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ChubbyChaser said:
I mean its possible that monthly payments will be equal to what you will pay for rent, but that doesnt take into account, upkeep, iinsurance, Down payment, etc. And if you go somewhere else for residency you might be forced to sell and depending on the market actually lose money on your investment,
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I definitely understand that it would suck to lose money on your investment... but wouldn't you still probably wind up better off than if you'd rented, seeing as the money you spend on rent is completely gone at the end of the day? Even if you wind up selling at a loss, it might be less than what you would have spent on rent for 4 years.

Just a thought... I'm definitely going to be renting, but for a lot of people I think it's a good idea (I'm probably biased being from Texas, though, where you need to buy and live for 2 years in order to gain residency, which is relevant for some people trying to gain IS tuition).
 
I'm gonna rent for at least a year, then probably look at buying. I'll be in the same area for quite a while (If I want to stay at UMC for residency, I can - the peds department caters to their own 😍) and it'll be a worthy investment.
 
GoSpursGo said:
I definitely understand that it would suck to lose money on your investment... but wouldn't you still probably wind up better off than if you'd rented, seeing as the money you spend on rent is completely gone at the end of the day? Even if you wind up selling at a loss, it might be less than what you would have spent on rent for 4 years.

Just a thought... I'm definitely going to be renting, but for a lot of people I think it's a good idea (I'm probably biased being from Texas, though, where you need to buy and live for 2 years in order to gain residency, which is relevant for some people trying to gain IS tuition).
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Payments will be slightly more than rent, but thats not the big deal. Its the other things such as upkeep and the down payment and insurance...those are huge costs. Now if i was to receive a full-tuition scholarhsip, I would probably consider buying. Just because if I decided to go elsewhere for residency the low-debt would probably allow me tthe freedom to rent out the house until the market becomes favorable and I can sell for a profit.

I just think its stupid that we got into this housing mess by urging everyone to buy a house, and even after all this **** thats taken place we are doing the exact same thing?

"Never been a better time to buy, blah blah"
 
Yeah, I have no particular wish to buy property, but if it will save me $60K in tuition then I might have to.
 
GoSpursGo said:
I definitely understand that it would suck to lose money on your investment... but wouldn't you still probably wind up better off than if you'd rented, seeing as the money you spend on rent is completely gone at the end of the day? Even if you wind up selling at a loss, it might be less than what you would have spent on rent for 4 years.
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A big problem is upkeep expenses especially if they are emergency ones (roof springs a leak ect). Med students generally don't have enough cash for a significant emergency fund. Then if you have trouble selling after you graduate you are stuck paying taxes, insurance and mortgage payments on a house you aren't using. Maybe you can rent it maybe you can't. It's a much larger risk than those "let you roomates pay your rent" brochures make it out to be. Also, the first four years of a mortage payment will be primarily interest (it's front loaded) so you will essentially have no equity after four years.

Granted in the current market it may not be as bad an idea as it was 4 years ago. But to come out on top you are still betting
on the housing market to go up at a fairly significant rate, and then that you will be able to sell in a timely manner.

In generally paying loans with other loans= very bad idea.
Edit: The topic winds me up, can't you tell?
 
An "ambassador" was there today telling us about Pennsylvania Loan Repayment. I almost chuckled because they pay up to 64,000 of total loans. 4 years, somewhere in Pennsyltucky I didn't choose, and get 1/3 to 1/4 of debt paid? No thanks.
 
If you buy AND get roomates you could mitigate losing property value when trying to sell. Also, if you do gain equity, you'll be golden.
 
Chuck's Right Foot said:
If you buy AND get roomates you could mitigate losing property value when trying to sell. Also, if you do gain equity, you'll be golden.
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Oh, I agree. I'm just saying that you are on the hook in a big way as a homeowner with no income. There's definite upside potential, but I find it concerning that the downside potential is usually ignored when this topic comes up.
 
POT... since I am not top...

Chili-pepper-plant-pot.jpg
 
funkydrmonkey said:
I would have asked what this was in reference to, but I did not want to feel normal in front of a bunch of nerds:laugh:
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Lol, what? Everyone knows that reference, funky.

Although someone said that to me in reference to the stock market, which confused me since it is, in fact, NOT over nine thousand :laugh:
 
alright craft girls and guys, do any of you know how to turn a video clip into one of those gif-y, movable avatars? please? 🙂
 
What's up ladies and gents!

Here chill'N in LA...enjoying the weather. I just bought four new pairs of jeans, two of which are straight cut. I realized I am starting to move away from the less baggy jean look, but I have no idea what kind of shoes look good with straight cut jeans.

So to ALL THE LADIES and gents who have some sense of style:

What kinds of shoes should (can) I buy to go well with my Sean Jean straight cut jeans. They have to be shoes I can wear out to a club or somewhere nice?

Thanks in advance!!!
 
I have been ready forever for the saggy pant look to go out of style. Do people not realize what that really means, in prison?
 
ChubbyChaser said:
I have been ready forever for the saggy pant look to go out of style. Do people not realize what that really means, in prison?
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...it means that the prisoner lost some weight?? 😕😕😕
 
GoSpursGo said:
In the context of the prison comment... I took this statement in completely the wrong way :laugh:
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OK, and now my parents in the next room are ACTUALLY wondering why I'm laughing at my computer.

:laugh::laugh:
 
GoSpursGo said:
In the context of the prison comment... I took this statement in completely the wrong way :laugh:
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😆

Whoa, oops, that is not what I meant...😳

I am folding up my clothes and putting them in my bag so that I can neatly transport them from my home to my apartment...
 
scarletgirl777 said:
Maybe that the prisoner is hiding a gun? (Probably not exclusive to prison 😛)
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I was thinking it was the prison diet that had him losing weight, but maybe you are right, scarlet.

Or maybe prisons don't give prisoners the right size clothing all the time.
 
hey hey hey...I wore "tastefully baggy jeans"...not the ones that were 10 sizes to large and sagging off my *****!
 
Azadre said:
I hate pants, period. The crotch is never low enough for them to fit a tall person like myself. I had to have an 'athletic cut' for my suit pants just so they'd fit correctly. This is why I usually wear 'Loose' jeans rather than straight legged.
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Thats why you gotta pick a side and let it hang my man.
 
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