Aesop on Renters rationalizing the decision not to buy
Started by Riversider
over 16 years ago
Posts: 13572
Member since: Apr 2009
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It was a very hot and sunny afternoon. A fox, which had been hunting the whole day, was very thirsty. "How I wish there was some water," the fox thought to himself. Just then, he saw bunches of fat and juicy grapes hanging from a vine above his head. The grapes looked ripe and ready to burst with juice. "Oh, my! Oh, my!" the fox said as his mouth began to water. "Sweet grape juice, quench my... [more]
It was a very hot and sunny afternoon. A fox, which had been hunting the whole day, was very thirsty.
"How I wish there was some water," the fox thought to himself.
Just then, he saw bunches of fat and juicy grapes hanging from a vine above his head. The grapes looked ripe and ready to burst with juice.
"Oh, my! Oh, my!" the fox said as his mouth began to water. "Sweet grape juice, quench my thirst!"
The fox stood on tiptoe and stretched as high as he could, but the grapes were out of his reach.
Not about to give up, the fox walked back a short distance and took a running leap at the grapes. Again, he could not reach the grapes.
Still not ready to give up, the fox walked back further and took another running leap at the grapes. Again, he could not reach the grapes.
The fox jumped and leapt, again and again, but each time he could not reach the grapes. Until, at last, the fox was tired and thirstier than ever.
"What a fool I am!" said the fox furiously. "These grapes are sour and not fit for eating. Why would I want them anyway?"
With that, the fox walked away.
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Response by Riversider
over 16 years ago
Posts: 13572
Member since: Apr 2009
Some people despise and belittle the things they cannot have.
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Response by alanhart
over 16 years ago
Posts: 12397
Member since: Feb 2007
You forgot the ending ... the fox takes ten steps and winds up at a cool mineral spring, with all the refreshing water he could ever want, and no hassle ... and he could be sure that in several months, he wouldn't be left with far fewer grapes.
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Response by ph41
over 16 years ago
Posts: 3390
Member since: Feb 2008
Riversider - you had better watch your back now because aboutready is sure to come after you, spouting expletives.
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Response by mmarquez110
over 16 years ago
Posts: 405
Member since: May 2009
This is how the ending should go:
"What a fool I am!" said the fox furiously. "These grapes are sour and not fit for eating. Why would I want them anyway?"
With that, the fox started walking away. Suddenly, an owl landed on the branch the vines were wrapped around, pushing the grapes lower, within the fox's reach. However, the fox had already made up his mind about the sour grapes and was considering looking for fruit in Westchester.
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Response by Jazzman
over 16 years ago
Posts: 781
Member since: Feb 2009
"Some people despise and belittle the things they cannot have."
Agreed but others are grateful that even though they could have afforded to buy they have been smart enough to sit on the sidelines over the last couple of years.
Clearly many move to the city without the economic means to buy. As their fiscal situation improves eventually some get the means. Each year a certain group of people finally get the savings and income needed to buy a place they would be willing to own. It's these first time buyers of NYC apartments that have been most wise in not pulling the trigger over the last couple of years and it is these buyers who will remain wise if they continue to rent.
It's simply foolish to think that all renters rent because they can't afford to buy otherwise we'd have significantly fewer first time buyers. Personally I'm proud to be a renter. It shows a level of prudence and an ability to forecast our real estate market. Not until 2006 could I have afforded a reasonable apartment in a neighborhood I would be willing to live in. So clearly my decision to rent has been wise. At the top of the market I was taking the heat from my friends (and wife) about how unwise we were to rent, but now it's clear that financially we are in a much better position now because we chose to rent.
We go lower from here.
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Response by stevejhx
over 16 years ago
Posts: 12656
Member since: Feb 2008
Did Aesop have a new-dev condominium? I missed that part of the tale.
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Response by drdrd
over 16 years ago
Posts: 1905
Member since: Apr 2007
And with patience, that foxy fox will soon have sweet yummy raisins. Sweet dreams, children.
well, the buyer's version of this is that the fox never gives up -
his friends tell him there are better grapes, cheaper in the store round the corner, but the fox HAS to have the ones high up on the vine
so after many trials, he jumps off from a taller tree trying to get at the grapes and breaks his bones
he finally gets one tiny grape, but is happy that he found HIS OWN grape, that helps him overcome all his inadequacies, and is convinced that people will FINALLY respect him now
the end
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Response by stevejhx
over 16 years ago
Posts: 12656
Member since: Feb 2008
Foxes can climb trees, so I don't know why they can't climb arbors. Or just wait for the goddamned grapes to fall like everybody else.
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Response by Riversider
over 16 years ago
Posts: 13572
Member since: Apr 2009
funny, reminds me of catching salmon after they swim up the river and lay their eggs...
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Response by manhattanfox
over 16 years ago
Posts: 1275
Member since: Sep 2007
Then the clever (manhattan)fox said..."I am so glad I sold those grapes at the top of the market. Who would be so dumb to pay 2x the 2002 level? Now I can afford to buy twice as many grapes when they are ripe once again. In the meantime, I can hang out by the stream and relax. All of those farmers seem so pissed that they are stuck with SOUR GRAPES...."
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Response by ChasingWamus
over 16 years ago
Posts: 309
Member since: Dec 2008
I am reminded of the Uncle Remus story about Buy'r Rabbit and the Tar Condo.
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Response by Riversider
over 16 years ago
Posts: 13572
Member since: Apr 2009
Thanks for the feedback all. A great piece on Cognitive Dissonance.
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Response by ph41
over 16 years ago
Posts: 3390
Member since: Feb 2008
riversider - now ask them all if they know what "cognitive dissonance" means (and yes, I know what it means)
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Response by cliff702
over 16 years ago
Posts: 182
Member since: Apr 2007
Well, suppose you don't have a 20% down payment plus the $50,000 or so in closing costs to buy that midtown 2/2 with a balcony on the 23rd floor in a no rat/no roach building, but you can afford the $3500 a month rent from a landlord? And, in addition, suppose you consider that your corporate job might get eliminated but the mortgage obligations will linger on as opposed to the remaining payments on the lease? Is it OK to live there, enjoy it and not feel like a loser? Is there such a thing as cognitive consonance?
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Some people despise and belittle the things they cannot have.
You forgot the ending ... the fox takes ten steps and winds up at a cool mineral spring, with all the refreshing water he could ever want, and no hassle ... and he could be sure that in several months, he wouldn't be left with far fewer grapes.
Riversider - you had better watch your back now because aboutready is sure to come after you, spouting expletives.
This is how the ending should go:
"What a fool I am!" said the fox furiously. "These grapes are sour and not fit for eating. Why would I want them anyway?"
With that, the fox started walking away. Suddenly, an owl landed on the branch the vines were wrapped around, pushing the grapes lower, within the fox's reach. However, the fox had already made up his mind about the sour grapes and was considering looking for fruit in Westchester.
"Some people despise and belittle the things they cannot have."
Agreed but others are grateful that even though they could have afforded to buy they have been smart enough to sit on the sidelines over the last couple of years.
Clearly many move to the city without the economic means to buy. As their fiscal situation improves eventually some get the means. Each year a certain group of people finally get the savings and income needed to buy a place they would be willing to own. It's these first time buyers of NYC apartments that have been most wise in not pulling the trigger over the last couple of years and it is these buyers who will remain wise if they continue to rent.
It's simply foolish to think that all renters rent because they can't afford to buy otherwise we'd have significantly fewer first time buyers. Personally I'm proud to be a renter. It shows a level of prudence and an ability to forecast our real estate market. Not until 2006 could I have afforded a reasonable apartment in a neighborhood I would be willing to live in. So clearly my decision to rent has been wise. At the top of the market I was taking the heat from my friends (and wife) about how unwise we were to rent, but now it's clear that financially we are in a much better position now because we chose to rent.
We go lower from here.
Did Aesop have a new-dev condominium? I missed that part of the tale.
And with patience, that foxy fox will soon have sweet yummy raisins. Sweet dreams, children.
http://www.litscape.com/images/Aesop/The_Fox_and_the_Grapes.jpg
I think foxes are getting a bad name here.
You'll have to sing the audio: http://www.youtube.com/watch?v=PJh6PxhamTU
well, the buyer's version of this is that the fox never gives up -
his friends tell him there are better grapes, cheaper in the store round the corner, but the fox HAS to have the ones high up on the vine
so after many trials, he jumps off from a taller tree trying to get at the grapes and breaks his bones
he finally gets one tiny grape, but is happy that he found HIS OWN grape, that helps him overcome all his inadequacies, and is convinced that people will FINALLY respect him now
the end
Foxes can climb trees, so I don't know why they can't climb arbors. Or just wait for the goddamned grapes to fall like everybody else.
funny, reminds me of catching salmon after they swim up the river and lay their eggs...
Then the clever (manhattan)fox said..."I am so glad I sold those grapes at the top of the market. Who would be so dumb to pay 2x the 2002 level? Now I can afford to buy twice as many grapes when they are ripe once again. In the meantime, I can hang out by the stream and relax. All of those farmers seem so pissed that they are stuck with SOUR GRAPES...."
I am reminded of the Uncle Remus story about Buy'r Rabbit and the Tar Condo.
Thanks for the feedback all. A great piece on Cognitive Dissonance.
riversider - now ask them all if they know what "cognitive dissonance" means (and yes, I know what it means)
Well, suppose you don't have a 20% down payment plus the $50,000 or so in closing costs to buy that midtown 2/2 with a balcony on the 23rd floor in a no rat/no roach building, but you can afford the $3500 a month rent from a landlord? And, in addition, suppose you consider that your corporate job might get eliminated but the mortgage obligations will linger on as opposed to the remaining payments on the lease? Is it OK to live there, enjoy it and not feel like a loser? Is there such a thing as cognitive consonance?
cliff, that is common sense.