Posted on 04/29/2014 8:01:11 AM PDT by Nachum
Part of my “Economic SHTF Plan” is in case of a slow decline, I shall help house several of my more “reliable friends” and use their rent to help pay for my mortage incase I am unemployed/downsized/furloughed...
I was looking for an apartment in LA and finding that basic one-bedrooms were going for $1,200 to $1,600 a month.
None of these stats matter. Like my wife said, when you like all of the time you sometimes forget what you’ve said and every now and then the truth slips out. The government is constantly lying about the economy, housing, unemployment, etc. One day HOME SALES ARE UP! and the next day HOME OWNERSHIP IS DOWN! So, do we really know?
Didn’t you know that Bill Clinton turned Arkansas into a wealthy state the year he ran for president? /s
It's going to get worse too.
Well, as someone who has lived in both apartments and houses, I find living in a single family detached vastly superior to living in an apartment building.
You can always rent a house too. But I prefer owning my own property, being my own landlord, and leaving something behind when I’m gone for my child.
That’s our plan, too. We have two farms between us and could easily rent out the one that’s nearly paid for to pay for the other when TSHTF.
we ought to say - so what???
increased home ownership has NOT been part of greater savings and a greater level of savings and equity over debt; quite the opposite has happened, personal debt, in mortgages and otherwise has outstripped savings and “equity” held by Americans, while the financial industries have become mega income earners in the economy
many people are not well positioned financially for home ownership except to get into a home they cannot afford the upkeep and maintenance on as they manage to keep up with mortgage payments, but not much else of their home’s needs
many people are better off financially renting a place that is not an ideal size but has a rent rate that leaves a very nice cushion for their expenses
the biggest development that has gone along with increased home ownership after WWII was an increase in how many people have over-extended themselves financially, just to be a “home owner”
Total agreement. I own my home, no mortgage. But yet, miss a property tax payment and watch what happens...
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