“So the next place I rented was the main floor of a house, and guess who lived in the basement? The owner.”

“I used to live in a basement suite when I was in college. Fortunately it wasn’t damp or moldy, but it was too dark for my taste and I didn’t like someone living upstairs from me.
So the next place I rented was the main floor of a house, and guess who lived in the basement?
The owner.
If that’s what it takes to buy a house in Vancouver the trolls can have it.”

Legacy at VCI 21 Aug 2012 9:58am

12 responses to ““So the next place I rented was the main floor of a house, and guess who lived in the basement? The owner.”

    • Egads! Who told you about Nem’s ‘DayJob’!?… Actually, things have moved on a ‘bit’ since WOPR, Dr. J… [and soon, very soon, even the PlayStationJockeys will be just another DataPoint in InitialClaims]…

    • closer to how i remember it 🙂 … http://tinyurl.com/9bcg4lw

      • Once they get you hooked on Risk, ‘OlChub… it’s a SlipperySlope… Next thing you know… you’re AllAtSea singing, “There’sNoLifeLikeIt!”

        [NoteToEd: Every piece of WornOutKit in that clip is still in use. Sort of.]

  1. I’m surprised that no one else has posted this article from Globe investor, its been up nearly an entire day:

    http://www.theglobeandmail.com/globe-investor/personal-finance/whats-the-rush-first-time-buyers-nows-the-time-to-rent/article4493774/

  2. And the trolls will have it don’t they like the cold, damp & dark? lol

  3. My feeling is not only living in the basement, but having someone in your basement, in order to afford where you live, are BOTH, a shitty way to live. I guess this is just another way to get ahead, but it just seems so stressful all the way around having someone else in your house….!

  4. living below ground – BPOE! And to think that somebody paid nearly 700K for a basement – suckers!

  5. So what. Maybe the owner doesn’t care where he lives. While you’re paying his mortgage, he’s living for free in his basement.

    • Actually, at current rent:price ratios, he’s most certainly paying to live in his own basement, and at the same time rather than the tenant “paying the landlord’s mortgage”, the landlord is subsidizing the tenant’s use of the main-floor of his house.

  6. Okay, then his subsidizing is equivalent to what he’d pay in “rent”. In the end, he’ll own the house while the renter is still renting somewhere and continuing to pay someone’s mortgage.

    • Sally -> Thanks for the discussion.
      Would you care to give us all an example of a house in the Greater Vancouver area where the purchase price and rental numbers allow the landlord to benefit in the way you describe?

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