keeps raising the rent...And since rental expenses are after tax dollars that I can't write off, it's really hard to save enough to ever buy a home.. even if home prices did drop....What should I do???
13 replies (most recent on top)
You could move back to your Mommy's basement. Stock up on Ramen noodles. Save your money and waiting for the housing downturn that will never come.
this is not the unvestments mailing list dude. over there people ask dumb questions like this. even seen questions like "should i pay $10000 to the guy in nigeria willing to sell me a 2014 bmw"
@Anonymous141606 this is pure gold
Anonymous141693 if you have to ask, you aren't ready to buy.
what's the best place to buy a 700K crapshack in hopes it turns into a 1.4M crapshack? Poway? Escondido?
Alternatively, buy a house in foreclosure in an area with potential, and apply for a 203k loan that will fund the improvements necessary to fix it up. Owning a home will give you more tax deductions that may enable you to save more. Live in it a few years, then flip it when the prices increase enough for you to pull out more cash.
Anonymous141611, success = luck + effort. Sorry you didn't have either. With your post, you sound pretty bitter about it...hahaha
Anonymous141647, I find these clowns entertaining because they have always been priced out of the market.... And they call me bitter? Lol.
Hahaha, what a classic post. @ Anonymous141606 - what a way to shut up that single guy who keeps predicting the end of the world and pushing real estate topics. Shut the F up and keep renting. The prices will never go beck to 1970s levels, you know the time when a house in CV was about $50K. The prices will never go back to 1980s levels. 1990s levels. 2000s levels. 2010 levels. It will never happen, that ship has sailed and you keep waiting for your correction while living your miserable renter's life.
Just keep renting because rents are driven by income only. The only reason prices are this high is because of artificial stimulus. When the real economy catches up (can only load up on cheap credit for so long on fixed wages) because of all the purchases that were simply pulled forward, there will be a large price correction.
You are stupid illiterate why did you post here, it is not a place to post
correction: hi bitterlandlord who won the QC stock option lottery on sheer luck
hi bitter landlord