The Rent Is To Damn HIGH!!!

[bigvalboy]

In a few weeks, I'll be 37 so I've been a homeowner for 15 years and 12 years doing some commercial and residential property development. There are much better ways to make money than real estate. It's a good investment but not a great one. Start your own businesses and be your own boss is much for effective and really fun. Waiting for years even decades for property values to rise is tedious.

 

Wow!! Congrats...37 and a homeowner for 15 years is very impressive. I don't know the specifics of your situation however, but I would respectfully disagree with some of what you said. My experience has been much different.

[Michael Wayne]

I have to defend my new local DC market. I do NOT find the people here weird or strange at all! That is Florida...where I just left! lol............... regarding Houston: lots of clients and very few reliable escorts. All my tours there (total of 5) have been successful. The good city no one mentions is Atlanta. www.rentboy.com/magicmikey (new videos in the ad)

[+ stevenkesslar]

Over the long haul, owning property is still one of the best investments you can make, and statistically across the board in most cases...Buying young and holding, will give you more freedom and financial options as you age. IMHO

 

Very well stated BVB. Plaster that on the forehead of every escort on this site.

 

If you want to know what I can really get into a total rant about that is NOT satire it's this. Homeownership has been my life in one form or another and what you said above is simply fact. And at the risk of making it too cut and dry, if you care about any escort you hire or know, tell him to save some of his whore money to buy a house. It's possible you'll be a Broadway star or create the next Google or just franchise the next Dairy Queen. But probably not. Every study on net worth shows the same thing: middle class stability is built on home ownership.

 

I'm traveling now so I have all this on my computer at home but I think the average net worth in America today is around $75,000 or so and most of it is home equity. The age group with the highest net worth are people around 65 and their average is I think around $150,000 net worth and most of that is home equity. The only group whose average net worth is NOT based primarily on home equity is the richest 5 % or so of Americans. They are rich because of owning stocks or businesses or both. But the best odds have been, are, and will be to own a home and let time work in your favor. Which sounds very good, especially to an aging whore like me.

[+ Chris Eisenhower]

Wow!! Congrats...37 and a homeowner for 15 years is very impressive. I don't know the specifics of your situation however, but I would respectfully disagree with some of what you said. My experience has been much different.

 

I've managed to stay out of jail for six months now. Where's MY congratulations?

 

I may just go commit recidivcidividividism out of spite.

[bigvalboy]

Very well stated BVB. Plaster that on the forehead of every escort on this site.

 

If you want to know what I can really get into a total rant about that is NOT satire it's this. Homeownership has been my life in one form or another and what you said above is simply fact. And at the risk of making it too cut and dry, if you care about any escort you hire or know, tell him to save some of his whore money to buy a house. It's possible you'll be a Broadway star or create the next Google or just franchise the next Dairy Queen. But probably not. Every study on net worth shows the same thing: middle class stability is built on home ownership.

 

I'm traveling now so I have all this on my computer at home but I think the average net worth in America today is around $75,000 or so and most of it is home equity. The age group with the highest net worth are people around 65 and their average is I think around $150,000 net worth and most of that is home equity. The only group whose average net worth is NOT based primarily on home equity is the richest 5 % or so of Americans. They are rich because of owning stocks or businesses or both. But the best odds have been, are, and will be to own a home and let time work in your favor. Which sounds very good, especially to an aging whore like me.

 

I've always have said that money doesn't buy happiness, but it does buy you options. Sadly far too many seniors have mismanaged their largest asset. Owning property is tricky business, and it is not for the faint of heart. I think you have to detach yourself emotionally, and look at your property purely as an asset to be used to build wealth. (stepping of my soap box now)

[+ stevenkesslar]

I've managed to stay out of jail for six months now. Where's MY congratulations?

 

Chris, darling, we don't congratulate people like you. We call you a pathetic fucking loser, behind your back.

 

And I have managed to meet Eisenhower, dine with him, dance with him, converse with him, and even had him wandering around my house and laying on my bed. And yet, through it all, I have still managed to keep the whore's cock out of my ass. For several years now. Do I get an award for that?

[bigvalboy]

I've managed to stay out of jail for six months now. Where's MY congratulations?

Too bad...I've always had this prison fantasy...

[Irtwo]

Escort business is apparently very good in Texas. If you do choose that state, either Dallas or Austin would be good. By the way, Houston has had an openly gay mayor since 2010.

[+ Chris Eisenhower]

Chris, darling, we don't congratulate people like you. We call you a pathetic fucking loser, behind your back.

 

And I have managed to meet Eisenhower, dine with him, dance with him, converse with him, and even had him wandering around my house and laying on my bed. And I have still managed to keep the whore's cock out of my ass. For several years now. Do I get an award for that?

 

I didn't lie on your bed. I crouched on my knees at the foot of it.

[+ Charlie]

The two best financial moves I ever made were:

1) buy an abandoned old house in an inner city neighborhood, with my partner, when I was 28, and renovate it with our own hands; sell it when the neighborhood had become completely gentrified, and start the process again, buying a new house that didn't need any work, and when we retired (after increasingly valuable homes), we could downsize and put money in the bank;

2) invest 5% of every paycheck in a retirement account, starting when I was 24, so that I could retire comfortably at 59, even though I never had a high-paying job (to be honest, it was my wise employer who insisted that I do this, for which I am very grateful).

[Frequentflier]

1. Owning real estate is not the most important objective, regardless of home builders and politicians who support low or no down payments options say.

2. The most important thing people can do financially is have a substantial cash reserve, rainy/hailing/snowing day/month/year fund.

3. Once people have #2, if they have a 20% plus down payment, and want to stop paying rent, they should buy during a buyers market and have the discipline not to buy in a sellers market even if they have 20% to put down. Prior to 2008, many markets were overheated and people both ignored the frenzy of buying and they leveraged themselves with no cash reserve - they lost their homes when the banksters tanked the economy and millions lost their jobs.

4. Make sure, if you buy, that you will maintain your property (periodic painting, remodeling, etc.) and handle the inevitable repairs that come up. And know that values can go down and you're better off (most of the time) holding on and not selling at a loss - the market will recover.

5. If someone doesn't want to own but prefers to have an uber healthy reserve fund, good for them and they shouldn't feel pressure from friends or board members to become owners.

6. Owning has worked for me because I followed the above advice. If I wasn't absolutely sure about the value of what I was buying, I passed. There were times where all I heard about from friends was buying and flipping successes and I should dive in - I often sat with money in the bank for a less frothy market. Don't yield to peer pressure. A nice six or seven figure reserve fund is just as impressive as one or more properties - do what you're comfortable with. Some people have higher reserves they call F off money. They have enough that if they don't like a job, location, relationship or whatever they can bail to anywhere they want.

[Frequentflier]

The two best financial moves I ever made were:

1) buy an abandoned old house in an inner city neighborhood, with my partner, when I was 28, and renovate it with our own hands; sell it when the neighborhood had become completely gentrified, and start the process again, buying a new house that didn't need any work, and when we retired (after increasingly valuable homes), we could downsize and put money in the bank;

2) invest 5% of every paycheck in a retirement account, starting when I was 24, so that I could retire comfortably at 59, even though I never had a high-paying job (to be honest, it was my wise employer who insisted that I do this, for which I am very grateful).

 

I'm really impressed with #2. Good for you and that's what all of us should have done and perhaps many on this site did. I'm not bad off but I'll admit I didn't do as you did in this regard.

[rvwnsd]

...My suggestion, make your money in Chicago, buy a property in Peoria, and move there when you retire.

 

You don't want to live in Illinois outside of metro Chicago. You just don't. However, making your money in Chicago and buying a place in Madison, WI would be smart. Madison is a lovely small city, LGBT friendly, and would not be a bad place to retire to.

[instudiocity]

Escort business is apparently very good in Texas. If you do choose that state, either Dallas or Austin would be good. By the way, Houston has had an openly gay mayor since 2010.

Houston is where all my gay friends moved to in the 1980's. They're still there, for the most part, jealous of NYC's Rentboy listings.!

[Guest Wetnwildbear]

The other plus to Texas is no state income tax.

 

 

The downside is Texas is one of the most-antigay states in the nation when it comes to legal rights. I have been to Austin and

Dallas Yeeee-Yawn!

 

Also in Texas you can still kill a man/fag and get away with it --- Because some folk just need killin!

 

I wish you well guys -

[instudiocity]

The downside is Texas is one of the most-antigay states in the nation when it comes to legal rights. I have been to Austin and

Dallas Yeeee-Yawn!

 

Also in Texas you can still kill a man/fag and get away with it --- Because some folk just need killin!

 

I wish you well guys -

What? All these gay guys posting from Texas are ripe for the killing?????

 

Just how do you spell STEREOTYPE???

 

Psst, maybe your bigotry is showing. One doesn't have to live in Texas to get killed for propositioning a gay hater.

[Guest ChrisW]

A friend just posted this on FB and gives a pretty interesting insight into how rent has changed in Seattle.

 

http://kuow.org/post/rent-too-high-compare-seattle-s-neighborhoods

[+ ArVaGuy]

1. Owning real estate is not the most important objective, regardless of home builders and politicians who support low or no down payments options say.

2. The most important thing people can do financially is have a substantial cash reserve, rainy/hailing/snowing day/month/year fund.

 

Back in 2006, I was contemplating using an inheritance to buy a condominium in DC. I felt the pressure like many of us that I needed to own a home. Many of my peers at work and friends were snapping up houses and condominiums from coast to coast.

 

I asked a close friend his advice, he has a PhD in economics, worked at the U.S. Treasury Department, and sold real estate on the side. His strong advice then was under no circumstances should I buy real estate at the time. He had forecasted a major correction in the real estate market. Told me I'd be better off continuing to rent.

 

This was not exactly what I wanted to hear. So I contacted a mutual friend who sold real estate in Southern California. He'd been in the business for over 35 years and sold a number of trophy properties. Few will believe this but he advised not to buy either. He saw an overheated market that was unsustainable. After closing on a $28 million sale, he sold his agency and retired to San Diego with his partner.

 

So I continue to rent my apartment which is below market rate as I've lived here a pretty long time. I hired a financial adviser and invested the inheritance navigating the worst of 2008, 09, and 10. Reviewing my current assets with my accountant this year he said the wisest decision I made was not purchasing a condominium nine years ago. I'm in better shape with fewer burdens that tie one down as ownership creates. Should I lose my job tomorrow, I can quickly reduce my overhead by moving to less expensive living arrangements. There are no obstacles to giving a 30 day notice, packing up and moving to a better market with more opportunities. Like Texas, for example. Try that with a mortgage obligation over one's head, not so easy.

 

A number of those friends and colleagues who bought into the hype wound up losing those overpriced units they purchased. Some resulted in bankruptcy, others were so underwater on the mortgages the strains led to break ups in relationships.

 

So, I have no regrets not buying an overpriced home in an expensive housing market at all. It's important not to buy into the hype, analyze what's best for your personal circumstances. Hire certified financial advisers and plan for retirement. If ownership makes sense then do it, but weigh the pros and cons carefully. It also helps to have real estate professionals who will give the unvarnished truth about the market rather than close a sale. In that regard I was very fortunate.

 

Oh, BTW, my economist friend predicts another correction in the market. The federal government is encouraging the exact same policy and practices that caused the 2008 crash all over again. The so called reforms passed after 2008 are insufficient and long term will not prevent another crisis.

[Guest Starbuck]

I don't think of Pittsburgh as a Midwestern city, and wouldn't have thought of it if someone else hadn't mentioned it, but it's probably worth considering.

 

Chris, there's a lot on your "wish list," so I know you realize that no city is going to perfectly meet all your criteria. Going to a "big market" city comes with a high cost of living. The case for that choice has already been made, and perhaps some of the cost would be offset by the time and money savings of not needing to travel as often for work.

 

But it sounds like the high cost of housing is your main motivation for leaving Seattle, and Pittsburgh, in contrast, is a surprisingly affordable city. (Many articles about this; just Google.) My daughter and son-in-law were able to buy a beautiful 3-bedroom home in a great neighborhood when they were just a year out of grad school (after renting a nice place in the Shadyside neighborhood for what seemed to me a very reasonable rate). Because they are there, I've been visiting a few times a year and have found MUCH TO DO and LOTS TO LIKE about the city.

 

There are good universities, so I believe that one of your essential requirements is easily met. And although I know little about mass transit in Pittsburgh, there is a light rail system that runs through downtown and out to suburban parts of the city.

 

Now, is it a major market for escorts? No. That's the biggest downside. But from what you have said about Seattle, maybe it's no worse. On the upside, there are direct, affordable, short duration flights to many East Coast and Midwest cities, so I would think that traveling for work with Pittsburgh as your hub would be easier, quicker and less expensive than your current circumstance.

 

Good luck with your decision. As a fellow who could happily live in the Pacific Northwest, I can appreciate that it will be hard to leave.

[+ stevenkesslar]

I didn't lie on your bed. I crouched on my knees at the foot of it.

 

Oh, I forgot. Is that when you possibly sucked my penis while I was asleep?

[+ stevenkesslar]

Texas really IS amazing. Its the people that make it a joy. Everyone is kind, courteous and doesn't cancel or reschedule.

 

Of course, Killian. Mostly that's because I don't live there.

 

The only really good book I ever read on escorting was Hustlers, Porn Stars and Escorts by Matt Adams. He claimed the best clients come from Texs and the worst from LA. It sounded bigoted at first but after 15 years I'd say there's some truth to it. Nobody from Texas ever flaked on me, whereas I just factored in that if I made an appointment with an LA guy there was a small chance of WeHo drama and cancellation.

 

I'm a Democrat but even I'd say Perry did a decent job as Governir on the basics. Lots of jobs and affordable housing, which is why so many people move to Texas. It's the economy, stupid.

 

As an organizer, the worst thing I can say about Texas is they always seem to find a way to do things BIG and wrong. George W, Bush. Enron. The S& L bailout in the 80's. Now that I'm a whore, I don't have to worry my pretty little head about it.

 

Besides, Houston is at the bottom of Texas. Shouldn't that make you right at home there?

[+ WmClarke]

I'm a Democrat but even I'd say Perry did a decent job as Governir on the basics. Lots of jobs and affordable housing, which is why so many people move to Texas. It's the economy, stupid.

Seriously? He's run up the debt (like all modern Republicans do). TX debt was 13.4 billion $ in 2001; it ballooned to 37.8 billion $ by 2012.

 

His business grants (over 400 million $) basically went to political contributors.

 

If you factor in voting rights, K12 education, and women's rights then he is a complete failure. And he thinks homosexuality is like alcoholism.

[Rudynate]

Any whore smart enough and entrepreneurial enough to build a client base ought to be smart enough to figure out how to fib on a mortgage loan application and buy a ho

 

That's not so easy anymore. "No docs" loans are pretty much a thing of the past. Lenders now require piles of documentation.

[anotherjohnindupont]

Texas really IS amazing. Its the people that make it a joy. Everyone is kind, courteous and doesn't cancel or reschedule.

 

Do you think New Yorkers are rude?

[ZhenXBear]

Texas really IS amazing. Its the people that make it a joy. Everyone is kind, courteous and doesn't cancel or reschedule.

 

That's definitely a consideration, Killian. After living in the SE for several years, I must say that California has been....an adjustment for me. So strange to walk down a semi-empty sidewalk where people look down at their feet instead of smile at you.