Rent they said. It’s cheaper they said.

[UpNext]

Imma be real. If taxes and maintenance costs are a big enough blow to your pocket that that saving them helps you in a big way then you probably couldn’t afford the property in the first place.

Like my yearly weed bill is bigger than what I pay in property taxes. My monthly auto deposit into my brokerage is bigger than what I pay yearly in property taxes. This is not the point that you think it is lmao.






The bank at most will collect 2.6% of what I paid for my spot. If I sold the property that I’ve had for less than a year today I would have an estimated $120k net proceeds. And everything in my zip code is cash offers above asking or bust.

Keep justifying paying rent though. I’m sure the 2-3k you save in taxes will take you far in life.

He putting that in the market. Even though he don't want to show us the plays or his receipts, he clearly straight lol. Telling brehs all this stuff about don't buy, rent and invest....but don't want to show his investments.

 

[Turbulent]

That's a rather large assumption, and one I'm not willing to concede considering my mortgage is less than every single median number listed in the OP, and I sure as hell am not living in Bumblefukk, Rhode Island.

But even assuming it's true, over time it will continue to become less and less true as rent continues to rise.

But is your mortgage less than the median rent of the city you currently live in? And if so then yes, generally i would probably own as well, don't get me wrong.

 

[Turbulent]

I can certainly understand it being more satisfying, but it's never more financially prudent over the long term unless the home loses value.

The longer you plan to stay at the house, the more it makes sense to buy. But if you are not sure to stay at least 7 years (i think that was the number) then it's financially more prudent to rent.

 

[Conan]

I can afford to invest and own a home. I could payoff my mortgage in 10 years if I wanted to.

You’ll be paying rent while I’m retired in a paid off house.

Ok, me too. What does that have to do with the mathematics of the situation? The question is, what is the best thing to given a finite amount of resources?

Still no receipts huh

Receipts of what nikka?

 

[BaldingSoHard]

He putting that in the market. Even though he don't want to show us the plays or his receipts, he clearly straight lol. Telling brehs all this stuff about don't buy, rent and invest....but don't want to show his investments.

He doesn't wanna do that with this crowd...

Breh will open the scraps in his lil-ass robinhood account and get embarrassed.

Something... something... opportunity cost... .

 

[Leao2005]

Where is this? TO?

6k to live comfortably I mean

Under under 4K —check to check

 

[BaldingSoHard]

The question is, what is the best thing to given a finite amount of resources?

nikka that's what we're trying to tell you!!!
LAND is a RESOURCE! OWN LAND!
Completely different asset class than the market.
But one you absolutely want to own.
Yes own stocks! Do that!
But get your hands on some land or get left behind.

Jesus F. Christ!

 

[the artist known az]

Still no receipts huh

He act like paying rent isn't a unrecoverable cost. At least with owning you can make upgrades to increase the value

 

[BaldingSoHard]

But is your mortgage less than the median rent of the city you currently live in? And if so then yes, generally i would probably own as well, don't get me wrong.

That's a good point. It's lower, but not monumentally lower like the numbers in the OP. I'm maybe ~$300/month below the median.

 

[UpNext]

He doesn't wanna do that with this crowd...

Breh will open the scraps in his lil-ass robinhood account and get embarrassed.

Something... something... opportunity cost... .

We got this nikka on the ropes with that one fam. This is what he saying now

Receipts of what nikka?

nikka typing all them paragraphs and got his chest all out until it's time to show those receipts. Now he acting like he don't know what I'm talking about.

 

[Turbulent]

That's a good point. It's lower, but not monumentally lower like the numbers in the OP. I'm maybe ~$300/month below the median.

Then yes, in that scenario I would probably own too. But generally, median rent will be lower than your typical mortgage payment. All I'm trying to say is that being a homeowner is not the only path to wealth building. Sometimes it makes sense, sometimes it doesn't. I know people who regret buying, i myself regret not buying (although i just didn't have enough money at the time). I'm not for or against it. I'm just saying it's not the no-brainer some people make it out to be.

 

[Wild self]

All major metropolitan cities. Take your ass to the country if you don't like it.

Not just the cities, but the surrounding burbs too.

Living in a rural ares means that you live in isolstion with piss poor American Infrastructure, low paying jobs, and broke racist CACs waiting to kill you

 

[Wild self]

It depends on your market. And more and more, America is becoming an owners market. We’re heading towards a full blown serfdom where renters will totally be at the mercy of landlords. Most landlords can afford their mortgage without having to rent. It will soon get to the point where renters have no choice.


California is basically there atp. Very few people can afford to rent or own without roommates. The prices don’t go down.

Time for bloodshed ala French Revolution style

 

[CW_1991]

Not just the cities, but the surrounding burbs too.

Living in a rural ares means that you live in isolstion with piss poor American Infrastructure, low paying jobs, and broke racist CACs waiting to kill you

I agree on the first part.

Not so much on the 2nd. You don't got to live next to Cletus and Jim Bob in some bumfukk redneck town to have a reasonable living situation.

There's plenty of smaller towns and cities out here that are perfectly fine and safe. It's just that you're not going to get the Atlanta or the Miami lifestyle. It's more slower paced.

 

[Wild self]

This 100%.

Everyone saying "BuYiNg Is BeTtEr" ignore the fact that the housing market is currently in an artificial bubble created by various banks/firms buying up 1/4 to 1/2 of the inventory in various cities.

The people that own have increased their net worth but would lose most of it if they decided to cash out and buy elsewhere since the price of houses all went up at the same time. Imagine making $50k/year then suddenly now making $150k/year. Sounds great? But if your mortgage, food, gasoline etc, all tripled in price, you'd essentially be in the same position as before just with bigger numbers.

I believe that a lot of this "inflation" is a direct response of Trump losing the 2020 election, because these companies are now under heavy regulations from Joe Biden's executive orders. They are pissed that they have to play by the rulebook, and taking out their anger on mathematically illiterate American consumers by PRICE GOUGING.