Quote:
Originally Posted by dinosaur
This IS the dream people are still signing up for. It is fucking sad and WAY fucking scary.
Your friends will be hanging on by a thread for a long time...if they even make it. But, I bet if you asked them a year before they bought and reno'd if they thought that home ownership was a good idea, they would have looked at you as if you were crazy.
"OF COURSE ITS A GOOD IDEA!"
Our parents owned, their parents owned, it is the only way to tell the world that "you have made it"! If we aren't all striving for home ownership, then what the fuck are we doing!?
I totally get it...its hard to resist because everyone around you is buying. You think that MAYBE you are wrong for resisting...its can't be THAT bad?
Yes....yes, it can. You friends are a prime example and what the reality of home ownership is today.
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Personally, I find it very scary to commit to a mortgage at this stage of the world's economic evolution (or devolution). Who's to know which industries will be around 20-30 years from now? My friend is only in school because he lost his f/t job (the one that got him qualified for the mortgage in the first place). His industry is dying due to change in the industry itself. Change typically equals more computers and less people.
At most, I'd settle for a Condo but the developers around here seem to be greedy and disgusting with their high strata fees and lackluster construction.
Even if you do rent, it's still a home.