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HUFFPOST SUPER USER
SilentSolidarity
So what do you need? Besides a miracle.
02:24 AM on 05/01/2011
What's the red bubble in Northern Texas? I live in San Diego and they're totally right. Rent starts at $1,200 here.
01:56 AM on 05/01/2011
I think people need to truly understand ALL fees that are involved in renting a house for 30 years (because the house is NOT yours until it is paid off). Once those numbers are known, if someone believe they can afford it, then save your money and buy it. Why pay interest? If you can truly afford it, theres no need to finance. Renting does give you the option of mobility. Financing a home does not. A good book to read on the subject is Brass Knuckle Finance by Jarim Person-Lynn. Everything is explained! www.brassknucklefinance.com
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brooklyncitizen
Soror quaerens lucem
01:35 AM on 05/01/2011
Housing stock in NYC is multi-unit unless you buy a condo or co-op (which never made sense to me). THis means that the rental income will pay a significant part if not all of your mortgage. Consequently, housing costs can remain more affordable as a result of buying than if you rent.Unless you are making a bundle renting is only affordable with roomates.
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01:05 AM on 05/01/2011
How long do you plan on staying put? The analysis is useless. It doesn't address longevity. It's as if they assume everyone must move to a new locale every few years.
01:29 PM on 05/01/2011
Welcome to Caravan USA! Or are the days of 40 years and a gold watch at the end still with us?
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07:38 PM on 05/02/2011
Does it have to be one or the other? Sometime change, for better or worse, happens in gradations.
12:27 AM on 05/01/2011
The big green dot left of Chicago is LeClaire, Iowa, town population is 3765. Birth place of Buffalo Bill Cody & the Buffalo Bill Museum, the Mississippi River Distillery and the home base for the American Pickers TV Show.
Located where I-80 meets the Mississippi River. Historic, with a contemporary feel. The unique shops are simply charming. Great schools, great food and a great place to raise a family and to buy a home.
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Al91206
Educating the right on why they are wrong.
12:19 AM on 05/01/2011
San Francisco better to buy than rent??
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HUFFPOST SUPER USER
DFutureIsNow
12:42 AM on 05/01/2011
Whoever put up that graph dunno what they talking about
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HUFFPOST SUPER USER
Al91206
Educating the right on why they are wrong.
12:45 AM on 05/01/2011
Glad I'm not the only thinking "HUH?"
03:01 AM on 05/01/2011
Yeah, AI, I was wondering the same thing. The people that put the graphic together have obviously never purchased a home in the Bay Area!
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hairydodger
12:15 AM on 05/01/2011
I just found a nice 856 SF place in manhattan on 135th ST for $385,000.
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HUFFPOST SUPER USER
Al91206
Educating the right on why they are wrong.
12:46 AM on 05/01/2011
Since I live nowhere near NY - can you let us know what the typical building fees (HOA) are in a unit in Manhattan? Just curious.
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lastliberalintx
02:09 AM on 05/01/2011
Sure, but that's incredibly far north and probably not in the best of neighborhoods.
12:14 AM on 05/01/2011
At least you won't lose your home when some banksters and Wall Street thieves decide to take up a collection.
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brooklyncitizen
Soror quaerens lucem
11:34 PM on 04/30/2011
Part of the reason folks rent in NYC is that there isn't enough housing stock even if you wanted to purchase.THe islands are not getting any bigger.But the prices listed are misleading ; you can certainly purchase for less than 1.7 million. In good areas in Brooklyn you can still find real estate at $600,000 plus.

NYC has gotten crowded again.
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11:18 PM on 04/30/2011
The Chinese and other major US debt holders who will be the ones deciding who is buying and who is renting - and it's going to be a lot more renting than anyone cares to admit.
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HUFFPOST SUPER USER
rotorhead1871
who are you jivin' with that cosmic debris?...
10:41 PM on 04/30/2011
AHHHHH....renting...the shoehorn apartment.packed in like bees in a hive.....now we are just missing the landloard....the state....then the communist dream will be realized....what an outcome..enjoy your new prison...
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Realtors Are Liars
NAR is CORRUPT
10:51 PM on 04/30/2011
PropellorHead,

Upwardly mobile, educated folks tend to be on the career track and have little time or interest to be bothered with maw and paws hand-me-down run down shanty.
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HUFFPOST SUPER USER
rotorhead1871
who are you jivin' with that cosmic debris?...
11:01 PM on 04/30/2011
you will
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HUFFPOST SUPER USER
wilray
Heisendog, a golden lab
10:26 PM on 04/30/2011
Suze Orman has reversed her tune regarding home ownership.

http://abcnews.go.com/Business/suze-orman-redefines-american-dream-book-money-class/story?id=13088258
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HUFFPOST SUPER USER
Duane7
I'm left of Karl... Marx not Rove.
10:04 PM on 04/30/2011
With so many variables I doubt any such surveys. Where you live and how you make an income is the real issue. With declining incomes and increasing costs the reality is few can afford a home and even fewer have a choice. The number of homeless are growing, there is a hint there.
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Realtors Are Liars
NAR is CORRUPT
10:33 PM on 04/30/2011
Duane,

Have no doubt in your mind.... housing will become more and more affordable over the next two decades.
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gotaka
11:39 PM on 04/30/2011
i fail to see that since we are going to be in a depression for the next 20+ years.
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Absolute
Teacher and Old-School Liberal
07:26 PM on 04/30/2011
I own my home in the NYC suburbs. It's my second multiple family home and 4 generations of my family live here. With 4 working adults, and one retired adult (with a good income) it is easy to pay the mortgage, the taxes and the insurance. My area has the highest property taxes in the nation.

I see no point in owning a single family home and spending far too much of my discretionary income to pay the mortgage and energy costs, but I am fortunate that my husband, my dad, my brother and his wife like living in close proximity to each other. It's an ideal situation for us but I recognize that it wouldn't work for everyone.
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trumbull desi
If I have something pithy to say, see below
07:56 PM on 04/30/2011
I'm from a NYC suburb originally and now live in NC. My family cannot believe the difference in housing afford-ability, taxes, and insurance. And freak tornadoes aside, we have pretty decent weather most of the year!
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KidShalleen
If I'm posted, a moderator is asleep.
08:05 PM on 04/30/2011
I've lived in N.C. more than a couple of times, over the years.
Everything you've said is true, but you neglected to mention something.
Save a few specific areas, the ignorance/Evangelical level is unbearable.
Lest I forget; the cops are brown shirt devotees.
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Absolute
Teacher and Old-School Liberal
08:09 PM on 04/30/2011
One of my brothers and two of my nephews have relocated to the Charlotte, NC area. They are part of the reverse migration and they all say they'll never move back to the northeast. I have tons of friends and relatives who have permanently left the NY area. None of them plan on returning.
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Realtors Are Liars
NAR is CORRUPT
07:59 PM on 04/30/2011
I moved to the NYC subs ten years ago. I hate living here but the $$$ cannot be beat.
07:18 PM on 04/30/2011
I still think it's better to buy a home than pay rent, because at the end of it all, if you pay rent you will have no asset to call your own, and having to pay rent into your retirement is not good at all.
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Realtors Are Liars
NAR is CORRUPT
07:25 PM on 04/30/2011
Not when rental rates are half the cost of a mortgage.
08:37 PM on 04/30/2011
I'd rather rent. At my current place, the equivalent money for a one-bedroom house in my city pays for 25 years of rent. And they cover my water, yard, snow removal, repairs, trash service, controlled access doors and locked mailbox. Some places around here will even cover electric and gas, and their rent isn't any higher. Buying a house just seems like the worst investment one could make for most people in my generation.
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rotorhead1871
who are you jivin' with that cosmic debris?...
10:45 PM on 04/30/2011
and.....there goes the dream......