Flytrap #2 - Possible NSFW Content and WAW fail , Whiskey Bacon and tamale hootch

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APRIL

Feel Free to Pee on Me
Sep 30, 2004
103,183
37,865
1,823
Houston
Im glad we aren't throwing away money at rent. At least we have something to show for it.
 

Sarcasmo

A Taste Of Honey Fluff Boy
Mar 28, 2005
34,396
464
648
43
Austin
What do you have to show for it, exactly? Any money you manage to make if you eventually sell will go right back into yet another house purchase. So basically you have walls and a roof, which is the same thing I have to show for my rent money.
 

Duke

. . first name's "Daisy" boys
May 12, 2008
55,859
18,143
41
Brandon, FL
What do you have to show for it, exactly? Any money you manage to make if you eventually sell will go right back into yet another house purchase. So basically you have walls and a roof, which is the same thing I have to show for my rent money.

They have equity. That's a pretty big deal.
 

Sarcasmo

A Taste Of Honey Fluff Boy
Mar 28, 2005
34,396
464
648
43
Austin
I'm just being the devil's advocate.

Home equity is really just industry code for "the potential to have shitloads more debt."
 

APRIL

Feel Free to Pee on Me
Sep 30, 2004
103,183
37,865
1,823
Houston
What do you have to show for it, exactly? Any money you manage to make if you eventually sell will go right back into yet another house purchase. So basically you have walls and a roof, which is the same thing I have to show for my rent money.

We have the possibility to earn the money back and that's fat chance in renting. Plus its ours to do what we want with it barring any HOA and city restrictions. (Ugh)
 

zengirl

If I had a dollar might give ya 99
Oct 15, 2004
10,255
20
41
It depends on where you are. We bought a house in a new subdivision right as things started to go bad, we thought we got a good deal but now we have 20something foreclosures plus 9 abandoned properties in our subdivision, houses are short selling for 120k less than what we paid. Nobody is selling a house in our area for years now, the developer packed up and stopped building. So we have the tax write off, that's a good thing, but theres no way we'd be able to sell in the foreseeable future.
 

Josh

Biff Clurton
Oct 9, 2006
7,333
3,671
273
East bumfuck.
How about this thought: Say you are renting, but the landlord is behind in mortgage payments and the place you rent gets foreclosed on. Wouldn't that suck ass, getting kicked out, having to find a new place to live, maybe even losing your deposit if the landlord has no money? I hear it is becoming more common in this economy. So if you own a home, condo, etc, you hold the mortgage and know it is paid up-to-date or not.
 

APRIL

Feel Free to Pee on Me
Sep 30, 2004
103,183
37,865
1,823
Houston
How about this thought: Say you are renting, but the landlord is behind in mortgage payments and the place you rent gets foreclosed on. Wouldn't that suck ass, getting kicked out, having to find a new place to live, maybe even losing your deposit if the landlord has no money? I hear it is becoming more common in this economy. So if you own a home, condo, etc, you hold the mortgage and know it is paid up-to-date or not.

This has been extremely popular in florida.
 

Duke

. . first name's "Daisy" boys
May 12, 2008
55,859
18,143
41
Brandon, FL
How about this thought: Say you are renting, but the landlord is behind in mortgage payments and the place you rent gets foreclosed on. Wouldn't that suck ass, getting kicked out, having to find a new place to live, maybe even losing your deposit if the landlord has no money? I hear it is becoming more common in this economy. So if you own a home, condo, etc, you hold the mortgage and know it is paid up-to-date or not.

Word. Place before this, I was renting it. It was caught up in the 'condo conversion' craze that was going crazy before the pop. Almost every apartment community was looking to convert out into a condo or something. Place I was in sold like 1/3 of their units, so it was a mixed community of apartments and condos. One developer bought like 40 units. One day, I hear a hard knock on the door next to mine. I go to my door, and can hear the process server telling the occupant that her place was being forclosed on and she had 30 days to vacate. She had been paying rent all along, but the developer was just pocketing the cash. So this lady and her 3 kids were kicked to the curb, paying money into some fuckers pocket that decided to basically not only default on his mortgage, but, in my mind, defraud the renter out of money she was paying.

It was right about then I got serious about buying.
 
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