the tyranny of rent

[user 423]

Yeah but who ever wants to admit they made bad choices? LOL

Also, vans or RVs can be very expensive to maintain and aren't necessarily an easy way to reduce your living costs.

 

[bullfrog]

You don’t change your spending habits by just moving into a van but a lack of space is a deterrent to buying stuff you don’t have room for! Lol!!!

 

[Freelander]

Yeah but who ever wants to admit they made bad choices? LOL

Also, vans or RVs can be very expensive to maintain and aren't necessarily an easy way to reduce your living costs.

I can buy an RV for the faction of the cost of a house, and if you rent all you have when you are finished is a handful of receipts, whereas when an RV you will own it when you finish the payments.

 

[treesprite]

Rent where I live is very high. The entire region has been gradually tearing down all of the affordable housing to build luxury highrises that incorporate lower level shopping centers and parking garages. The rents in all of these new buildings are at least $500 more a month than in the buildings being torn down. These are developments planned out by government community planning commissions, who are in bed with private developers - that isn't capitalism, it's oppression. Capitalism would be something like when the 50-something year old building I used to live in, jacked rents to match the rents of the new building down the street - the old building is run down and pest infested, but people are willing to pay the higher rent to be in the same neighborhood as their friends.

 

[lab_nomad]

So you don't like housework and you don't like yard work, but you buy a house anyway that you can't really afford? I don't quite understand your frustrations. Seems like your choices need to be scrutinized more thoroughly.

Well, this thread started out as a rant about how nobody cares about the high cost of housing and how that might affect someone's ability to save money, but they will happily start getting personal and criticizing the individual. And what happened? People started criticizing me without knowing anything about me.

First of all, when I said I can't afford the house, I meant it in a bigger picture way. I actually divided my mortgage payment by my salary and it's about 30%. I just don't like the large chunk of money it takes from me every month, especially when I already get reamed by Uncle Sam since I don't have dependents to claim.

I just don't like home ownership, and so therefore, I'm planning on selling the house. Since I travel for work, I don't really need a house or a rental, b/c I can be in the van in between jobs. On the job I get temporary housing while I'm working.

 

[gsfish]

Curious as to what the OP would consider a reasonable rent for a 3/2 house in a safe working class neighborhood.

Guy

 

[treesprite]

Well, this thread started out as a rant about how nobody cares about the high cost of housing and how that might affect someone's ability to save money, but they will happily start getting personal and criticizing the individual. And what happened? People started criticizing me without knowing anything about me.

First of all, when I said I can't afford the house, I meant it in a bigger picture way. I actually divided my mortgage payment by my salary and it's about 30%. I just don't like the large chunk of money it takes from me every month, especially when I already get reamed by Uncle Sam since I don't have dependents to claim.

I just don't like home ownership, and so therefore, I'm planning on selling the house. Since I travel for work, I don't really need a house or a rental, b/c I can be in the van in between jobs. On the job I get temporary housing while I'm working.

I understand what you're saying. Home ownership costs a lot more than just the cost of the mortgage. Who expects a $300 a month electric bill for one person? The cost of a lawnmower, the cost of lawn care if you can't do it yourself - don't keep up with that grass or shovel the public sidewalk in front of your house, and you will be in violation of codes and possibly then have the cost of fines. The cost of repairs to the house - my guess is that a great number of people don't expect to have a leak in the roof that costs thousands of dollars to repair, or leaking  cracks in the foundation because no one told them the house is built on a water table, or maybe a pipe owned by the city breaks under your house which causes the house to be.condemned until you spend thousands of dollars to fix the damage to the house (which you can't even do until the pipe that isn't yours is fixed). There are also security concerns and costs depending on where you live. You can't just up and leave when you have nasty neighbors. There are tons of expenses associated with owning a house and property within a typical residential neighborhood, and not all of those costs are financial.

 

[treesprite]

Curious as to what the OP would consider a reasonable rent for a 3/2 house in a safe working class neighborhood.

Guy

It is dependent on the area. Where I live, about $3000 if it's an older small house. Three hours away, $1500 for the same type of house.

 

[Freelander]

Also do you ever really own your home??

What happens is you don't pay the taxes?

What happens when the city/state decides to built that new Freeway where your house sits?

What happens when you build something on your property that violates City code?

The Government allows us use of the property at their pleasure.

 

[Freelander]

It is dependent on the area. Where I live, about $3000 if it's an older small house. Three hours away, $1500 for the same type of house.

My house were it in a larger city would be 2 to 3 times what is is worth.

And then when your neighbors all around you decide to fancy up there houses, it raises the value of your, and the taxes to go alone with it.

 

[WanderingRose]

Well, this thread started out as a rant about how nobody cares about the high cost of housing and how that might affect someone's ability to save money, but they will happily start getting personal and criticizing the individual. And what happened? People started criticizing me without knowing anything about me.

I don’t see anyone criticizing you, but responding to what you have posted.

That’s what happens when you post a rant on a public forum.   :shy:

The bottom line, as my mother would say, is “don’t bite off more than you can chew”.  

Housing costs vary, depending on what you must have.

 

[66788]

I'm in a nice RV park with grassy areas and 60-80 foot trees in Southern Oregon.  I pay $320.00 per month and I get my motorhome space plus adjacent parking for 2 additional vehicles, water, sewer, trash, wifi and electricity.

I came here in Feb of 2020 to wait out this Covid BS, but find that this situation is ideal for me, as I spend almost that much on the road and don't have all the annoying water, trash, dump and mechanical breakdown issues associated with the mobile lifestyle.

 

[66788]

Also do you ever really own your home??

What happens is you don't pay the taxes?

What happens when the city/state decides to built that new Freeway where your house sits?

What happens when you build something on your property that violates City code?

The Government allows us use of the property at their pleasure.

Home ownership is rental with the right of resale.  You are correct in your post and for all those reasons I will never buy real property.

Rules to live by:

If you can't pay cash, you can't afford it.

and;

If you can't feed 'em, don't breed 'em.

 

[bullfrog]

I sold a house I could no longer afford to own and live in almost 20 years ago. I purchased an almost 20 year older motor home to live in which much of the year we still live in. Something many of you are not realizing is a big part of the old American dream is something called equity which if managed properly and big finance as in banks don’t destroy the market is sort of a forced savings account. One of today’s biggest disparity problems is many Americans pursuing the dream were targeted to succeed while other groups were segregated out of wealth producing housing areas and destined to fail. For many years it was possible to buy a house, maintain it and after several years sell it while making a living wage to someone else that was just starting out to do the same thing. The costs of housing have risen while the wages have stayed the same or now during Covid 19 gone away. So for the majority of people this strategy just won’t work. Many people can’t pull it off because they don’t make enough money for life’s necessities never the less a mortgage. Now that interest rates are so low there are few houses that are not way over priced and people with enough money are buying and renting them which makes rent even higher. Over the last 20 years living in my motor home has cost me probably a third of what it cost to live in a house either owned or rented. I have saved money because I work at it but unlike a home owner I have no equity and if you rent and pay so much of your income to do so you cannot put a large amount in savings you need to change your strategy. Some where along the way an emergency will come up like Covid 19 and bankrupt you. Cheap RV living my be a way for you to not only survive but thrive if you learn how to live simple and save. It has worked for us so far.

 

[WanderingRose]

And, you know, lab, at some point you wanted a house with all of its associated responsibilities and expenses.

Now, you have learned that this is not for you.

Thats a good thing.

 

[SLB_SA]

This article Primary home vs investment property vs S&P 500 is interesting.  I have often read that renting and investing in an index fund builds wealth while owning and living in a house decreases wealth.  Being a nomad would simply amplify this wealth effect and let you see the world.

 

[Freelander]

I'm to the point where I no longer want to fix the house. I need to redo the bathroom, I have some rot along my front window, the whole house needs to be replumbed, I'm tied of mowing the grass, and I'm really tired of the weed eater.

After I get a view trips under my belt I will probably sell out and be done with it.

Owning your on home is nice, but I'm getting to old and worn out to maintain it I need too.

 

[lab_nomad]

And, you know, lab, at some point you wanted a house with all of its associated responsibilities and expenses.

Now, you have learned that this is not for you.

Thats a good thing.

Well, I wouldn't say i wanted the associated responsibilities and expenses.    It was more like I thought it would give me security, b/c that's the current societal message. And it is way easier to own a house when there are two people b/c you have two incomes and you can split the chores. 

Even though I work in healthcare and did not lose my job due to Covid, I think the pandemic is highlighting for everyone that we don't really have true security. Life can deal blows at any moment. 

I'm intrigued enough with vandwelling, and my current situation of traveling around for work lends itself well to that, and the bonus is I won't have to pay rent/mortgage.

 

[lab_nomad]

I'm to the point where I no longer want to fix the house. I need to redo the bathroom, I have some rot along my front window, the whole house needs to be replumbed, I'm tied of mowing the grass, and I'm really tired of the weed eater.

After I get a view trips under my belt I will probably sell out and be done with it.

Owning your on home is nice, but I'm getting to old and worn out to maintain it I need too.

Amen to that! I read in some of Bob's writings that compared to farming with the dawn of agriculture, hunter-gatherers had an easier life. I really feel like life shouldn't be constant toil. 

What type of rig will you be traveling in?

 

[lab_nomad]

This article Primary home vs investment property vs S&P 500 is interesting.  I have often read that renting and investing in an index fund builds wealth while owning and living in a house decreases wealth.  Being a nomad would simply amplify this wealth effect and let you see the world.

I like that website. I found this quote on another page: "Renting doesn’t represent a failure of some sort. And owning doesn’t mean you’ve won. The rules are fake."‎