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Liberal_Stalwart71

(20,450 posts)

47. Yeah, I work at HUD and am familiar with this program, but even an 80/20 is difficult to come by,

Mon May 6, 2013, 03:48 PM

May 2013

even if one has outstanding credit. My credit is pretty good. I see what you're saying, though. And thanks for the support.

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Across The Country, Renters Are Getting Crushed By Housing Costs [View all] geek tragedy May 2013 OP

Owners of rental houses on the west coast of Florida have been...... NCTraveler May 2013 #1

Families. geek tragedy May 2013 #2

Exactly what is going on. NCTraveler May 2013 #3

Yes, I live there. HooptieWagon May 2013 #30

Overall, privately owned apts, condos, and duplexes have been stagnant. NCTraveler May 2013 #32

"The rent is too damn high!" The campaigner running on this slogan was right!! kelliekat44 May 2013 #40

renting is the absolute smartest way to acquire housing galileoreloaded May 2013 #4

Sure, if you want to be part of the serf class, renting is the surefire way to go. geek tragedy May 2013 #5

10-20 years? have you ever seen job or ownership statistics? galileoreloaded May 2013 #7

I've seen the entire history of rents. geek tragedy May 2013 #9

oy vey, you need a lesson in macro. galileoreloaded May 2013 #11

decisions to buy a house are classic microeconomic decisions. geek tragedy May 2013 #14

lol. all real estate is local right? galileoreloaded May 2013 #20

It sure is local. jeff47 May 2013 #25

Plus, tax deductions. geek tragedy May 2013 #34

The deduction is based on the interest you pay on the property Mosby May 2013 #64

Truly wealthy people don't bother with mortgages at all. geek tragedy May 2013 #65

that's true sometimes but rich people also know how to leverage their assets Mosby May 2013 #66

Mere million dollar home= not terribly rich. geek tragedy May 2013 #70

the bubble wasnt the point it was the trend lol. galileoreloaded May 2013 #39

That chart doesn't prove what you think it proves. geek tragedy May 2013 #31

Seems like they are trying to justify... NCTraveler May 2013 #35

They conflate fluctuations in home price with the cost of home ownership. geek tragedy May 2013 #36

well, when i have some time for a longer teaching moment galileoreloaded May 2013 #38

Ah yes. Everyone just doesn't understand jeff47 May 2013 #41

Perhaps you could explain this statistic: geek tragedy May 2013 #43

you first. galileoreloaded May 2013 #48

Does this mean I should geek tragedy May 2013 #50

actually it tells you to lever up on debt denominated in USD and hold asset out of the country.. galileoreloaded May 2013 #52

it shows me banks are building reserves instead of lending. nt geek tragedy May 2013 #54

its dollar destruction galileoreloaded May 2013 #58

Not always Samantha May 2013 #71

Certainly, in cases such as yours where the landlord only has 1-3 geek tragedy May 2013 #72

Sounds great, if you can get a locked-in rental rate for 30 years or so Orrex May 2013 #6

Ahhh yes, it would be wonderful ellie May 2013 #8

It is very circumstantial, depending on geography, timing in terms of job, family, etc. geek tragedy May 2013 #10

It can only affect your credit for 7 years. jeff47 May 2013 #26

Who the hell can afford to buy and HappyMe May 2013 #12

Depends on the house and the location. We own a condo, so less maintenance. geek tragedy May 2013 #13

You still pay fees to maintain the condo. HappyMe May 2013 #16

A house would be too much money and work for us. geek tragedy May 2013 #18

I guess I'm not in the same HappyMe May 2013 #19

That was an unfortunate choice of words on my part. geek tragedy May 2013 #23

Buying is great if you have a solid job and dont have to move. DCBob May 2013 #15

I would say transaction costs are a bigger problem. geek tragedy May 2013 #17

And that's the main reason I bought when I did shanti May 2013 #33

Well... Freddie Stubbs May 2013 #21

my rent has been stable and VERY reasonable for 15 years.... mike_c May 2013 #22

He's probably very happy to have a good tenant. geek tragedy May 2013 #24

Opposite for me madville May 2013 #67

I earn a pretty good salary but face a dilemma: housing prices are too high in this Liberal_Stalwart71 May 2013 #27

We had to save years and years and years to come up with our 10% down payment. geek tragedy May 2013 #37

Yeah. I'm single and therefore the only income earner. So yes, that's been the name of the game. Liberal_Stalwart71 May 2013 #45

I recommend it. Bonus points if you do it before marriage and geek tragedy May 2013 #46

LOL!! Definitely. I'm sure they want nothing less. :) Liberal_Stalwart71 May 2013 #61

If your credit is good enough, you might be able to get an 80/20 jeff47 May 2013 #42

I don't think anyone does piggybacks anymore. geek tragedy May 2013 #44

Yeah, I work at HUD and am familiar with this program, but even an 80/20 is difficult to come by, Liberal_Stalwart71 May 2013 #47

Have you looked at FHA and FHA-eligible buildings in your area? nt geek tragedy May 2013 #51

Yeah. Still a lot of restrictions, but I haven't given up. Thanks so much. I'll keep saving and Liberal_Stalwart71 May 2013 #62

Look up the FHA program called 'Homepath' and find homes at 3.5% down in your area Bluenorthwest May 2013 #56

Thanks for this! I will look into it. :) Liberal_Stalwart71 May 2013 #60

It's not the rents that are the problem, it's the lack of increases in income. JVS May 2013 #28

If we now had someone who kept to his campaign pledges in the WH - truedelphi May 2013 #29

Obama's problem--which is not new to most presidents--is that they make all these claims, Liberal_Stalwart71 May 2013 #49

May I remind you of a President's ability to truedelphi May 2013 #53

Huh? geek tragedy May 2013 #55

No need to remind me of anything. As someone who works for a federal agency, Liberal_Stalwart71 May 2013 #59

Okay what if I concede and stae that the Congess IS INDEED the problem. truedelphi May 2013 #63

It's also bad in military communities where the housing allowance drives up prices as well. alarimer May 2013 #57

I have a rental unit Blue_In_AK May 2013 #68

I don't think I fit in any of these scenarios. freshwest May 2013 #69