276: Corsages and Coconuts

[scottperezfox]

Regarding attraction to young people and teenagers:

I have studied anthropology a bit and one of the most interesting things I read described how in every human society known to exist, there are two pillars of beauty: Health and Youth. This makes sense both from a natural/evolutionary standpoint and also from a modern-societal point of view.

In spite of problems with obesity in the US, teenagers generally are the most potent source of both youth and health. Men want to have sex with them. That's why there's a law against it.

Debate ....

[scottperezfox]

And another thing, Chemda, there are a lot of mid-twenty-somethings who cannot afford to buy a house even if they live with parents to save money. Depending on the job situation, buying a house may not be anywhere in their sights, and living with the family is the result of the situation, not the failure of the individual.

About 85% of my friends live with our families, including myself. Several are in grad school (or just out, like me) and numerous others are schoolteachers, which doesn't pay shit. Like in NYC, housing in the North Jersey commuter belt is intense.

Believe me, I'll be moving out as soon as I can. And yes, I have been saving money - more than most of my friends. No love lost!

[unknownsoldier]

Definitely: if you're 24 and only just left uni one or two years ago "buying" a house is nearly impossible. Especially down here in Australia!

[B-Rockah]

Who says you need to buy a house? At 24 you don't want all the responsibility that comes with owning a house. Get a roommate or two, rent a house or an apartment, have mad house parties and leave the crap for the landlord to deal with. There are tons of websites that'll even help you find cool places to live. Really, there's no excuse for staying at home with the 'rents... I've been going to school fulltime and living on my own for 4 years now (not in dorms)

[unknownsoldier]

where do you get rent money+money to live on working part time?

[blue eyes]

Work odd hours, eat cheap, no car and shop at Goodwill. Take out a ton of student loans.

Debt, its' the American Way

But it beats the hell out of having to rely on parents

[paul_r]

Originally Posted by blue eyes

Debt, its' the American Way

a mortgage is cheaper, debt wise % rate and overall cost is cheaper than renting, you can always sub-let

(the mort bit is depressing though)

[arcatacat]

Originally Posted by blue eyes

Work odd hours, eat cheap, no car and shop at Goodwill. Take out a ton of student loans.

Debt, its' the American Way

But it beats the hell out of having to rely on parents

Hell, heah....

I worked full time for 4 years while going through Jr. College, then transferred to a University where I racked up massive student loans for 2 1/2 years and didn't work. I now owe a lot (shudder) of money for my education, but it was well worth not having to live with my parents that whole time.

[spooky]

Originally Posted by paul_r

a mortgage is cheaper, debt wise % rate and overall cost is cheaper than renting, you can always sub-let

(the mort bit is depressing though)

no, actually, it isnt. you dont just pay the mortgage, you pay taxes, insurance, maintenence, theres all sorts of added expense. the average person stays in a purchased home only seven years, the first year or so of which you are essentially only paying interest on the house, it takes a bit before you really start amassing equity.

and then theres the marketplace, believe it or not, some markets arent gaining in value, that house you paid 100k for, seven years later when you sell may only be worth 75k. and if interest rates shoot up, theres the possibility of a depressed market and no buyers. whats it going to cost you to keep the house unoccupied while you try to sell?

and you mention renting it out, if you arent getting 1% a month for rent, youre digging a hole. renting a family type home for 1% is virtually impossible, a thousand bucks a month on a cheap 100k home is pretty expensive.

so theres a TON of your ass laid out on the line when you buy, thats totally unexposed when you rent. its cheaper to rent, in the long run.

[paul_r]

Originally Posted by spooky

no, actually, it isn't. you don't just pay the mortgage, you pay taxes, insurance, maintenance, there's all sorts of added expense. the average person stays in a purchased home only seven years, the first year or so of which you are essentially only paying interest on the house, it takes a bit before you really start amassing equity.

the mortgage rate is about .5% above base rate here, a loan would be 3-5% more at a minimum. most people in London renting i know pay twice as much as me, you still have to pay taxes etc..

Yes people move house, they just get another bigger loan and pay that off. when it's paid off that's it, 25 years or the rest of your life into old age.

according to this site with the default values over 7 years (you can put your own in)

"On an annual basis, buying will cost $1325 less than renting. This is based on financial analysis, which differs from actual cash outlays. Overall, the conclusion is: buying is slightly better"
http://www.homefair.com/homefair/ser...Fee=0&occupy=7

and then there's the marketplace, believe it or not, some markets aren't gaining in value, that house you paid 100k for, seven years later when you sell may only be worth 75k. and if interest rates shoot up, there's the possibility of a depressed market and no buyers. what's it going to cost you to keep the house unoccupied while you try to sell?

if the markets falling then you should be looking to buy, the price will only go up again, that's what happened here.

and you mention renting it out, if you aren't getting 1% a month for rent, you're digging a hole. renting a family type home for 1% is virtually impossible, a thousand bucks a month on a cheap 100k home is pretty expensive.

and i wasn't talking about renting the whole place, you can easily rent rooms out if you need the money.