Replies to post #415727 on Fannie Mae (FNMA)

[navycmdr]

the argument is short term FUN vs long term SECURITY from HARD WORK ...
the entitlement generation Millennial's mantra who WANT it NOW !!

Renting "guarantees" you will be a FOREVER SLAVE to monthly RENT
and RENT Payments continually GO UP making someone else's DREAM come TRUE
with NOTHING to show for it but paper RENT RECEIPTS
same goes for LEASING a CAR FOREVER - nothing to show for it

bought my 1st Home in P'cola Fla - Brand NEW brick Home 1979 $50,000
$0 Down payment VA Loan

bought my 2nd Home in 1982 San Diego for $120,000 - 12% interest !!!!
$20,000 down payment saved so NO PMI insurance required

bought my 3rd Home in 2001 San Diego for $400,000 w SALE of 2nd Home
sold for $350,000 - now current value $800,000 over $600,000 equity
payment is $949/month - can't even "rent" for that price

now I have a "choice" - NO RENT "or" Mortgage Payment until I DIE
if I downsize to a smaller place or take a REVERSE Mortgage ... NO SLAVE HERE