Comments on: Buy this house.

By: Julio Ashe

Julio Ashe — Mon, 28 Jun 2010 05:46:05 +0000

I look forward to more good info.

By: Paul

Paul — Wed, 11 Nov 2009 18:17:45 +0000

Forget the 7 million dollar house, how do I get a $500/month apartment in Manhattan? I’ll sell my house and move there this minute :D

By: vdub

vdub — Fri, 06 Nov 2009 16:56:44 +0000

Zac- not to put to fine a point on it, but your original post goes beyond opinion. sure read to me like “it’s a fact- homeowners loose money”.

The other missing point is that a home is different from all other investments- it actually gets used.

By: MarkK

MarkK — Fri, 06 Nov 2009 03:24:07 +0000

Wow! I wouldn’t give up the rent deal you’ve got for a split second! Besides, the walk between the two Villages is usually very entertaining. Now I’m pyched for an excursion. Usually drive and find a parking spot on Horatio or Jane then pickup bangers at Myers on Hudson. Yum.

By: The Original Mike

The Original Mike — Fri, 06 Nov 2009 03:02:18 +0000

Zack, we are arguing about home ownership as a way to build wealth not grammar. This is a blog, not a formal essay. I bought my house sometime ago and based on comparable sales within the last year I currently have about $150,000 in equity in my house on top of my initial down payment. $150,000 I never would have had if I hadn’t bought it. If you rent you pay all of the expenses you are still talking about, the landlord isn’t paying them, you are paying them every month plus his profit. He pays down the mortgage, builds equity and you move out with nothing and most likely without your security deposit. So I could sell, take my $150,000 tax free and stick it into a money market account, I could blow it on hookers, buy a Ferrari, travel the globe or I could apply it to my next house. Renters do not have this option

By: Julia

Julia — Fri, 06 Nov 2009 02:18:36 +0000

I agree with you, I like seeing other ponds!! It is pretty cool b/c you have the city, the suburbs, & the country all rolled into one. But, I hate to say it but Upstate NY is pretty depressed- Plus, it’s f&^king freezing!!!!!!!!!!!!

By: Matt Baumgartner

Matt Baumgartner — Fri, 06 Nov 2009 01:30:32 +0000

@ #25, I agree with you. I am not looking to leave Albany, I love it here. I just like seeing what other ponds are like from time to time.
Albany is an amazing place to live.

By: zack

zack — Fri, 06 Nov 2009 01:08:30 +0000

@24

Before you start insulting people learn how to write; it’s you’re, not your.

I expressed an opinion, if you don’t like it that’s fine. But let’s not resort to calling one another names.

It’s rude and infantile.

By: lakesider

lakesider — Fri, 06 Nov 2009 00:28:07 +0000

As one moves up the food chain you find out life presents you with choices: be a big fish in a little pond (Albany)…..or little fish in a REALLY BIG pond (NYC).

Personally I believe we make out better here, but what ever works for you….

By: The Original Mike

The Original Mike — Thu, 05 Nov 2009 20:39:55 +0000

# 20 you are stupid, you are paying the maintenance taxes etc + profit to the landlord and your getting nothing out of it. Home ownership is how 99% of people build the most wealth. your dumb, seriously.

By: The Original Mike

The Original Mike — Thu, 05 Nov 2009 20:37:52 +0000

you are rent controlled, stay put, don’t be looking at other areas.

By: peter

peter — Thu, 05 Nov 2009 19:46:20 +0000

In order to pay for the house dressed up as the Bombers Burrito making federal minimum wage without taxes being taken out you would have to work 1,062,937.06 straight hours which equals over 121 years.

By: Jeff

Jeff — Thu, 05 Nov 2009 19:38:51 +0000

#20. It’s called building equity.

Paying your own mortgage vs paying someone else’s mortgage (renting)

By: zack

zack — Thu, 05 Nov 2009 19:10:00 +0000

Homeownership as a good investment is one of the great myths perpetuated in modern society. By the time you add up all the money spent in taxes, repairs, upkeep, appliances etc., the average homebuyer LOSES thousands.

Now, you can’t put a value on the conveniences of owning a home, no noisy upstairs neighbors, freedom to paint how you like, entertaining, etc.

But the fact of the matter is, the vast majority of people (excluding those who buy homes for flipping or renting) would be far better served by renting and putting the money they would be spending on taxes and maintenance into a simple money market account or CD.

I won’t even mention the stock market, (whoops, guess I did).

If you don’t believe me, google “the myth of homeownership” and read some of the results.

By: Miss Meliss

Miss Meliss — Thu, 05 Nov 2009 19:08:39 +0000

Basically the total of the last 7 years rent that you’ve paid would be the same as ONE MONTH of the new place. I think you have answered your own question. Keep that apartment!