Posted on June 13, 2008 at 3:31 am Do you know that most Japanese don't have mortgage loans? They just can't afford it due to the skyrocketing price of their properties. I, for one, wouldn't want to live in Japan where everything is so expensive. I want to own a shelter over my head by getting a decent mortgage loan. How about you? Are your opinion the same as mine? Does you ever regret getting a mortgage loan?

Posted on June 13, 2008 at 2:32 pm Well Tokyo was ranked as one of the most expensive places to own property in the world. A million bucks there buys you a shoebox. A lot of people live with their parents longer due to the high costs, you'll also end up seeing more multi-generational homes as a result. Actually I will be moving there pretty soon for at least 6 months, maybe longer. Of course I wont be buying property. I don't currently have a mortgage, I just rent. I do want to own my own home one day though, the idea of renting forever is the pits. A home loan is one of only a couple things I would ever take out a loan for, I find it acceptable since a home, hopefully, appreciates in value.

Posted on June 14, 2008 at 2:14 am I've never regretted my mortgage for a moment. It's the roof over mine and my daughter's head. It's our home. It's not big or fancy or special - but it IS mine. I can't be evicted if a landlord decides to sell. I can paint or decorate and no one can tell me no. Yes the mortgage bites into the budget sometimes but let's be honest - if you rent, you KNOW your rent will always go up. If you pay off a mortgage, you own it.

Posted on July 24, 2008 at 11:05 pm Japan isn't the only country where owning a home is out of reach for the people living there.  My son will be leaving the nest soon, and my husband and I still do not own a home(we rent) at this point I doubt we ever will, though it would be nice. It's just not possible for a lot of people in this country either.  It's sad but true.

Posted on July 25, 2008 at 2:39 am Sadly, most average people will never own their home until near retirement age then if you get sick or need assisted living boom, you lose it. There are some advantages to renting that people overlook. Thirty years of mortgage, taxes and upkeep can be spendy depending on your circumstances, markets and personal growth.

Posted on July 25, 2008 at 9:35 am I suppose there are advantages. No mortgage, taxes or upkeep.  You don't have be concerned too much with what the housing market is doing. What I miss is that sense of permanance. Maybe that's just an assumption. Maybe permanance would really be worry and stress, and not a sense of ownership at all.

Posted on July 26, 2008 at 10:46 am advantages and disadvantages to both. I love the idea of having and owning my own home but the stress it can involve especially during difficult times is very trying. They did a study sometime back comparing the two and both came out similar cost wise. While you certainly make no money on renting you also only pay your rent...........no repairs...............no taxes.............no homeowners insurance and if you have to move suddenly...........no worries..............no foreclosure. On the other hand no permanence though you can get a lease................no choosing how the place looks..............someone dictating whether or not you can have pets or smoke...............etc. etc................always trade offs.

Posted on August 27, 2008 at 3:52 am It is really tough considering the cost of living in Japan.