Comments on: Be Human and Buy a Home

By: AprilC

AprilC — Fri, 27 Jan 2012 19:16:49 +0000

In some areas its practically impossible to buy a home due to the prices of the house and the cost of living. If instance if you live in Los Angeles county and make less than 6 figures – your most likely not going to be able to afford to buy a home. There are some low-income housing but those usually go to people via lottery and only to minorities. Non-minorities who are middle-class are pretty much being left out of the housing market.

By: joy paterson

joy paterson — Tue, 27 Jul 2010 19:50:53 +0000

I think if you are able to own a home, do it as long as you dont over extend yourself. As a Toronto Realtor Ive seen many clients make a nice profit from buying and selling real estate – Toronto condos espeically. Real estate is like the stock market – prices go up and down but in the end its just a cycle and prices come back around eventually.

By: lost home

lost home — Tue, 20 Jul 2010 01:45:24 +0000

i have to agree with alot of people . I think it all depends on your circumstances . We bought our house in97 and just spent to much . we had to buy cars and stuff. but we also lost our jobs. WE didn’t forclose but did a short sale. But on the other hand i think that owning a house is a scam because no matter what loss of job divorce etc you never really own a home unless you do pay it off. It was not totally our fault. You never own your house unless you pay it off. And with this economy the way it is , I will never trust anything our gov’t or business tells me anymore in America. This country is nothing more than a scam. I am not going to kill myself working just to pay off a house, I don’t have kids and I didn’t have my parents help me buy one either, So when I am dead and gone I am not leaving anybody anything.

By: Elwin

Elwin — Sat, 19 Jun 2010 13:51:48 +0000

The whole housing thing is one huge racket. It’s ridiculous how expensive housing is. Everybody these days thinks they have to live in a “mini-mansion”, and an ongoing rent expense is a total waste of money. The only way to really take advantage of “owing” a home is to actually own it, not “share” it with a lending institution.

My parents didn’t have a mortgage. Not having a mortgage can effectively almost double one’s income, tax free. Granted, their circumstances were unusual. We lived in rural Alaska on 5 acres of land leased from the state for $250 a year. We had a 2000+ square foot house, but it was paid for a bit at a time, because it was built just a bit at a time. Yes, it was an unusual house, not one of these overpriced things you see in “Home” magazine, but it did the job of keeping us warm and dry, which is really all the primary function of a house is. It wasn’t built “to code”, it wasn’t designed by some “expert”, but it housed our family for a good 20 years, and went on to house at least two other families for another 10-15 years. Eventually, it burned down, probably because of lack of maintenance.

If some of the more “unconventional” housing methods, such as straw bale, rammed earth, papercrete, etc. were to become more widely accepted; if, instead of buying some overpriced, stick built, sheetrock festooned monstrosity, people were allowed to build their own houses (rather than having to pay for some so-called “expert” to build it for them), we’d all have more affordable, and individual, living spaces, instead of vast tracts of housing that are “all made out of ticky tacky and all look just the same.” How people can stand to live in such housing developments is beyond me.

By: Toronto homes

Toronto homes — Sun, 26 Apr 2009 20:30:51 +0000

I agree with the real estate agent, I am sure that luxurious condos or downtown Toronto lofts are always a savvy investment and a great way to go enjoy urban living.

By: lena the thinker

lena the thinker — Sun, 06 Apr 2008 02:37:10 +0000

I think having your own home is a good idea and good for you too. At least you know that you will never be somewhere when you get old.

By: Toronto real estate agent

Toronto real estate agent — Fri, 04 Apr 2008 17:53:26 +0000

As I`m a realtor somebody would expect me to agree with the opinion that owning a house is the best thing in your life, however time has changed and they are more and more alternative options of living which also can be favourable. I think that it`s better to rent a house than taking huge mortgage, after failing to pay it back it leads to foreclosure. The Toronto condos for example are the most tempting living options for so many couples buying their first home. I think that we should always consider our present situation and take steps forward according to this.

By: Joe @ SimpleDebtFreeFinance.com

Joe @ SimpleDebtFreeFinance.com — Thu, 03 Apr 2008 16:32:58 +0000

Great post David.

I couldn’t agree more.

I think a lot of people who advocate renting over buying are either looking at owning a home as a short term investment only, or aren’t at a point in their life where owning a house would make sense anyway.

By: AJC @ 7million7years

AJC @ 7million7years — Wed, 02 Apr 2008 05:50:34 +0000

Purely financially speaking NOBODY should own a home (they should instead invest exactly the same amount externally & reap the benefits).

However, practically speaking EVERYBODY should own a home (because they probably WON’T otherwise invest all the money that they would ‘save’ by renting).

For most people (90%+0 OWNING their own home (as long as they don’t break the 20% Rule) is the ONLY way that they will ever becoe financially free.

Thanks for the post/s.

By: Carrie

Carrie — Wed, 02 Apr 2008 02:03:13 +0000

I am so glad you are pointing out both sides… not everyone should own a home. If people paid more attention to their real needs, fewer people would be in foreclosure today.