Jay Morrison Debates with Vlad on Whether Real Estate is a Scam
- Thread starter Pyrexcup
- Start date
Vlad is pretty dumb.
i agree with some of the points he was making (mainly that people underestimate the risk of owning your home) and people miscalculate the opportunity cost of owning your home vs investing. But the other dude made some good points too about how you can't compare a single family home you have a mortgage on vs. the stock market. not the same types of investments. also, nothing is stopping you from doing both.
i agree with some of the points he was making (mainly that people underestimate the risk of owning your home) and people miscalculate the opportunity cost of owning your home vs investing. But the other dude made some good points too about how you can't compare a single family home you have a mortgage on vs. the stock market. not the same types of investments. also, nothing is stopping you from doing both.
This was amazing to watch watched the whole thing Thanks to OP @Pyrexcup
Vlad can say that because he is already a millionaire so his income is his channel and websites
This guy is giving economic advice to everyday people on the come up the most realistic and logical advice ever.
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Alpha Male
Spare me your daps
there is no benefit to renting over owning unless you literally cannot afford it.
if you have enough money for the down payment and you can afford to pay the mortgage, renting is the worst thing you can do.
if you have enough money for the down payment and you can afford to pay the mortgage, renting is the worst thing you can do.
UpAndComing
Veteran
Lord Jamar calls DJ Vlad a Culture Vulture
I kinda understand where Vlad is coming from. Owning a home is financially crippling. Renting a home is 10 times better, if you're purely looking at it as a non-business opportunity
I kinda understand where Vlad is coming from. Owning a home is financially crippling. Renting a home is 10 times better, if you're purely looking at it as a non-business opportunity
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Made Myself A Boss
#Trolltruck
Jay Morrison outclassed him big time on here AND I don't thing he's scamming anyone.
Vlad was all... "bu bu but in the stock market you can put money and and press a button and take money out... But in real estate you have to wait to get paid" well no shyt Sherlock but that still doesn't make real estate a "scam"
Just because Vlad had a mortgage..lost his job and STILL had to pay his mortgage doesn't make real estate a "scam"
And
@ Vlad not knowing that you can buy and sell property without a real estate agent
I will say that if you don't have a solid income you shouldn't buy a home because you will end of losing it, the money you put into the home, and it will also ruin your credit
But the lesson here is to have those other boxes checked before you actually buy...not to not buy a home
Vlad was all... "bu bu but in the stock market you can put money and and press a button and take money out... But in real estate you have to wait to get paid" well no shyt Sherlock but that still doesn't make real estate a "scam"
Just because Vlad had a mortgage..lost his job and STILL had to pay his mortgage doesn't make real estate a "scam"
And
@ Vlad not knowing that you can buy and sell property without a real estate agentI will say that if you don't have a solid income you shouldn't buy a home because you will end of losing it, the money you put into the home, and it will also ruin your credit
But the lesson here is to have those other boxes checked before you actually buy...not to not buy a home
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I disagree. I thinking owning a home is pretty overrated and limits you tremendously, especially if you're not planning to stay in a city for a while. Real estate as an investment is great but just as a place to stay it's not really too much more beneficial. The financial savings are good but over the long run aren't THAT much. If you can buy a home outright or inherit one, that's cool but I wouldn't ever go through the process of getting a mortgage again.
Doobie Doo
Veteran
You are not factoring in maintenance and upkeep along with property taxes and annual fees such as HOA and being tied to the home.I dated a chick who owned a home in Chicago, moved to NC and had to travel back and forth for a year to sell the home to potential buyers. It was a huge headache for her and she never wanted to buy again.
Kobes Two Jerseys
8 or 24 best player of the era
No benefit to renting at all. No sure who came up with such bullshyt but I would bet they owned a house.
something about the way Jay does his shyt makes me a little suspicious.
I mean you'd think he was a top broker or something...but he's hustling something a tad different from that. Its weird.
I mean you'd think he was a top broker or something...but he's hustling something a tad different from that. Its weird.
this topic can be debated in so many different ways. but i will say this, the faster u get on track to owning ur home outright, the closer u'll be to never having to worry about a job loss.
if u cant understand that, i dont know what else to tell you.
if u cant understand that, i dont know what else to tell you.
If you have a secondary home, Vlad MAY have a point. Can't be trying to make money off your primary home.
Made Myself A Boss
#Trolltruck
That's the only advantage of renting is that you can pick up and leave whenever you want.
But Long term... I'm talking 20-30 years down the road you are going to wish that you paid a mortgage instead and have the ability to reap the benefits of it later...
Its not "easy" and your money has to be steady to begin with...but when you are in your 40s it will all be worth it.