Let me get this straight...



February 29, 2012 2:58 pm
The End of Ownership: Why Aren't Young People Buying More Houses?

shorterexcerpts:

katiewashere:

I’ll admit that I have been thinking about buying within the next two years. But reading through the comments on this article, I started thinking about why I even wanted to do that.

And I really have no idea. Investment? Nope. More space for the kids? Nope.

Really? I think the reason is so I can say “hey, I’m single and making it on my own enough to buy a house.” And that definitely should not be the reason for making such a leap.

Many people will say I’m throwing my money away by continuing to rent, but to me it’s the price I pay for absolute freedom to do anything and go anywhere if and when I need to.

I still think I’m better off buying a boat.

I’m at least 80% certain I never want to own an actual house. I hated yardwork as a kid, and I’ve never had the urge to paint any walls in the apartments I’ve rented that would be fine with painting. If I want escrow and tax benefits I’ll buy a nice condo (when I have the money, and feel comfortable committing more than a few years at a time to a city.) And when the actual-house homeowners post status updates about losing another Saturday to cleaning their gutters, I’ll crack open a beer and smile.

I totally agree with Will. I was thinking about this the other day, actually. The thought of committing to decades of mortgage payments for a place that I have to repair and maintain myself sounds like a pain the ass. I refuse to chain myself to a property until I’m in a position in my life where I actually want to settle down and stay in one place.

  1. ladyspankington reblogged this from shorterexcerpts and added:
    I am only buying a house because I’m supposed to. I wish I could rent forever. I’m glad that society is starting to get...
  2. tweetface reblogged this from myvonne and added:
    Still a good way to save for retirement. Mortgage rates can be locked into here for five years. That’s insurance against...
  3. myvonne reblogged this from thesemicullen and added:
    Was just talking to my husband today about owning houses. We have bought and sold a total of 9… each at a hefty profit....
  4. mikeechohotel said: Couldn’t agree more. You know I have an investment property that I rent out, I bought it for a ridiculously low amount so market/financial fluctuation is low impact. But when I’m doing my budget and see that $ figure of my rent/mortgage? It hurts.
  5. thesemicullen reblogged this from jasencomstock and added:
    At this moment, I think that buying was a mistake. However, the market is flooding with renters - to the point that new...
  6. jasencomstock reblogged this from mindbabies and added:
    I own a condo now, and it’s probably the greatest mistake/experience of my life.
  7. mindbabies reblogged this from shorterexcerpts and added:
    I totally agree with Will. I was thinking about this the other day, actually. The thought of committing to decades of...
  8. 94monkeys said: I think the shine is definitely off for our generation. After seeing/reading about people who are “stuck” in houses worth less than purchase price, I’m not ready to commit. And mobility is a huge issue. What if my job sends me somewhere awesome?
  9. shorterexcerpts reblogged this from katiewashere and added:
    I’m at least 80% certain...own an actual house....hated...
  10. katiewashere posted this