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OTA, I hope you will find the blog helpful
posted by
SuccessWarrior
on December 10, 2006 at 9:31 AM
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Im at it again
I stumbled upon your blog and read through several of your posts. I enjoy reading about being wise with money. I wish I had kept track of everytime I had tried to be more responsible with mine. You inspire me to try again. Thanks!
posted by
Blue_feathers
on December 10, 2006 at 4:41 AM
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Nanaroo, I've done that before
You have to do what works for you. As long as you keep aware and make a concious decision on how to spend your money, that's all I'm suggesting.
posted by
SuccessWarrior
on December 8, 2006 at 4:23 PM
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Troosha, I agree with you. This post is part of a series of posts.
What I want to point out is that renting is not necessarily the "evil" that some people try to paint it.
I'm betting on the housing market myself but it's not for everyone.
posted by
SuccessWarrior
on December 8, 2006 at 4:22 PM
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Ben, I've seen similar advice and
I don't think that you can necessarily stick with that rule. Not that it's a bad rule but I think it's better to look at your overall debt and that percentage. My wife and I went over our suggested percentage on both of our last house purchases but we don't have much other debt so we can afford to fudge in that area. Overall debt is far more important.
posted by
SuccessWarrior
on December 8, 2006 at 4:20 PM
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Successwarrior
hi ya,
hey we just sold our house, had to sell it cheaply to get out of it but it was way too expensive for us and now we are soooooo much happier in our bright sunny wonderful apartment! With a falling housing market out here, we'll wait for the upturn before we buy again...
posted by
Nanaroo
on December 8, 2006 at 1:36 PM
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Sorry- I disagree
But the financial merit of "buying" versus renting may be very different from the West Coast of Canada than from where you are. Here, with interest rates as low as they are and property values climbing almost hourly it is an extremely worthwhile investment to re-direct rent money into the purchase of a home or apartment (condo). In fact, rent is currently working out to be more than the mortgate payment. The trick, however, is to know when the shift will occur, and to sell when the wave is at its peak. And no one has the crystal ball.
posted by
Troosha
on December 8, 2006 at 1:25 PM
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What do you think of the advice I've seen, about how housing costs (rental or mortgage payments, taxes if you own, and so forth) should constitute only a certain percentage of your income? I've been thinking this issue through lately, because I feel our rent costs too high a percentage of our income, and I don't feel we get value for the money.
posted by
kidnykid
on December 8, 2006 at 1:24 PM
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M, I've done that as well
But I didn't have a barbeque grill so that didn't quite work out so well.
posted by
SuccessWarrior
on December 8, 2006 at 9:57 AM
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You know what would be a pretty good idea?
To rent out houses, instead of apartments.
I bet that would be pretty popular ... seeing as the renter would still enjoy all the conveniences you mention, but without having to give up barbecuing.
Sometimes, when I lie in bed at night,
and look up at the stars,
I think to myself,
"Man! I really need to get that roof fixed."
posted by
Mademoiselle
on December 8, 2006 at 9:32 AM
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