AO_hitech
SF Bay Area
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Joined: 08/09/2004
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Supercharged wrote:Any one that can put 20% down should have a home, the rest should live with relatives or live in a apartment and save up the 20%. It is good for a person and the mate to learn how to save.
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Skid Row Joe
On the road in America
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Joined: 04/26/2006
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Supercharged wrote:Any one that can put 20% down should have a home, the rest should live with relatives or live in a apartment and save up the 20%. It is good for a person and the mate to learn how to save. In 1959 my Mom and Dad built an apartment building they borrowed to build. They rented the two-bedroom units for $97.50 a month, with no lease. If the tenants could find a better built, cleaner apartment, Dad said they were free to move. He also told the young couples to save money for their first home, so they could move up for themselves. He stayed at $97.50 a month rent for a few years.
Anybody can get ahead if they have half a brain. Always could get ahead too......nothing's changed but people's greed for credit. Too many "little guys" that can't get ahead are the complainers I've noticed in my short lifetime.
I have a sweet tender nature, however I enjoy sharing my thoughts and opinions. 
Fulltiming RVer & homeowner.
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WTTCS
freedom , U.S.A.
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Joined: 07/28/2003
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When I went to buy my first home in 1964, I had a choice, buy a home I could afford and live comfortable , or buy one I would have to stretch to pay for. I bought the one I could afford. It wasnt the high class neighborhood, just a normal neighborhood. THEN I stupidily bought the toys. I went broke, lost everything , I mean everthing, except my family.
I learned a hard lesson. Took me 12 years to recover, but since then, I dont own nothing that I havent paid cash for. If you are better than that, and you like debt, dont try and make me cry for you, it just wont work.
1997 chev crew cab 454, 5 sp. 4.10
2000 Fleetwood Caribou 11.5
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Supercharged
Az.
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Joined: 01/01/2005
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If you don't put down 20% then it is my 20% that is up along with other tax payers. That would make you a free loader.
2005 Chev 5.3 Supercharged 395HP 425 T hp. Two wheels on front, 2 on back. one seat, tint windows. front and rear bumpers, headlights, windows. Door on each side. Heater, floor mats, junk behind seats, some dirt. Pulls so hard.
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PopBeavers
San Jose, CA
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Joined: 03/19/2005
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Median home price in today's market where I live is 462k. The cheapest house I could find listed was 295k, not in a part of town I would want to live in.
Very few high school grads have enough cash to do that around here.
* This post was
edited 10/09/08 09:51pm by an administrator/moderator *
Wayne in San Jose
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Supercharged
Az.
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Joined: 01/01/2005
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PopBeavers wrote:Skid Row Joe wrote:I disagree, when I bought my first home, I put 50% down. Can't get more "normal" than this high school grad. That was 25 years ago. Coulda paid cash for it, but had the other half of my money in Berkshire-Hathaway, Inc. stock. Anyone who sez you can't pay cash for a home doesn't know me.....and sure doesn't plan ahead for that matter. They must think the "little guy" can't get ahead. Everybody's out to get the "little guy!" LOL!
Median home price in today's market where I live is 462k. The cheapest house I could find listed was 295k, not in a part of town I would want to live in.
Very few high school grads have enough cash to do that around here. I'm a high school grad. I have a home and another one in the moutains free and clear. I live only where I could aford to when I was young and worked my way up to the big one and then choose to live in a 2000 ft. home now. Those who fail to plan, plan to fail.
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AO_hitech
SF Bay Area
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Joined: 08/09/2004
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Supercharged wrote:If you don't put down 20% then it is my 20% that is up along with other tax payers. That would make you a free loader.
I guess that makes 95+% of us (in this area) freeloaders. I guess it's a good thing you are there for them. Thanks, they'd never buy a house without you.
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AO_hitech
SF Bay Area
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Joined: 08/09/2004
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Skid Row Joe wrote:PopBeavers wrote:Median home price in today's market where I live is 462k. The cheapest house I could find listed was 295k, not in a part of town I would want to live in.
Very few high school grads have enough cash to do that around here. Apparently so........the CA market's gone belly-up. Money has quit growing on trees in CA, I heard.
The "greater fools" got caught upside-down on the CA real estate Ponzi scheme you guys have out there.
That is what is has come down to, not where it was. In this "belly-up" market as you put it you still can't pay cash. NO WAY.
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WTTCS
freedom , U.S.A.
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Joined: 07/28/2003
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Some of us can .
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AO_hitech
SF Bay Area
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Joined: 08/09/2004
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WTTCS wrote:Some of us can.
Certainly, some can. But very few can without selling the existing house first. Even fewer who are under 40 can, and for those under 30, well, there might be someone here.
Bottom line, it is extremely unrealistic to expect people to pay cash for a house. You shouldn't have to be a financial expert to purchase a home (outright purchasing, not trading one for another). It's ludicrous.
Think the economy is bad now...
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