nikkas still paying rent over a mortgage is crazy in 2025

[151_Pr00f]

I mean for the most part yeah. Far too many people eat out instead of just cooking at home

So market forces play a limited role? Lol, right.

Home ownership wasn't even common until after the Baby Boom and New Deal reforms but dudes buy too much avocado toast. Aight

 

[CashmereThoughts]

Getting that 20% down payment isn't easy. If you looking at a $250k house, that's $50,000.

Of course you could use the FHA loan but expect to pay more on the mortgage.

Most people didn’t aquire their first home with 20% down. Thats a luxury.

 

[Mystic]

So market forces play a limited role? Lol, right.

Home ownership wasn't even common until after the Baby Boom and New Deal reforms but dudes buy too much avocado toast. Aight

nikka people spending to much of clothing, take out, videogames, etc. im seeing plenty of houses under 150K that with 20% is only like 800 a month for mortgage.

 

[UpNext]

People who pay a mortgage sound like people who try to talk you into a cult.

We just want y'all to join the winning team

 

[Peruvian Connect]

nikka people spending to much of clothing, take out, videogames, etc. im seeing plenty of houses under 150K that with 20% is only like 800 a month for mortgage.

you a lie. and most houses for 150 is in the hood or hood adjacent

 

[Houston911]

Renting is cheaper than owning, and it’s been that way for like 7-8 years now. You can easily see this for yourself if you actually look. They got a bunch of homes that are for sell, but also for lease. I saw a crib that had a monthly payment (rent) of $3,300, but the mortgage (property taxes, hoa, insurance, etc) is over $4,000 a month. And that’s with you putting 50k down up front. And with you now being responsible for anything that breaks or goes wrong

Owning isn’t a win (short term) unless you get a good interest rate and don’t overpay for the crib

Takes a while to break even on buying vs renting

Imagine if you invested that 50k and the $1,000 monthly savings from renting vs owning for 5 years.

 

[Mystic]

you a lie. and most houses for 150 is in the hood or hood adjacent

Falsehood

 

[⠀X ⠀]

Getting that 20% down payment isn't easy. If you looking at a $250k house, that's $50,000.

Of course you could use the FHA loan but expect to pay more on the mortgage.

250k?

Try $650k in NY. And that’s for a basic house that could use another $100k in improvements. Even the areas that used to be cheap are expensive. The “ghetto” areas are expensive. The areas 2 hours from the city are expensive. Its truly crazy.

 

[Peruvian Connect]

Falsehood

Post them, I'm on Trulia. A 130000 crib thts hood adjacent with 20% down is 950 a month

 

[⠀X ⠀]

Duplicate

 

[Sad Bunny]

The more you put down the better. People have lost homes because that mortgage was too much.

Well they should have bought something they could afford. Lol.

 

[threattonature]

I hear you and we are aligned on a few of your points.

To be clear, I’m not a proponent that one’s primary residence is an “investment” because in most cases it is not. (Sidebar - However, home equity can be tapped into prior to selling with a HELOC that can be used to buy other revenue generating assets, like a rental property or to buy a business).

What I advocate for is that we shouldn’t be life long renters because we don’t want to “cut the grass”, “fix a toilet” or because of interest rates that can be refinanced down the line.

With a mortgage, you get the following:

- Locking in your monthly housing expense for 30 years
- Equity
- And most importantly, ownership

Wealth is built through ownership and that’s what our people should be aspiring to so we are not beholden to cacs continuing to have their way with our dwelling, community and livelihoods.

Of course owning isn’t the answer in every case and nuisance of course factors in but a lot of the boogey man arguments and misinformation (e.g. you need 20% down to buy a home) in favor of renting are laughable the more informed you become.

That ain't even true. As the value of the house rises so do property tax payments. Home owner's insurance can rise. HOA fees can rise over time. Plus the best saying that's so true is when you rent that's the maximum amount you're paying per month. When you own that mortgage is the minimum. Add in anything breaking and the cost of upkeep such as landscaping. Wealth can also be built by investing. The money one puts down for a deposit could be used to invest.

And I'm not even against home ownership. For someone that is single I think it makes more sense to rent. If you are settled down and have your kids then it makes more sense to buy and get the added space and security of owning a home.

 

[the artist known az]

To the people saying houses are too expensive, what kind of houses are you looking at? Sounds like it's 4-5 bedroom detached homes. There are so kinds many other options especially if you don't have a family. Apartments are 2-3 bedrooms max and you got get a condo or townhouse cheaper than detached

 

[Windows 91]

I'm a homeowner but will still cop a 6 piece from McDonald's every now and then OP

 

[tuckgod]

Rent is like chicken nuggets, you gotta eventually grow outta that shyt