Neighbors from hell?

Apparently, here in the UK, 65% of people own their house. I didn't think it would be that high. Ten years ago it was over 70%! I assume everyone on Mayfield Place own their house? (Well, except the Klopeks, who apparently just took theirs.)

In Sweden this is roughly 45 to 50%.

BUT, that said - not everyone OWNS their homes in reality, very few have the REAL numbers on REAL home owners, only the banks knows peoples little dirty secrets.

By dirty secret I am thinking of Bank Owned homes.

If you have a house and have borrowed more than 49% of your homes actual value today...then the BANK theoretically owns your home because you MUST pay a MORTGAGE.

And a MORTGAGE in my humble opinion is just a nice word for RENT.

(I don't rent - I own, ha! So there you have it neighbor, my home is actually entirely MINE mwhahahahahaha!)

When I was at work, I asked how many owned their own home, everyone yelled MEEEEEEE (them!), and then I asked each individual how MUCH THEY OWE THE BANK...

One of them had borrowed MORE MONEY than the HOUSE WAS WORTH! And he STILL believes (in his world) that he owns his own home.

Another one felt kind of cool for owning a multi-million mansion, turns out she owes most of the worth to the bank too, she excused herself by pointing out that she pays her "bills" like a good girl and don't really see this as an issue.

he he he...I feel kind of smug now, although I don't own a house worth millions, not even close to a million, it's MINE and ALL paid for.

quote:JoOngle wrote:

In Sweden this is roughly 45 to 50%.

BUT, that said - not everyone OWNS their homes in reality, very few have the REAL numbers on REAL home owners, only the banks knows peoples little dirty secrets.

By dirty secret I am thinking of Bank Owned homes.

If you have a house and have borrowed more than 49% of your homes actual value today...then the BANK theoretically owns your home because you MUST pay a MORTGAGE.

And a MORTGAGE in my humble opinion is just a nice word for RENT.

(I don't rent - I own, ha! So there you have it neighbor, my home is actually entirely MINE mwhahahahahaha!)

When I was at work, I asked how many owned their own home, everyone yelled MEEEEEEE (them!), and then I asked each individual how MUCH THEY OWE THE BANK...

One of them had borrowed MORE MONEY than the HOUSE WAS WORTH! And he STILL believes (in his world) that he owns his own home.

Another one felt kind of cool for owning a multi-million mansion, turns out she owes most of the worth to the bank too, she excused herself by pointing out that she pays her "bills" like a good girl and don't really see this as an issue.

he he he...I feel kind of smug now, although I don't own a house worth millions, not even close to a million, it's MINE and ALL paid for.



I understand what you mean about not owning your house if you have a mortgage. But I still consider anyone who is making their mortgage payments to be a homeowner. They are certainly in a different category to someone who rents, because when you rent you'll never have anything for your money long term. While the owner will one day have a very large asset.

Having said all that, I don't like the whole concept of a 25 year mortage either. They always scared me to death. That's probably why I rented my entire life, and only now at the age of 35 am I about to own my own home because I can buy the house without a mortage.

quote:Kris Klopek wrote:

quote:JoOngle wrote:

In Sweden this is roughly 45 to 50%.

BUT, that said - not everyone OWNS their homes in reality, very few have the REAL numbers on REAL home owners, only the banks knows peoples little dirty secrets.

By dirty secret I am thinking of Bank Owned homes.

If you have a house and have borrowed more than 49% of your homes actual value today...then the BANK theoretically owns your home because you MUST pay a MORTGAGE.

And a MORTGAGE in my humble opinion is just a nice word for RENT.

(I don't rent - I own, ha! So there you have it neighbor, my home is actually entirely MINE mwhahahahahaha!)

When I was at work, I asked how many owned their own home, everyone yelled MEEEEEEE (them!), and then I asked each individual how MUCH THEY OWE THE BANK...

One of them had borrowed MORE MONEY than the HOUSE WAS WORTH! And he STILL believes (in his world) that he owns his own home.

Another one felt kind of cool for owning a multi-million mansion, turns out she owes most of the worth to the bank too, she excused herself by pointing out that she pays her "bills" like a good girl and don't really see this as an issue.

he he he...I feel kind of smug now, although I don't own a house worth millions, not even close to a million, it's MINE and ALL paid for.



I understand what you mean about not owning your house if you have a mortgage. But I still consider anyone who is making their mortgage payments to be a homeowner. They are certainly in a different category to someone who rents, because when you rent you'll never have anything for your money long term. While the owner will one day have a very large asset.

Having said all that, I don't like the whole concept of a 25 year mortage either. They always scared me to death. That's probably why I rented my entire life, and only now at the age of 35 am I about to own my own home because I can buy the house without a mortage.

I'd rather say those who pay mortgages are future homeowners. If we look back at the financial crisis erupting in 2008 and still raging today (just a little more underneath the surface) this is where it all came from. And many of those people who couldn't pay their mortgages anymore lost their homes. Because in actuality they have never been real homeowners.

I also live for rent because I don't like the concept of a 25 year mortgage. However, I might be paying my rent for more than 25 years so it's a quite paradox situation. But to be honest, I like the concept of renting. It makes me more flexible. If I had to take a job far away I'd have to rent it to somebody else and so on. And once you really completely own it doesn't mean the expenses stop. You might not be paying mortgage anymore but a house still costs you money. Many elder people underestimate this. They are buying a home so they can live rent-free once they retire. However, the costs of the house may still reduce a huge portion of your penison.

Certainly,

but it's (for me) a too huge risk to take, that's why I chose to live in the Suburbs near the countryside simply because I could afford to purchase a house outright.

If I chose to live in the suburbs near a BIG city, then It'd cost me 25-30 years of mortgages and savings + my entire existing house JUST as a DOWNPAYMENT for the first payment, and to think it's only ONE HOUR DRIVE away! (or by train anyway).

The difference is MILLIONS here in Sweden, one hour drive...and you'll pay for the rest of your life, one hour away, and you'll live scot-free as long as you want without any mortgages (guess who enjoys every dime then?! )

People are crazy, they'll get married, feel secure that they'll stick with their loved one for the rest of their life, and keep their job for the rest of their life. The wife tells them to purchase a home near by the big city, because they want to PARTY and have rich neighbors (which they never admit is rich...it's just normal to them)...but the truth is...can you afford a multi-million home, then you're rich - period. Or if you take up a LOAN for it...then...well...you're naive IMHO.

No one that I knew of ever kept their house for more than 5 years in those expensive area, basically because today...no one manage to keep their jobs for life...nevermind keeping their wife happy for 30 years...won't happen!

Me? I've lived in my house for 4 years straight now, jobless at the moment...haven't had a decent job for nearly 2 years, but I had saved up money + took some subsitute teaching jobs on the side here and there...

...plus I get NO DOLE money or ANY money from the Government for being unemployed, I probably could...but I chose to live independently from the entire system. It's kind of cool actually, not being dependent on others.

If I purchased a home near the big city (which would require a loan and hefty downpayments and a steady job), I'd be broke today, and homeless. I just made a choice that was smarter for me.

And because of it, I'm completely free...regardless of jobs and peoples opinions...none of which affects me that my fellow suburbian friends - is TRUE freedom.

quote:JoOngle wrote:

Certainly,

but it's (for me) a too huge risk to take, that's why I chose to live in the Suburbs near the countryside simply because I could afford to purchase a house outright.

If I chose to live in the suburbs near a BIG city, then It'd cost me 25-30 years of mortgages and savings + my entire existing house JUST as a DOWNPAYMENT for the first payment, and to think it's only ONE HOUR DRIVE away! (or by train anyway).

The difference is MILLIONS here in Sweden, one hour drive...and you'll pay for the rest of your life, one hour away, and you'll live scot-free as long as you want without any mortgages (guess who enjoys every dime then?! )

People are crazy, they'll get married, feel secure that they'll stick with their loved one for the rest of their life, and keep their job for the rest of their life. The wife tells them to purchase a home near by the big city, because they want to PARTY and have rich neighbors (which they never admit is rich...it's just normal to them)...but the truth is...can you afford a multi-million home, then you're rich - period. Or if you take up a LOAN for it...then...well...you're naive IMHO.

No one that I knew of ever kept their house for more than 5 years in those expensive area, basically because today...no one manage to keep their jobs for life...nevermind keeping their wife happy for 30 years...won't happen!

Me? I've lived in my house for 4 years straight now, jobless at the moment...haven't had a decent job for nearly 2 years, but I had saved up money + took some subsitute teaching jobs on the side here and there...

...plus I get NO DOLE money or ANY money from the Government for being unemployed, I probably could...but I chose to live independently from the entire system. It's kind of cool actually, not being dependent on others.

If I purchased a home near the big city (which would require a loan and hefty downpayments and a steady job), I'd be broke today, and homeless. I just made a choice that was smarter for me.

And because of it, I'm completely free...regardless of jobs and peoples opinions...none of which affects me that my fellow suburbian friends - is TRUE freedom.



Yeah, you live quite an independant life and it looks as if it was the absolute right decision to buy that house which is a little further away from the big city. However (just wondering and I hope it doesn't become too private here) what does it feel like when every month your stock of money kind of reduces and diminishes? I mean one day all the savings must be spent or am I wrong? You seem to be dealing with it in an easy-going way which I absolutely respect because I'm the total opposite, constantly racking my head about the most insignificant things which certainly isn't quite healthy in the long term

BTW one question: What are you all doing for a living? Mr. Peterson here is working in a HR department as a personnel specialist in a consultancy firm.

quote:RayPeterson wrote:

BTW one question: What are you all doing for a living? Mr. Peterson here is working in a HR department as a personnel specialist in a consultancy firm.



Wow, I'm always impressed by jobs I don't understand I'm a writer.

I work in the financial sector as a software developer. My department handles the software for stock and bond trading.

quote:Kris Klopek wrote:

quote:RayPeterson wrote:

BTW one question: What are you all doing for a living? Mr. Peterson here is working in a HR department as a personnel specialist in a consultancy firm.



Wow, I'm always impressed by jobs I don't understand I'm a writer.



 

That's the kind of stuff I'm dealing with every day: http://targetjobs.co.uk/careers-advice/job-descriptions/276297-personnel-officer-job-description

And what kind of stuff do you write? Theory and Practice of Demonology?

quote:RayPeterson wrote:

BTW one question: What are you all doing for a living? Mr. Peterson here is working in a HR department as a personnel specialist in a consultancy firm.

I'm currently a student, but I plan to be a grade school teacher.

quote:DemonPrincess wrote:

quote:RayPeterson wrote:

BTW one question: What are you all doing for a living? Mr. Peterson here is working in a HR department as a personnel specialist in a consultancy firm.

I'm currently a student, but I plan to be a grade school teacher.

I would really love it if it was 3rd grade and you had them all reading Dracula

Finally a close on the Fat Freddy story I posted like eight years ago. They tore his house down! Now it's an empty lot.