Rush Limbaugh wants me to buy a house

[Walden Pond]

He says that my generation's refusal to buy a house means we're scared, brainwashed by liberalism and believe that America's best days are behind it.

I'm not buying a house. They want a big chunk of cash up front for a down payment, big property taxes, big utility bills, bigger space to heat and cool, maintenance, upkeep, all to still live 10 feet from someone else anyway. What's the point?

Not only that, but if you really want to work in the same place your whole life, you probably are going to have to be willing to change careers. I recall all the people on WSAZ whining because the plant closed. Either move somewhere else with a plant or find a new line of work. That's not being a scared liberal, it's just facing reality.

Look at professional ball players. They have to be ready to play ball in Cincinnati one day and may be traded to Los Angeles next week. That's the way things work. Unless you're willing to be a telemarketer one day and a grocery bagger the next, you'll probably have to move someday. I don't want to be stuck with a damn house to sell when that happens.

 

[SHAMMOND16]

He says that my generation's refusal to buy a house means we're scared, brainwashed by liberalism and believe that America's best days are behind it.

I'm not buying a house. They want a big chunk of cash up front for a down payment, big property taxes, big utility bills, bigger space to heat and cool, maintenance, upkeep, all to still live 10 feet from someone else anyway. What's the point?

Not only that, but if you really want to work in the same place your whole life, you probably are going to have to be willing to change careers. I recall all the people on WSAZ whining because the plant closed. Either move somewhere else with a plant or find a new line of work. That's not being a scared liberal, it's just facing reality.

Look at professional ball players. They have to be ready to play ball in Cincinnati one day and may be traded to Los Angeles next week. That's the way things work. Unless you're willing to be a telemarketer one day and a grocery bagger the next, you'll probably have to move someday. I don't want to be stuck with a damn house to sell when that happens.

Plus, it's tough for a lot to buy when they have to essentially make 2 mortgage payments every month (mortgage + student loans).

 

[Walden Pond]

If it was really holding me back from doing something I wanted to do, I'd quit paying off my student loans. They won't do anything about it. Look at all these idiots majoring in tiddlywinks. No way they're ever paying them back.

"Oh, we'll mark it down against your credit." Big deal, mark it down. If somebody doesn't want to sell me something because of it in the future, I probably didn't need it anyway.

Only reason I pay them back now is because it's not hurting me any. If it ever did though, I'd stop in a hurry.

 

[i am herdman]

Why would you continuously throw away money for rent? I could see it before you are established or if you are only in an area for a year or two.

But, I will tell you what the problem is. This younger generation who might surpass the hippies of the 60's as the worst generation in American history, want everything and they want it big right away. The hippies reproduced and now their children are taking over. Screwed up libtards and tree huggers who had little brains of mush.

This younger generation won't settle for the 1100 square foot house that needs a little work. Or, they won't settle for a mobile home. They want the 2500 square foot house on the golf course and neighborhood with the community pool. Our first house was a 1976 Clayton and our payment was $146 dollars a month. Then, the first house we got was a 1250 square foot rancher. No, these young ass bags want a 3000 square foot condo because they don't want to mow grass and they want lawn care and live in the neighborhood where you have status.

That's the damn problem. They don't want to work their way up. Bunch of lazy spoiled hippy reared brats is what they are.

 

[Walden Pond]

Why would you continuously throw away money for rent? I could see it before you are established or if you are only in an area for a year or two.

How can anybody know this won't be the case?

Maybe this is just where I've only ever lived in Rust Belt hell. The factories are closed. Really all that's left is a service economy of serving a bunch of people getting checks in the mail. It just doesn't scream "PROSPERITY FOREVER."

And if it can happen here, why not anywhere else? I figure we're like pro sports players. Liable to be shipped off to some other city on a moment's notice. Not shipped by the employer, but fired and having to move to find something else.

 

[-CarlHungus-]

It's not some generational thing based on attitude/principals. The McMansions are falling out of favor for the younger generation anyway.

Herdman you prob went to Marshall for one tenth of the cost tuition is today...and a starting salary out of school now is probably not terribly different than what it was in the 90's. Good luck finding a (financially responsible) mortgage without 20% down (PMI is more of a waste than rent) while you have student loan debt.

If you want to make money in business as an employee now you've got to be willing to change jobs frequently. Companies have no loyalty to you any ore, so you've got to be willing to leave

 

[GreenDuke]

Its easier to pay cash for a house.

 

[Walden Pond]

A house would be lost money to me. No way to ever sell it. Not only would it be run down in no time since I won't do physical labor to maintain or clean it, but I'm not a schmoozer, not a salesman, and really I wouldn't even want to talk to potential buyers. They're strange people. Probably stinking fat loudmouths with lice.

 

[herdfan06]

I only had to put down 5% (around), I have no PMI and my rate is 3.5%.

 

[-CarlHungus-]

I only had to put down 5% (around), I have no PMI and my rate is 3.5%.

That's an amazing deal unless you paid a ton of points on that.

 

[wisemaniac]

It's not some generational thing based on attitude/principals. The McMansions are falling out of favor for the younger generation anyway.

Herdman you prob went to Marshall for one tenth of the cost tuition is today...and a starting salary out of school now is probably not terribly different than what it was in the 90's. Good luck finding a (financially responsible) mortgage without 20% down (PMI is more of a waste than rent) while you have student loan debt.

If you want to make money in business as an employee now you've got to be willing to change jobs frequently. Companies have no loyalty to you any ore, so you've got to be willing to leave

Is putting 20% down on a conventional to avoid PMI the way to go? Damn right. Is PMI a ripoff, for people who are responsible, it sure as hell is. But if you're willing to take it on, folks can qualify for an FHA with a 640 credit score with 3.5% down (which can be a gift). Hell, if you can get the seller to pay closing costs on an eligible USDA address, with a 640, you can move in damn near on the sly.

 

[wisemaniac]

I only had to put down 5% (around), I have no PMI and my rate is 3.5%.

Is it a VA?

 

[-CarlHungus-]

Is putting 20% down on a conventional to avoid PMI the way to go? Damn right. Is PMI a ripoff, for people who are responsible, it sure as hell is. But if you're willing to take it on, folks can qualify for an FHA with a 640 credit score with 3.5% down (which can be a gift). Hell, if you can get the seller to pay closing costs on an eligible USDA address, with a 640, you can move in damn near on the sly.

I thought the new FHA loans had pmi on the life of the loan (even after you hit 20% equity).

I have a deal similar to herdfan, little down, no pmi physician loan, but my rate is more than his but still historically low at like 4.2%

 

[herdfan06]

Is it a VA?

No, it is a special first time buyer program one of my local banks offers.

 

[herdfan06]

That's an amazing deal unless you paid a ton of points on that.

I will have to look up to see, I honestly do not remember.

 

[wisemaniac]

I thought the new FHA loans had pmi on the life of the loan (even after you hit 20% equity).

I have a deal similar to herdfan, little down, no pmi physician loan, but my rate is more than his but still historically low at like 4.2%

PMI is like herpes now. Like I said, 20% if you can do it but if not, there are other loan programs out there. You just have to be willing to shoulder the cost (& know you're stuck with it.) If people are smart & it makes sense, re-fi down the road to get rid of that PMI.

Huntington Banks offers a pretty good Physician's loan program.

 

[i am herdman]

It's not some generational thing based on attitude/principals. The McMansions are falling out of favor for the younger generation anyway.

Herdman you prob went to Marshall for one tenth of the cost tuition is today...and a starting salary out of school now is probably not terribly different than what it was in the 90's. Good luck finding a (financially responsible) mortgage without 20% down (PMI is more of a waste than rent) while you have student loan debt.

If you want to make money in business as an employee now you've got to be willing to change jobs frequently. Companies have no loyalty to you any ore, so you've got to be willing to leave

Well, you answered your own question and make my point. Live in a mobile home. Buy a place and fix it up. Don't guy a house you have to have 20% down.

My last year of Marshall I was married, working 2 jobs, was finishing out a military commitment and took 18 hours. The first year we were married we made 17k in one year, combined. We rented for a few years and then bought an old mobile home. Not a new one. I painted it, fixed the roof and the floors. My son was born when we lived in it.

That can still be done and it is a generational thing. Young employees below 30 suck these days(for the most part). They can't think for themselves and want to start out at the top.

Yes, college is expensive but places like Marshall, for in state residents, is still a great value.

 

[Walden Pond]

You've got to have a place to put that trailer. Unless you know somebody out in the country who will give you a good deal on a small lot, you either have to buy a farm or go pay $250-$300 a month lot rent to live beside a bunch of bitchy hogs.

Trailer parks are full of garbage. We lived in one from '91-'93. My mom got us kicked out by carrying on with her drunks she brought over while we went to a Reds game. Was the best thing that could have happened. That place sucked.