TRIP REPORT - Ed Miller's Queer Eye screening party

[bnorthro]

I watched this today (Tivo) and I got one big question... Why the F is Ed Miller, "Noted Poker Authority" living in some ghetto a$$ apartment complex? Shouldn't he be rolling in the dough, or at least be able to afford a house? It can't be that expensive to live in Henderson...

[Tron]

Ed Miller, "Noted Poker Authority," demonstrates financial responsibility; you should be taking notes.

[bnorthro]

Whatever, isn't owning more financially responsible than renting?

(I'm assuming he's renting - typically in large complexes like that you rent, not own)

[edfurlong]

[ QUOTE ]
Whatever, isn't owning more financially responsible than renting?

(I'm assuming he's renting - typically in large complexes like that you rent, not own)

[/ QUOTE ]

Who cares? Maybe they aren't sure if they want to stay in the area. There are quite a few good reasons to rent, I suspect they've thought it over.

[Tron]

[ QUOTE ]
Whatever, isn't owning more financially responsible than renting?

(I'm assuming he's renting - typically in large complexes like that you rent, not own)

[/ QUOTE ]

Ed and Elaine actually comment on this toward the end of the thread on the same subject in NVG; they said that they are saving mad stacks of cash and that they are renting because they want to travel the world and will buy when they feel ready to settle down, HOLLA

[bnorthro]

[ QUOTE ]
[ QUOTE ]
Whatever, isn't owning more financially responsible than renting?

(I'm assuming he's renting - typically in large complexes like that you rent, not own)

[/ QUOTE ]

Ed and Elaine actually comment on this toward the end of the thread on the same subject in NVG; they said that they are saving mad stacks of cash and that they are renting because they want to travel the world and will buy when they feel ready to settle down, HOLLA

[/ QUOTE ]

I figured it was something along those lines. Just figured he'd have a house - that place looked like an apartment I lived in while interning in Palmdale...

[Tron]

Think about it this way, though: The Queer Eyes probably wouldn't be helping Ed out if he were big pimpin' MTV Cribs-style.

[bnorthro]

Word.

I remember watching Queer Eye a long time ago, like when it first started. Have these guys gotten WAY more flaming? They seemed ultra over the top, when at the beginning they just seemed a little queer. I'm not homophobic or anything like that, they were just obnoxious

[Ed Miller]

[ QUOTE ]
Whatever, isn't owning more financially responsible than renting?

[/ QUOTE ]

Not necessarily. It depends on the current real estate market and how the price of renting compares to the price of owning.

Owning also incurs significant fees... commissions, transaction fees, taxes, etc, which tend to be a fixed percentage of the price of the home (that is, the up front and back end costs are typically significantly greater than the recurring costs). That fee structure punishes quick turnover.

Bottom line is that owning tends to make sense (financially) if you plan to be somewhere for a long time, and renting tends to make sense if you plan to move within two years (and sell the property).

Real estate prices in the Vegas area are also currently bloated with respect to rents (for instance, a $300,000 house with about a $2,000 monthly mortgage and tax payment rents for maybe $1,200). So that also tips things in favor of renting.

Bottom line is, if Elaine and I planned to be in Vegas for five or more years, we'd buy a house. In fact, up until recently, that was our plan, and we were house hunting. But we changed our minds, decided we wanted to travel, and aborted the hunt.

In retrospect, I do wish that when we got married we'd have rented a house for a few hundred a month more rather than rented this apartment. Not that I hate the apartment or anything... it's in a nice neighborhood, and it's conveniently located to places we like to go. But we want a dog, and a house would have been better for that.