7 Comments posted by Roy on 5/17/2009 10:13:00 PM
Went to look at condos today. There are some pretty nice places out there. But given my current financial state, anything I buy would make my budget extremely tight.
On the one hand, it's a bit of a "waste" to spend all that money on rent when I can use it to pay toward my own place. On the other hand, is it really a smart idea to deplete my savings given the current economic climate? Maybe I can ask Suze if I can afford it!
Maybe call your uncle domingo for advice
May 18, 2009 3:01 PM
Housing tends to be vastly overestimated as an investment. Much of the current common knowledge is based on the crazy unsustainable growth in housing prices that we've seen over the last 20 years, and may well not see again over our lifetimes.
The idea that equates renting with "wasting" and buying with "investing" is a part of that common knowledge. :-)
May 18, 2009 3:11 PM
Correction: the period of crazy growth was less than 10 years long. (http://www.businessinsider.com/the-housing-chart-thats-worth-1000-words-2009-2)
May 18, 2009 8:16 PM
Oh wow, that's a rather steep curve.
May 24, 2009 3:14 AM
did you get a cat?
May 24, 2009 9:18 AM
No, have to take care of my colleague's cats... go over to her apartment and feed them, and scoop their waste :P. The cats are cute.
May 24, 2009 4:50 PM
haha ok but be careful with the allergies :)