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I guess I’m on an architecture jag because by the likes of it, I will never own a home.

Therefore, as a permanent lodger, I get to laugh at the follies of those who have the joys of ownership.

Alexandra Bruce

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  • Well, these designs were always rather pretentious of course – European looking American houses! Still, I think she is nitpicking about the design aspects.

    However, when it comes to owning a house or apartment, I learnt that the first property one owns should not be the one you’re going to live in. That would be a total waste of money! The first one(s) should be rented out that bring in profit before you actually decide to afford to live in a house/apartment of your own.

    Just my two sense.

  • Personally, I’ve owned and ‘lodged’.
    I’ll never own again, regardless of income, interest rates or home values, except of course if something decent is available at a nickle or dime on the dollar.
    I’ve owned new unlived in previously, so no pick-up repair expences etc and found that the time needed to dwell in ownership drives one batty.
    Not just the monthly mortgage, taxes, assessments, landscape, repairs, replacements, refinishes et al, but one must be ready to make the entire bundle one’s ‘hobby’ as the time and money needed is far more than one is ever willing to provide on a continual basis.
    Leave the headaches to the rentier and stash the cash difference in whatever floats your boat, be it investing, travel, entertainment, boats n toys, philately (hobbies) or just sitting around.
    Remember, very very few folks ever own and most do not realize that the first 10 or more years of payments goes to interest and not principle.

    • uh, own ‘outright’ as in posessing the deed and having only all the other inflation sensitive expenses.

  • I’m currently checking in regularly with Mike Maloney’s website. Here’s something interesting he has to say about real estate value in comparison with gold. It looks like gold investors will be well positioned to buy real estate if and when the dollar falls. Not nice to think about benefitting from the collapse but as you’ve said before it’s all about educating yourself and anyone else who you can get through to also.
    https://m.youtube.com/watch?v=lOiQgC8Q9Ck

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