problem, that little walk, to the grocery store is too far, the driver's licence has to be turned in. They can't rent their home out unless someone can manage it and make sure the rent is being paid. People take advantage of an old guy that can't get around to check up, and sometimes even if he's just renting out a lower level. Then there is the hassle of fixing things up for resale, deferred maintainance due to years of gradual disability, the emotional stress of what to do with personal belongings. So the result is many elderly will be renting eventually any way. If they have planned for this possibility they can rent within their means and even get some services to make their life easier, such as assisted living. While the adjustments were difficult for my dad, once accomplished he is much safer and happier. Renting means he can change his living arrangement as his condition changes. He certainly does not have to live in a shit hole, he could chose any type of accomodation he wishes. If he still had to deal with his own home, or selling it in this market (his area is still very much below where it was when he sold), the amount he didn't lose by hanging on to his house has easily paid for his accomodation and more.