My financial anxiety is that I will be renting until I'm dead
All of my friends have houses now, even though the market here has an average price of almost $800,000
Most of them have partners making good money, but one is a lawyer making excellent money who bought a house solo
my roommates just bought a house with (literally) zero money down. part of me is jealous but also part of me is like- damn i'm glad i don't owe a bank 400k while i have no savings.
Isn't that very, uh, 2008ish
it's fixed rate. their payment isn't going to change (except i guess they can refinance to remove PMI once they've built 20% equity). so there is the chance of them losing their income but unlike in 2008, their recurring costs aren't variable (one of the real terrors for ignorant borrowers back then)
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ChanusHarbinger of the Spicy Rooster ApocalypseThe Flames of a Thousand Collapsed StarsRegistered Userregular
My fiancee is a very practical person in some ways but I'm like "we should buy property even if we intend to move in the future. The most common driver of senior poverty is lack of home ownership."
And she's like "I don't know if I even want to own property"
Which I absolutely get because owning a home sounds like kind of a nightmare but so does being old on a fixed income and paying rent every month and working until you're dead
I think we're fairly lucky in that I will likely inherit a house (and mortgage) from my mother, and her parents have a farm worth millions, but those things are very contingent and uncertain and I'd like my financial security not to depend on the death of multiple loved ones
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amateurhourOne day I'll be professionalhourThe woods somewhere in TennesseeRegistered Userregular
We're going to start getting our stuff in bulk from Azure Chu so I'll let you know what the per meal cost comes out to. We're starting this week with meal prep, just doing one meal and freezing 4-6 servings to see if we like the process.
My financial anxiety is that I will be renting until I'm dead
All of my friends have houses now, even though the market here has an average price of almost $800,000
Most of them have partners making good money, but one is a lawyer making excellent money who bought a house solo
my roommates just bought a house with (literally) zero money down. part of me is jealous but also part of me is like- damn i'm glad i don't owe a bank 400k while i have no savings.
Isn't that very, uh, 2008ish
It is from USDA for rural housing. I looked it up. Not a private loan but government subsidized loan.
My fiancee is a very practical person in some ways but I'm like "we should buy property even if we intend to move in the future. The most common driver of senior poverty is lack of home ownership."
And she's like "I don't know if I even want to own property"
Which I absolutely get because owning a home sounds like kind of a nightmare but so does being old on a fixed income and paying rent every month and working until you're dead
I think we're fairly lucky in that I will likely inherit a house (and mortgage) from my mother, and her parents have a farm worth millions, but those things are very contingent and uncertain and I'd like my financial security not to depend on the death of multiple loved ones
When your parents are incredibly overweight on property and reluctant to diversify, I think it makes taking a mortgage out on what seem like sky-high prices feel very risky with little upside compared to just plowing into stonks and bearing a rent which is manageable. Rents feel ceiling'd by wages and inflation so the risk of being homeless short of total long term unemployment is low? A few metros are perhaps guaranteed but the risk tolerance of buyers seems...historically high right now.
My financial anxiety is that I will be renting until I'm dead
All of my friends have houses now, even though the market here has an average price of almost $800,000
Most of them have partners making good money, but one is a lawyer making excellent money who bought a house solo
my roommates just bought a house with (literally) zero money down. part of me is jealous but also part of me is like- damn i'm glad i don't owe a bank 400k while i have no savings.
Isn't that very, uh, 2008ish
it's fixed rate. their payment isn't going to change (except i guess they can refinance to remove PMI once they've built 20% equity). so there is the chance of them losing their income but unlike in 2008, their recurring costs aren't variable (one of the real terrors for ignorant borrowers back then)
You don't have to refinance. PMI is automatically dropped at the time you are projected to reach a certain percentage, but if you achieve 20% early you can petition to have it dropped sooner and the bank has to do it.
JebusUD on
and I wonder about my neighbors even though I don't have them
but they're listening to every word I say
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amateurhourOne day I'll be professionalhourThe woods somewhere in TennesseeRegistered Userregular
Shit yes Chanus that was great and I missed it in my life.
Mazz is that chart speaking to free range grazing specifically?
Cause like yeah, I agree with the numbers, but shit land can also just be cut and rolled for hay bales, which feed a cow just fine.
Like I'm not disagreeing with you, but something isn't adding up in my head.
edit: The backyard homestead, a book, states that 1 acre can sustain 1 cow plus a small homestead (200sqft or more of farm area, chickens, etc) and I imagine they're doing that with hay
This is variable by state. Which is more what I was showing. East Texas is greener, has more growth and land that supports cattle. Like where you are you can probably do a cow an acre fine. But the Texas Panhandle needs a lot more because less water, less grazing, and a worse growing season.
Most of the West and the Great Plains are closer to the Pan Handle than East Texas.
My financial anxiety is that I will be renting until I'm dead
All of my friends have houses now, even though the market here has an average price of almost $800,000
Most of them have partners making good money, but one is a lawyer making excellent money who bought a house solo
my roommates just bought a house with (literally) zero money down. part of me is jealous but also part of me is like- damn i'm glad i don't owe a bank 400k while i have no savings.
Isn't that very, uh, 2008ish
it's fixed rate. their payment isn't going to change (except i guess they can refinance to remove PMI once they've built 20% equity). so there is the chance of them losing their income but unlike in 2008, their recurring costs aren't variable (one of the real terrors for ignorant borrowers back then)
You don't have to refinance. PMI is automatically dropped at the time tou are projected to reach a certain percentage, but if you achieve 20% early you can petition to have it dropped sooner and the bank has to do it.
they don't do it the same way anymore
now it's structured into the life of the loan
you can still have it removed if you get to 20% equity though, which might be the better way to go as rates are probably not going to go down in the next few years
Allegedly a voice of reason.
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amateurhourOne day I'll be professionalhourThe woods somewhere in TennesseeRegistered Userregular
Mazz is that chart speaking to free range grazing specifically?
Cause like yeah, I agree with the numbers, but shit land can also just be cut and rolled for hay bales, which feed a cow just fine.
Like I'm not disagreeing with you, but something isn't adding up in my head.
edit: The backyard homestead, a book, states that 1 acre can sustain 1 cow plus a small homestead (200sqft or more of farm area, chickens, etc) and I imagine they're doing that with hay
This is variable by state. Which is more what I was showing. East Texas is greener, has more growth and land that supports cattle. Like where you are you can probably do a cow an acre fine. But the Texas Panhandle needs a lot more because less water, less grazing, and a worse growing season.
Most of the West and the Great Plains are closer to the Pan Handle than East Texas.
I'm with you now, like how they'll have a thousand acre cattle ranch in Montana with 200 head of cattle, cause that's how shitty the water is underground through like a third of the US
Thank you! I thought I was going nuts.
Also with global warming I guess I need to get into all the shit they do in Florida because Tennessee is quickly becoming a rainforest in the summers.
I have about 100 pictures of meals I've made over the last couple years, but they're all just shit from cookbooks and I definitely did not write down any of the thoughts/tips I had on the process.
hmm how many compelling stories do you have about your nana's cooking or your trip to the french countryside
zero, but some of them include the blur of my Australian Shepard
I have about 100 pictures of meals I've made over the last couple years, but they're all just shit from cookbooks and I definitely did not write down any of the thoughts/tips I had on the process.
hmm how many compelling stories do you have about your nana's cooking or your trip to the french countryside
zero, but some of them include the blur of my Australian Shepard
You and I need to workshop the perfect meatball sandwich
are YOU on the beer list?
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TavIrish Minister for DefenceRegistered Userregular
the cool thing is that i fully expect to be dead before i run out of retirement money
My financial anxiety is that I will be renting until I'm dead
All of my friends have houses now, even though the market here has an average price of almost $800,000
Most of them have partners making good money, but one is a lawyer making excellent money who bought a house solo
my roommates just bought a house with (literally) zero money down. part of me is jealous but also part of me is like- damn i'm glad i don't owe a bank 400k while i have no savings.
Isn't that very, uh, 2008ish
2008 would be taking that house and refinancing based off it's increase in value over the last year to use as backing for a second house.
ChanusHarbinger of the Spicy Rooster ApocalypseThe Flames of a Thousand Collapsed StarsRegistered Userregular
i think not paying rent after retirement is still generally a good plan but home ownership can often be more expensive than renting in the near term if you can even afford to buy in the first place
also assuming the planet is still livable in 30 years lel
i don't really care about the sigh of satisfaction, ah, this is MY place- the aspirational dream of home ownership, or whatever
but i very much would like 1) to be able to do whatever i want to a place, remodel, get whatever nice appliances i want, etc and 2) never be surprised by a landlord selling my building or rising the rent precipitously
Mazz is that chart speaking to free range grazing specifically?
Cause like yeah, I agree with the numbers, but shit land can also just be cut and rolled for hay bales, which feed a cow just fine.
Like I'm not disagreeing with you, but something isn't adding up in my head.
edit: The backyard homestead, a book, states that 1 acre can sustain 1 cow plus a small homestead (200sqft or more of farm area, chickens, etc) and I imagine they're doing that with hay
This is variable by state. Which is more what I was showing. East Texas is greener, has more growth and land that supports cattle. Like where you are you can probably do a cow an acre fine. But the Texas Panhandle needs a lot more because less water, less grazing, and a worse growing season.
Most of the West and the Great Plains are closer to the Pan Handle than East Texas.
I'm with you now, like how they'll have a thousand acre cattle ranch in Montana with 200 head of cattle, cause that's how shitty the water is underground through like a third of the US
Thank you! I thought I was going nuts.
Also with global warming I guess I need to get into all the shit they do in Florida because Tennessee is quickly becoming a rainforest in the summers.
Yeah global warming is going to destroy the great plains as a food producing region. Return it back to the Great American Dessert period.
Like there are pictures of a few places near where my folks currently live that when I grew up were prairie grassland but in the 1930's and 1940's they were sand dunes. And its turning back into that.
My parents are moving out of Colorado after living there for 50 years because of climate change and fear of fire.
+2
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ChanusHarbinger of the Spicy Rooster ApocalypseThe Flames of a Thousand Collapsed StarsRegistered Userregular
the cool thing is that i fully expect to be dead before i run out of retirement money
both sides of my family have tended to live about 20 years longer than i am projected to be able to afford so i just need to get back to drinking heavily
My financial anxiety is that I will be renting until I'm dead
All of my friends have houses now, even though the market here has an average price of almost $800,000
Most of them have partners making good money, but one is a lawyer making excellent money who bought a house solo
my roommates just bought a house with (literally) zero money down. part of me is jealous but also part of me is like- damn i'm glad i don't owe a bank 400k while i have no savings.
Isn't that very, uh, 2008ish
It is from USDA for rural housing. I looked it up. Not a private loan but government subsidized loan.
yes it's worth noting that they will be out in the boonies which i recognize is not an acceptable place to live for lots of my friends
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ChanusHarbinger of the Spicy Rooster ApocalypseThe Flames of a Thousand Collapsed StarsRegistered Userregular
i don't really care about the sigh of satisfaction, ah, this is MY place- the aspirational dream of home ownership, or whatever
but i very much would like 1) to be able to do whatever i want to a place, remodel, get whatever nice appliances i want, etc and 2) never be surprised by a landlord selling my building or rising the rent precipitously
those are the two most attractive elements to me
i have been remodeling my basement myself and it is hella satisfying
gonna put in a fuckin secret room behind a bookcase because fuck you i can
Please consider the environment before printing this post.
+11
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ChanusHarbinger of the Spicy Rooster ApocalypseThe Flames of a Thousand Collapsed StarsRegistered Userregular
Mazz is that chart speaking to free range grazing specifically?
Cause like yeah, I agree with the numbers, but shit land can also just be cut and rolled for hay bales, which feed a cow just fine.
Like I'm not disagreeing with you, but something isn't adding up in my head.
edit: The backyard homestead, a book, states that 1 acre can sustain 1 cow plus a small homestead (200sqft or more of farm area, chickens, etc) and I imagine they're doing that with hay
This is variable by state. Which is more what I was showing. East Texas is greener, has more growth and land that supports cattle. Like where you are you can probably do a cow an acre fine. But the Texas Panhandle needs a lot more because less water, less grazing, and a worse growing season.
Most of the West and the Great Plains are closer to the Pan Handle than East Texas.
I'm with you now, like how they'll have a thousand acre cattle ranch in Montana with 200 head of cattle, cause that's how shitty the water is underground through like a third of the US
Thank you! I thought I was going nuts.
Also with global warming I guess I need to get into all the shit they do in Florida because Tennessee is quickly becoming a rainforest in the summers.
Yeah global warming is going to destroy the great plains as a food producing region. Return it back to the Great American Dessert period.
Like there are pictures of a few places near where my folks currently live that when I grew up were prairie grassland but in the 1930's and 1940's they were sand dunes. And its turning back into that.
My parents are moving out of Colorado after living there for 50 years because of climate change and fear of fire.
ironic that less beef consumption would take care of that problem from both sides
Allegedly a voice of reason.
+3
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amateurhourOne day I'll be professionalhourThe woods somewhere in TennesseeRegistered Userregular
I get it sucked during the pandemic, but I really liked the story of the dude with just like a normal 401 he had saved for 20 years or so, plus his social security, and it wasn't much, like $4-$5K a month after taxes and stuff (I mean that's a lot, yes, but not millionaire retirement), and he lived on two cruise ships.
He'd just book a long term rental on two boats (one I think was the Caribbean and I forget the other) and they cut him a deal for like $3K a month, which includes food and drink plus most of the touristy stuff, and that's it. Dude was just done working, and as long as capitalism didn't fall, he'd just live on those boats till he died. (which he may have during covid, who knows)
But I always thought that was a cool alternative to an old folks home or owning property, since it's a set income that wasn't going anywhere.
I have about 100 pictures of meals I've made over the last couple years, but they're all just shit from cookbooks and I definitely did not write down any of the thoughts/tips I had on the process.
hmm how many compelling stories do you have about your nana's cooking or your trip to the french countryside
zero, but some of them include the blur of my Australian Shepard
You and I need to workshop the perfect meatball sandwich
chorizo meatballs with a habanero adobo sauce with melted Oaxaca cheese
Posts
it's fixed rate. their payment isn't going to change (except i guess they can refinance to remove PMI once they've built 20% equity). so there is the chance of them losing their income but unlike in 2008, their recurring costs aren't variable (one of the real terrors for ignorant borrowers back then)
it's here
interesting, interesting- and this is for you, porp, and your twelve kids. got it, thank you for the data point
don't forget the xbox
And she's like "I don't know if I even want to own property"
Which I absolutely get because owning a home sounds like kind of a nightmare but so does being old on a fixed income and paying rent every month and working until you're dead
I think we're fairly lucky in that I will likely inherit a house (and mortgage) from my mother, and her parents have a farm worth millions, but those things are very contingent and uncertain and I'd like my financial security not to depend on the death of multiple loved ones
other weeks I do a prime rib roast or beef wellington and that gets significantly more expensive
It is from USDA for rural housing. I looked it up. Not a private loan but government subsidized loan.
When your parents are incredibly overweight on property and reluctant to diversify, I think it makes taking a mortgage out on what seem like sky-high prices feel very risky with little upside compared to just plowing into stonks and bearing a rent which is manageable. Rents feel ceiling'd by wages and inflation so the risk of being homeless short of total long term unemployment is low? A few metros are perhaps guaranteed but the risk tolerance of buyers seems...historically high right now.
ronya please tell us a bit about your recent work experience, I'm curious (as long as this doesn't violate a forum anonymity firewall for you)
You don't have to refinance. PMI is automatically dropped at the time you are projected to reach a certain percentage, but if you achieve 20% early you can petition to have it dropped sooner and the bank has to do it.
but they're listening to every word I say
Kids in the Hall
This is variable by state. Which is more what I was showing. East Texas is greener, has more growth and land that supports cattle. Like where you are you can probably do a cow an acre fine. But the Texas Panhandle needs a lot more because less water, less grazing, and a worse growing season.
Most of the West and the Great Plains are closer to the Pan Handle than East Texas.
These are some very large cows
full series on Amazon in a week or two
Housing prices are rocketing up but I doubt they'll ever crash. And a "crash" is like... -30%, which would barely render them affordable, tbh
We pay so much in rent but we can afford it
But we don’t want to save 200 grand for a down payment lel
It’s still a little stressful because home ownership has been drilled into me as an unambiguous financial good thing
Also owning a home, especially one in nyc seems like a huge source of stress
Our apartment leaks in heavy rain and we’re just like oh wellers, not my problem
they don't do it the same way anymore
now it's structured into the life of the loan
you can still have it removed if you get to 20% equity though, which might be the better way to go as rates are probably not going to go down in the next few years
I'm with you now, like how they'll have a thousand acre cattle ranch in Montana with 200 head of cattle, cause that's how shitty the water is underground through like a third of the US
Thank you! I thought I was going nuts.
Also with global warming I guess I need to get into all the shit they do in Florida because Tennessee is quickly becoming a rainforest in the summers.
When I get back I'm making an appointment with a financial advisor I think
zero, but some of them include the blur of my Australian Shepard
You and I need to workshop the perfect meatball sandwich
2008 would be taking that house and refinancing based off it's increase in value over the last year to use as backing for a second house.
2008 was wild.
also assuming the planet is still livable in 30 years lel
but i very much would like 1) to be able to do whatever i want to a place, remodel, get whatever nice appliances i want, etc and 2) never be surprised by a landlord selling my building or rising the rent precipitously
those are the two most attractive elements to me
my house's supposed value has gone up 20% in 2 years
Yeah global warming is going to destroy the great plains as a food producing region. Return it back to the Great American Dessert period.
Like there are pictures of a few places near where my folks currently live that when I grew up were prairie grassland but in the 1930's and 1940's they were sand dunes. And its turning back into that.
My parents are moving out of Colorado after living there for 50 years because of climate change and fear of fire.
both sides of my family have tended to live about 20 years longer than i am projected to be able to afford so i just need to get back to drinking heavily
yes it's worth noting that they will be out in the boonies which i recognize is not an acceptable place to live for lots of my friends
i'm at +60% in five years
i guess i did replace the front porch steps though
i have been remodeling my basement myself and it is hella satisfying
gonna put in a fuckin secret room behind a bookcase because fuck you i can
ironic that less beef consumption would take care of that problem from both sides
He'd just book a long term rental on two boats (one I think was the Caribbean and I forget the other) and they cut him a deal for like $3K a month, which includes food and drink plus most of the touristy stuff, and that's it. Dude was just done working, and as long as capitalism didn't fall, he'd just live on those boats till he died. (which he may have during covid, who knows)
But I always thought that was a cool alternative to an old folks home or owning property, since it's a set income that wasn't going anywhere.
chorizo meatballs with a habanero adobo sauce with melted Oaxaca cheese