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SVTPerformance's Chain of Restaurants
Road Side Pub
Renting vs owning a home and vehicles.
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<blockquote data-quote="Blown 89" data-source="post: 15696239" data-attributes="member: 45161"><p>I came out smelling like roses with a ton of cash in the bank ready to buy a house when the market crashed. Not because I'm a magical wizard but because I'm not a moron. A house that cost $100k a few years ago that all the sudden cost $1mil should raise a few concerns about buying. Taking emotions out of the inspection process, looking at community tends, planning well in advance for a purchase, living/buying within your means....these are all things you can do to virtually eliminate catastrophic risks. It's not rocket science but looking at the idiotic decisions some people make you'd think it is. </p><p></p><p>Everyone I know that was dumb enough to buy in the bubble simply up and walked away from their homes. There wasn't any catastrophic financial repercussions other than an inconvenience of poor credit for a few years. Most used it to improve their situations. </p><p></p><p>In the end I used the money I saved preparing for the bubble to burst to buy a business and invest in another. I should thank everyone that crashed the economy. </p><p></p><p>The bottom line is that nobody is losing money renting to you other than the person renting. If the housing market is reasonable at the time that right there should be a sign you're making poor financial choices. Where do all of you renters plan on living when you retire?</p></blockquote><p></p>
[QUOTE="Blown 89, post: 15696239, member: 45161"] I came out smelling like roses with a ton of cash in the bank ready to buy a house when the market crashed. Not because I'm a magical wizard but because I'm not a moron. A house that cost $100k a few years ago that all the sudden cost $1mil should raise a few concerns about buying. Taking emotions out of the inspection process, looking at community tends, planning well in advance for a purchase, living/buying within your means....these are all things you can do to virtually eliminate catastrophic risks. It's not rocket science but looking at the idiotic decisions some people make you'd think it is. Everyone I know that was dumb enough to buy in the bubble simply up and walked away from their homes. There wasn't any catastrophic financial repercussions other than an inconvenience of poor credit for a few years. Most used it to improve their situations. In the end I used the money I saved preparing for the bubble to burst to buy a business and invest in another. I should thank everyone that crashed the economy. The bottom line is that nobody is losing money renting to you other than the person renting. If the housing market is reasonable at the time that right there should be a sign you're making poor financial choices. Where do all of you renters plan on living when you retire? [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Renting vs owning a home and vehicles.
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