Credit does not suck. Using it to meet basic needs does.
Wait a minute, I have to come back to this. Credit to buy - what, a big tv - is okay, but not to buy a house? What do you think credit should be used for?
Buffy: He ran away, right? Giles: Sort of, more. turned and swept out majestically, I suppose. Said I didn't concern him. Buffy: So a mythic triumph over a completely indifferent foe? Giles: Well, I'm not dead or unconscious, so I say bravo for me.
'Same Time, Same Place'
Natter 34: Freak With No Name
Off-topic discussion. Wanna talk about corsets, duct tape, or physics? This is the place. Detailed discussion of any current-season TV must be whitefonted.
brenda m - Apr 21, 2005 7:11:12 pm PDT #7938 of 10001
If you're going through hell/keep on going/don't slow down/keep your fear from showing/you might be gone/'fore the devil even knows you're there
brenda m - Apr 21, 2005 7:13:52 pm PDT #7939 of 10001
If you're going through hell/keep on going/don't slow down/keep your fear from showing/you might be gone/'fore the devil even knows you're there
Man, I need to get out there and get some more parking tickets.
Gus - Apr 21, 2005 7:16:18 pm PDT #7940 of 10001
Bag the crypto. Say what is on your mind.
Brenda, I answered this a few "continued"'s' back.
brenda m - Apr 21, 2005 7:20:25 pm PDT #7941 of 10001
If you're going through hell/keep on going/don't slow down/keep your fear from showing/you might be gone/'fore the devil even knows you're there
Yup, just saw it. So, buying a business is ok (agreed) but not buying a house? I just don't get that. As for other things that might "keep you ahead of the interest," what would that be? Buying on margin?
Gus - Apr 21, 2005 7:21:41 pm PDT #7942 of 10001
Bag the crypto. Say what is on your mind.
How much could you borrow on your current monthly rental payment?
Buying on margin?
O, no you don't. I have my arithmetic in hand.
brenda m - Apr 21, 2005 7:22:57 pm PDT #7943 of 10001
If you're going through hell/keep on going/don't slow down/keep your fear from showing/you might be gone/'fore the devil even knows you're there
I'd still have to pay the rent, though. I don't get out of that by putting the money to another use. [eta] Unless it were going to a mortgage. So the question is more, how much could I borrow with what I have left over after I pay the rent and other fixed expenses, isn't it? And the answer is, precious little.
Gus - Apr 21, 2005 7:32:17 pm PDT #7944 of 10001
Bag the crypto. Say what is on your mind.
x-posty with Brenda:
Rent is not all the money you spend. Nor are groceries, cable, utilities, or Pina Coladas at the "local".
OK, in your case, it could be clothes, 'cuz you look ... wait for it ... mahvellevous!!
Hil R. - Apr 21, 2005 7:35:54 pm PDT #7945 of 10001
Sometimes I think I might just move up to Vermont, open a bookstore or a vegan restaurant. Adam Schlesinger, z''l
One of my friends is living in an apartment that her mother bought. Rather than paying rent, she pays the mortgage payments each month. It works out to just about what I'd expect to pay in rent for that apartment.
Not sure if this is totally relevant, but it's a data point.
Gus - Apr 21, 2005 7:41:38 pm PDT #7946 of 10001
Bag the crypto. Say what is on your mind.
Not sure if this is totally relevant, but it's a data point.
Totally on point. Rent = mortgage. Who gets the equity?
Burrell - Apr 21, 2005 7:47:12 pm PDT #7947 of 10001
Why did Darth Vader cross the road? To get to the Dark Side!
To whomever was asking above, I wasn't induced today. Still pregnant.
ita, debt does not equal house. You can own the thing, with no third party involved. Really.
Well, unless you can pay cash (and we've already established that the vast majority of us cannot) it's more like you can owe the bank or you can owe the former owner. And at least with the bank, you can write off part of it on your taxes, as MFN points out.
As for renting, I'd have to pay roughly the same amount for rent as I would for the mortgage. I have friends who would have to double their mortgage if they were considering renting instead of buying through a bank loan. And I live in the land of stupidly inflated housing prices.