Comments on: The Great Rent vs. Own Debate http://raincityguide.com/2007/03/14/the-great-rent-vs-own-debate/ Seattle's Leading Resource for Real Estate Information Sat, 21 Nov 2009 06:01:18 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Rhonda Porter http://raincityguide.com/2007/03/14/the-great-rent-vs-own-debate/#comment-196695 Rhonda Porter Sat, 20 Oct 2007 18:39:29 +0000 http://raincityguide.com/2007/03/14/the-great-rent-vs-own-debate/#comment-196695 It's speculation based on 5 and 10 years on property in Seattle. We won't know for several YEARS. <a href="http://seattlebubble.com/blog/2007/03/21/rent-vs-purchase-a-comparison/" rel="nofollow">Seattle Bubble did a rebuttle on their site</a>. Since this post is older, I'm going to close it to future comments with the intent of doing a new post to revisit the numbers next March. It’s speculation based on 5 and 10 years on property in Seattle. We won’t know for several YEARS. Seattle Bubble did a rebuttle on their site.

Since this post is older, I’m going to close it to future comments with the intent of doing a new post to revisit the numbers next March.

]]> By: Damien http://raincityguide.com/2007/03/14/the-great-rent-vs-own-debate/#comment-196692 Damien Sat, 20 Oct 2007 18:32:36 +0000 http://raincityguide.com/2007/03/14/the-great-rent-vs-own-debate/#comment-196692 That was 7 months ago?! So you finally admit your analysis was flawed? That was 7 months ago?! So you finally admit your analysis was flawed?

]]> By: Rhonda Porter http://raincityguide.com/2007/03/14/the-great-rent-vs-own-debate/#comment-196690 Rhonda Porter Sat, 20 Oct 2007 18:27:23 +0000 http://raincityguide.com/2007/03/14/the-great-rent-vs-own-debate/#comment-196690 This post was done back in March. I'll have to revisit it next Spring to do a comparison. This post was done back in March. I’ll have to revisit it next Spring to do a comparison.

]]> By: Damien http://raincityguide.com/2007/03/14/the-great-rent-vs-own-debate/#comment-196689 Damien Sat, 20 Oct 2007 18:25:01 +0000 http://raincityguide.com/2007/03/14/the-great-rent-vs-own-debate/#comment-196689 This spring will be very interesting. Inventory high, nation wide house prices are going down, even in Seattle. I bought a home last year and it's value has gone down 60,000 :( I'll never listen to a real estate agent and should have listened to the economists. I should have waited till now with a larger down payment. This spring will be very interesting. Inventory high, nation wide house prices are going down, even in Seattle. I bought a home last year and it’s value has gone down 60,000 :( I’ll never listen to a real estate agent and should have listened to the economists. I should have waited till now with a larger down payment.

]]> By: Jalarmo http://raincityguide.com/2007/03/14/the-great-rent-vs-own-debate/#comment-196386 Jalarmo Sat, 20 Oct 2007 04:55:52 +0000 http://raincityguide.com/2007/03/14/the-great-rent-vs-own-debate/#comment-196386 ps http://www.realestatejournal.com/buysell/tactics/20070313-crook.html http://www.fool.com/personal-finance/home/2007/05/18/the-worst-investment-ever.aspx http://www.smartmoney.com/home/living/index.cfm?story=rent http://money.cnn.com/galleries/2007/real_estate/0704/gallery.stocks_v_realestate.moneymag/index.html http://pricedoutforever.com/more-rent-vs-purch.html http://www.getrichslowly.org/blog/2007/07/16/renting-vs-buying-the-realities-of-home-buying/ http://www.consumerismcommentary.com/2007/03/15/the-cost-of-buying-a-home-over-30-years/ http://www.nytimes.com/2007/04/11/realestate/11leonhardt.html It's fine to own a house: just don't think of it as an investment vehicle. Housing costs you money: renting a house costs money and renting hundreds of thousands of dollars from the bank costs money. Don't let yourself believe that you have found the magic bullet that will allow you to live somewhere without paying for it. No matter what a mortgage salesperson tells you. If it seems too good to be true, it probably is! ps

http://www.realestatejournal.com/buysell/tactics/20070313-crook.html
http://www.fool.com/personal-finance/home/2007/05/18/the-worst-investment-ever.aspx
http://www.smartmoney.com/home/living/index.cfm?story=rent
http://money.cnn.com/galleries/2007/real_estate/0704/gallery.stocks_v_realestate.moneymag/index.html
http://pricedoutforever.com/more-rent-vs-purch.html
http://www.getrichslowly.org/blog/2007/07/16/renting-vs-buying-the-realities-of-home-buying/
http://www.consumerismcommentary.com/2007/03/15/the-cost-of-buying-a-home-over-30-years/
http://www.nytimes.com/2007/04/11/realestate/11leonhardt.html

It’s fine to own a house: just don’t think of it as an investment vehicle. Housing costs you money: renting a house costs money and renting hundreds of thousands of dollars from the bank costs money. Don’t let yourself believe that you have found the magic bullet that will allow you to live somewhere without paying for it. No matter what a mortgage salesperson tells you.

If it seems too good to be true, it probably is!

]]> By: Jalarmo http://raincityguide.com/2007/03/14/the-great-rent-vs-own-debate/#comment-196381 Jalarmo Sat, 20 Oct 2007 04:50:20 +0000 http://raincityguide.com/2007/03/14/the-great-rent-vs-own-debate/#comment-196381 "I fully expect all of the number-crunching-junkies out there to have a heyday with what I’m about to post…but here goes!" Yes. The example works as long as you don't crunch the numbers. Other than the numbers, excellent post! “I fully expect all of the number-crunching-junkies out there to have a heyday with what I’m about to post…but here goes!”

Yes. The example works as long as you don’t crunch the numbers.

Other than the numbers, excellent post!

]]> By: Rhonda Porter http://raincityguide.com/2007/03/14/the-great-rent-vs-own-debate/#comment-137544 Rhonda Porter Sun, 20 May 2007 02:51:22 +0000 http://raincityguide.com/2007/03/14/the-great-rent-vs-own-debate/#comment-137544 Gavin, where are you getting your stats? Gavin, where are you getting your stats?

]]> By: Gavin http://raincityguide.com/2007/03/14/the-great-rent-vs-own-debate/#comment-137538 Gavin Sun, 20 May 2007 02:34:13 +0000 http://raincityguide.com/2007/03/14/the-great-rent-vs-own-debate/#comment-137538 Sales in Seattle are all down. Condos are all unsold for over 100 days. Prices have nowhere to go but down. If you don't know who the suckers are, odds are you are one of them: those who paid higher than average last month. Sales in Seattle are all down. Condos are all unsold for over 100 days. Prices have nowhere to go but down. If you don’t know who the suckers are, odds are you are one of them: those who paid higher than average last month.

]]> By: Matt http://raincityguide.com/2007/03/14/the-great-rent-vs-own-debate/#comment-133821 Matt Fri, 11 May 2007 16:42:11 +0000 http://raincityguide.com/2007/03/14/the-great-rent-vs-own-debate/#comment-133821 Bursting Bubble. My "type" of thinking doesn't quite compare to what, I think, you are insinuating. I truely don't give a damn how much my house is worth. I do not take out seconds to fund a consumer lifestyle. I put 20% down last year to get into a jumbo loan at 5.75% fixed for 30 years. I take for granted that I will move away before my 30 years is up, but perhaps not. My parents are in their "starter home" in Irvine, California since 1971. They pledged that they will return home to Hermosa Beach after 5 years. Guess not. They never cared how much their house was worth (over 1mil now) cause they never intend to leave Califoinia since the Real Estate prices are relative. One piece of helpful information to new homebuyers: Fannie Mae offers a 100% 40 Year Fixed Rate mortgage with a 10 year interest only option. If I were to buy now and I had little money, I would go with this. The reason: FULL DOC. Fannie Mae would never lend out to somebody who cannot afford it when they go full documentation. I am not a real estate agent pushing homes in a down market. It just makes sense to me. Bursting Bubble. My “type” of thinking doesn’t quite compare to what, I think, you are insinuating. I truely don’t give a damn how much my house is worth. I do not take out seconds to fund a consumer lifestyle. I put 20% down last year to get into a jumbo loan at 5.75% fixed for 30 years. I take for granted that I will move away before my 30 years is up, but perhaps not. My parents are in their “starter home” in Irvine, California since 1971. They pledged that they will return home to Hermosa Beach after 5 years. Guess not. They never cared how much their house was worth (over 1mil now) cause they never intend to leave Califoinia since the Real Estate prices are relative. One piece of helpful information to new homebuyers: Fannie Mae offers a 100% 40 Year Fixed Rate mortgage with a 10 year interest only option. If I were to buy now and I had little money, I would go with this. The reason: FULL DOC. Fannie Mae would never lend out to somebody who cannot afford it when they go full documentation. I am not a real estate agent pushing homes in a down market. It just makes sense to me.

]]> By: Rhonda Porter http://raincityguide.com/2007/03/14/the-great-rent-vs-own-debate/#comment-126724 Rhonda Porter Fri, 20 Apr 2007 16:28:02 +0000 http://raincityguide.com/2007/03/14/the-great-rent-vs-own-debate/#comment-126724 Javier, I'm sorry to hear that. Do you know why can't he refinance if his income is good? Javier, I’m sorry to hear that. Do you know why can’t he refinance if his income is good?

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