--- In FairfieldLife@yahoogroups.com, akasha_108 <[EMAIL PROTECTED]> 
> --- In FairfieldLife@yahoogroups.com, "jim_flanegin" 
> wrote:
> >
> > --- In FairfieldLife@yahoogroups.com, akasha_108 <[EMAIL PROTECTED]> 
> > >
> > <big snip> 
> > 
> > If one can rent the same property for 1500/mo, rather than buy 
it with
> > > a mortgage of 3000/month, the renter is saving $1500 / month. 
> > > buyer is pouring money down the drain unless home prices 
> > > But there are strong indications that that train will not be 
back in
> > > town for 5-15 years.
> > >
> > The one thing overlooked here is a measure of security after the 
> > mortgage is substantially paid off- In a rapidly developing 
area, and 
> > I know of people caught in this trap here, rentals may be 
converted to 
> > condos, or demolished for housing, leaving the renters, as 
seniors no 
> > where to go, except leave an area where they have established 
> > and costs. I understand we are all renters, but there is 
> > more control over our assets if we buy, i.e. rent money from the 
> Sure, home ownership has other non-monetry benefits. I like owning,
> and planting a garden, and being able to tear down a inside wall 
if I
> want.
> But ownership has some burdens too. Several times I had job offers 
> other areas, but moving/ selling my home etc was a big hurdle. 
> ties you to an area. 
> And i currently rent a house now. At about 25% of the cost to buy. 
> yard sprung a big leak. I was glad to have the owner deal with it.
> And sure, with the condo conversion craze -- soon to end I think 
as we
> sink in a glut of oversupply -- can force renters to move. One has
> less control as a renter. But we are in a renters market now. When
> rents are so much below mortgages, it gives renters power, -- and
> other options. Though, as you point out, it may mean moving out if 
> neighborhood.
> So there are tradeoffs. My main point is that the price apprciation
> bandwagon may be over for some time -- and that requires 
rethinking a
> lot of "conventional wisdom" and observed longtime trends.
Yep. I understand that. I was never much for 'flipping' either.

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