What you need to know before renting a home in 2017

Couldn't disagree more about this being political and Democrats starting this and republicans just following along. I suggest you read Nouriel Roubini's book Crisis Economics. Dr Roubini is one of the foremost expoerts in the history of bubbles and the financial players who cause the issues. If you look at my state with the energy bubble bursting in 1892 and substitute any bubble since which has been larger and larger you see what financial institutions do time after time and the bubbles get larger. Ican suggest some other reading if you choose to immerse yourself in economics.

Tony 

Great information in your What You Need to Know Before Renting home.

Good luck and success.

Lou Ludwig

Tony 

Congratulations on a gold star feature for an outstanding post.

Good luck and success.

Lou Ludwig

Thankfully we are in a different place as far as the lending industry is concerned. Buying a home is, for many, the best option and less expensive. But affordability is becoming much more of a challenge (certainly here in CA!), with rising prices, low inventory and salaries that are not keeping pace!

Jeff

Congrats, Tony Lewis - this post is featured for all good reasons! Keep up the hard work.

Tony Lewis - very analytical post - and hope buyers do get it! The crash happened once, for different reasons.

The market is healthier now - and likely to remain the same for some time to come.

Hi Tony Lewis great post! You made some very good points for future potential buyers 

Good morning Tony Lewis,

Glad to see this post featured! Congratulations! Those were crazy times in the 2006-2008 market. There is still fear among renters  for many reasons, inventory is low, prices are higher and many can't afford what they want and may be moving because of lack of jobs in their area. Home ownership is a responsibility and many don't desire the commitment.

We need to see more encouragement for millenials to get in the game and not keep renting wasting money without any benefit. Good post.

When we add artificial (manipulative) dynamics to anything...woe is on its way

Two important factors was left out of the collapse situation...A serious lack of rational thinking (ie common sense) and..GREED...

Good information on renting or not.

There were a lot of Baby Boomers who lost big time in the crash and have not recovered. NAR says by 2020 about 20% of Boomers will turn to renting.

Dear Tony,

Good reasons for why folks should buy instead of renting. In our area, some people only get posted for 2 years or so, in which case renting is less of a headache. Unless they plan to stay afterwards or do not mind managing a rental long distance, of course.

I work with a lot of millenials and most tell me that they can't afford to buy a house with the features/upgrades that their rentals have.  I will keep trying my best to educate and support.  They do see things differently than my generation, but that's what makes things interesting.

Congrats on the feature, Tony.

You nailed why the markets collapsed. Too many of the financial calamities in the US have had a political component. 

The following statement was derived from a report titled "The Repeal of the Glass-Steagall Act, Myth and Reality from the Cato Institute by Oonagh McDonald, November 16, 2016, "politicians have been able to divert attention from the ultimate cause of the financial crisis, namely their belief that affordable housing can be provided by encouraging — or even obliging — banks to advance mortgages to homebuyers with low to very low incomes, and requiring government-sponsored enterprises (GSE's) to purchase an ever-increasing proportion of such loans from lenders. If politicians continue to believe that affordable housing can only be provided in that way and act accordingly, no one need look any further for the causes of the next financial crisis.

The rules as you stated were changed by the Democrats and President Clinton, however, you stated that the Republicans were also to blame for going along with the idea. The HOR was controlled by the Republicans with 223 representatives, thus less than 6 RINO's were all that was necessary to go along with the idea. Lumping Republicans as going along is disingenuous IMO.  

At the time, the HOR was controlled by the Republicans with 223 representatives, yet less than 6 RINO's were all that was necessary to go along with the idea. Lumping Republicans as going along is disingenuous IMO.  Would you punish all of your children when only a few were disobedient? 

The key IMO to increasing home ownership for first-time buyers is education about money and how money works and the consequences of making indiscreet financial decisions.

Well done...Congrats....great points even though some disagree your points are well documented....

Great Post I read this before not sure that I commented Tony Lewis if I did forgive read it again when Carol Williams  Featured it

I agree. The market is much safer now then it was and even though the values are rising, home ownership is the better way to go for most people. And there are plenty of down payment assistance programs to help those that can afford the payment but don't have enough savings for all the costs involved. Buyers need to find agents and lender that are well versed in those programs to help those buyers realize the dream of home ownership.