What are you thinking about?

[ramssuperbowl99]

12 hours ago, Tugboat said:

But the fact remains, the end goal is to ultimately get every aspect of your life on a "subscription fee" because that's more profitable.

It's also more profitable for the renter.

12 hours ago, Tugboat said:

You're making somebody else rich with that, and not just the banks...which also get more rich off of it.  Wanting to be a "renter" in perpetuity is buying in to that, full bore.  Pay money, own nothing.

There are other types of value besides home equity. Re-posting this since apparently we've got a reading comprehension issue.

22 hours ago, ramssuperbowl99 said:

Between principal, interest, taxes, insurance, and HOA fees (if applicable), I'd be looking at around $3k/month for an average mortgage. My rent is half that. Over a 30 year mortgage, if I invest $1500/month savings at 5%, I've got $1.2MM.

 

Renting can actually be win-win.

You're not proving yourself smarter than anyone by alleging some massive corporate conspiracy to keep people poor, you're just demonstrating that you've actually never gone through the logistics of evaluating buying a house.

[ramssuperbowl99]

2 hours ago, MWil23 said:

Okay, I’m going to give a bunch of different “scenarios” here that are legitimately perfectly hypothetical to illustrate my point on housing. Full disclosure I’m not endorsing any particular idea or method but merely illustrating that many of these methods are valid and lead to the same destination after roughly a 30 year period of time.

Lets say that I buy/build my “forever house” and lock into a 15 year mortgage at a 2.25 rate (I did) in December 2020. My last payment will be around the time I’m in my upper 40s with one kid in college and two more likely to go. While maxing out my employer match and my wife doing the same concurrently, we won’t have as much liquidity or availability to do side investments. However, we will have a lot of liquidity to pay for weddings and college expenses in cash with the mortgage payoff.

Let’s say @Tugboat buys a home and flips it because he’s very handy and continues to do the same thing for 15 years until he buys his forever home in cash. He’s basically going to be where I am during the same time while taking an alternate route.

Let’s say @ET80 decides to be more risky and consistently utilizes HELOC and cash out refinancing on his home essentially using it as a giant low interest rate credit card, while using the credit to purchase other houses, start a business, or something else that will get him long term success. After 30 years, he can sell his home, clear his debt, pocket the cash, and move where he wants.

Let’s say that @ramssuperbowl99 never buys a home but aggressively maxes out his Roth, employer match, and utilizes his HSA hacks. He has zero worries about fixing anything for 30 years or having to invest in things like tools or yard equipment. At 50-55, he’s flush with cash having played the long compound interest game, and can probably buy a home in cash if he wants, or continue to rent a reasonable place having set aside money to do so each month with the interest paying for those things instead of his principal investment.

There are even 2-3 more legitimate avenues that I can see people utilizing, such as my brother in law who fixes dumps up and then rents them (flip to rent) and will have a nice cache of quality rental properties to bring in monthly income for him, or he can give a house to each of his kids come adulthood.

It's an individualized thing that should come out of what life you want and skills you have.

If I had kids in my late 20's, I'd do it completely differently and would have a home. Even without the public education value side of it, kids need stability and the version of my life where I have kids means my number 1 priority is managing their future.

If I had an incredible idea for a business, 100% I'd use every line of equity I could. There's no fund or general market or even local housing market that could compare to the return on 100% equity in my home run small business. Homes are a decent way to expand access to credit, so that also makes sense.

If I had experience fixing homes, I'd be much more willing to get into flipping, either to rent or to sell.

Since none of those situations apply to me, I can afford to stall until I've got enough wealth that buying a house feels cheap.

[MWil23]

1 hour ago, ramssuperbowl99 said:

It's also more profitable for the renter.

There are other types of value besides home equity. Re-posting this since apparently we've got a reading comprehension issue.

 

Renting can actually be win-win.

You're not proving yourself smarter than anyone by alleging some massive corporate conspiracy to keep people poor, you're just demonstrating that you've actually never gone through the logistics of evaluating buying a house.

I think “where” you live also matters in the conversation. My monthly all in including escrow is $2200 a month, but I have a 15 year mortgage. If it was 30, it would be closer to $1500-1600 a month, whereas to rent a house here it would be about $2K a month.

Also, at another time I’ll rant about the sheer stupidity of HOAs and how they’re at best an overreach and at worst super discriminatory.

[MWil23]

2 minutes ago, ramssuperbowl99 said:

It's an individualized thing that should come out of what life you want and skills you have.

If I had kids in my late 20's, I'd do it completely differently and would have a home. Even without the public education value side of it, kids need stability and the version of my life where I have kids means my number 1 priority is managing their future.

If I had an incredible idea for a business, 100% I'd use every line of equity I could. There's no fund or general market or even local housing market that could compare to the return on 100% equity in my home run small business. Homes are a decent way to expand access to credit, so that also makes sense.

If I had experience fixing homes, I'd be much more willing to get into flipping, either to rent or to sell.

Since none of those situations apply to me, I can afford to stall until I've got enough wealth that buying a house feels cheap.

Even then, you can do what my buddy’s in laws did, and just buy a house with cash at 60, drawing from your retirement portfolio and utilizing some tax beneficial “loopholes” that primary residence allows. 

Or, let’s say that you have a 401K and perhaps even a pension to go with SSA. Your SSA covers rent each month and the other stuff covers your cost of living.

I have basic skills and have elected to gradually add value to my house over time as well, as even though I’m not moving, I still look at my house as any stock option that can be rented or sold at any given time, while understanding that I “control” the means of selling high or adding value (not doing projects when lumber was at 480%).

Truthfully, if all my kids move away, I’ll probably sell and downsize, pocketing a LOT in cash while paying for that downsize in cash. If they stay close, I’ll keep it and then when it’s “too much” for me when I’m old, I’ll hire someone to do yard work and such.

I also had to balance where I work, my wife works, size of house for all of us, school district, cost of living, basic wants and needs, etc.

When the kids move out and we retire, really then it’s only cost of living and maybe hosting family or not.

[Heimdallr]

Are there any truly great rock bands that are in their prime right now? 

I saw Imagine Dragons on Saturday and it was a great show, but still doesn't compare to the Stones or Springsteen or Dylan, even when they were in their 60's-70's. 

[TVScout]

15 hours ago, Tugboat said:

Nobody ....

That is a absolute word as in

not

one

single 

person.

I proved that wrong by posting a link that shows otherwise.

[MWil23]

Imagine willfully ignoring hyperbole to cherry pick and condescend while simultaneously appearing to take the intellectual higher ground.

[MikeT14]

2 hours ago, Heimdallr said:

Are there any truly great rock bands that are in their prime right now? 

I saw Imagine Dragons on Saturday and it was a great show, but still doesn't compare to the Stones or Springsteen or Dylan, even when they were in their 60's-70's. 

Apparently Metallica still puts on a heck of a show. Prime is questionable, but still!

I've seen a decent number of rock shows at smaller venues, and the bands do well, but the big arena shows have passed me for now. 

[MKnight82]

2 hours ago, MikeT14 said:

Apparently Metallica still puts on a heck of a show. Prime is questionable, but still!

I've seen a decent number of rock shows at smaller venues, and the bands do well, but the big arena shows have passed me for now. 

Foo Fighters? 

[MikeT14]

4 minutes ago, MKnight82 said:

Foo Fighters? 

I saw them back in 200...8 I think it was. Great show. 

[ET80]

7 hours ago, MWil23 said:

Imagine willfully ignoring hyperbole to cherry pick and condescend while simultaneously appearing to take the intellectual higher ground.

The ignore function is incredibly valuable in dealing with people like that.

[Forge]

Scallops

[Bowler1215]

On 7/16/2023 at 5:47 AM, Tugboat said:

It is in fact, not better help.

 

Don't do it imo.  Just find a good actual therapist.

 

 

Curious if you don't mind discussing though, why you need a new therapist?  Change of location?  Lack of efficacy in the one you've been seeing?

I'm not using better help, my nephew gave me a list and I picked a couple to see if I liked them or not.  I've been seeing my current one for over a year and there's been little improvement.  I know I won't get or feel better overnight.  I know it takes time.  I feel like I haven't improved much.  I'm also not sure she's a good therapist.  Example: she assigns me homework,  then next session we don't even discuss the homework.  Why assign it then? 

[MWil23]

5 hours ago, MikeT14 said:

5 hours ago, MKnight82 said:

Foo Fighters? 

I saw them back in 200...8 I think it was. Great show. 

Not sure how they are after their drummer past away unfortunately. 

[smetana34]

What's the best wireless router money can buy?