Rent they said. It’s cheaper they said.

[the artist known az]

The OP is under this delusion you can buy a house in those areas and pay less than you would renting.

I'm pretty sure in most of the areas on that list, you can find a house or condo that is less than the listed rent

 

[Sad Bunny]

Are you seeing how much houses are today, you prolapsed dumbass? How much do you think a mortgage on a $500000 house is?

Just because you’re too broke to afford a down payment or closing costs doesn’t mean everyone else is

 

[PortCityProphet]

Which is why i said from the beginning, it depends which city/neighborhood you live in, the market, etc.some places mortgages are higher than rent, some places it's slower, some of them it's the same. In the places where rent is close or higher, it probably makes sense to buy. But in most of the cities listed in the OP where rent is high, im willing to bet that house prices are high as fukk which would make your mortgage higher.

The OP listed NYC, Boston, LA, Austin, Seatle, etc with high rents. How much would it cost to buy a house or condo in those same cities?

I get what you're saying but I'm saying whatever money they do save should be going to buy a house eventually. Not that they gotta run out and try to do it right now but they should be banking some sort down-payment money. Unless they trying to get their

on

 

[the artist known az]

Are you seeing how much houses are today, you prolapsed dumbass? How much do you think a mortgage on a $500000 house is?

It could be the houses you're looking at. There's still houses that are in the 200-300k range. You don't have to go out and get a McMansion

 

[SleezyBigSlim]

I'm getting close to having 20 percent to buy a condo in Bed-Stuy, but I work in FAANG, and that's after penny pinching. That down payment is no joke. First last and security is peanuts compared to a non-FHA mortgage in major cities

Use your 401k or retirement for your downpayment breh. Nobody saves money out of thier paychecks for downpayment on a home it's too much.

 

[Turbulent]

I get what you're saying but I'm saying whatever money they do save should be going to buy a house eventually. Not that they gotta run out and try to do it right now but they should be banking some sort down-payment money. Unless they trying to get their

on

Don't get me wrong, I'm always keeping that down payment money ready to pull the trigger. But it's not always a good time to buy, not always a good market. 08-09 was a great time to buy. Looking at prices now, I'll wait a little and "throw my money away" steady investing. For context, i live in Montreal.

 

[Conan]

I'm pretty sure in most of the areas on that list, you can find a house or condo that is less than the listed rent

You would be wrong for the most part.

Take NYC for example. In addition to a mortgage on an apartment in Manhattan or Brooklyn, you'd be paying monthly maintenance fees that can be over $1000 in some buildings.

But here is the thing. If you find a listing where the mortgage would be $1000 and the rent is $3000, then you should buy. No brainer.

All I'm saying is, do the math. Sometimes it makes more sense to rent.

 

[Heafcliffe]

Resides in DC, the astronomical increases in our rent is why we chose to mortgage. We pay roughly half of that and have a network of friends who are tradesmen to help with incidentals.

 

[Kliq_Souf]

Pittsburgh cannot be 1.9K average


I pay almost half that and got a nice spot, 20 mins from downtown

 

[Panther]

I'll never understand the mentality of people who try to make renting over owning seem like a smart decision.

Renting vs owning is a case by case basis

Owing is not always the better option

 

[Rekkapryde]

I'll never understand the mentality of people who try to make renting over owning seem like a smart decision.

because they don't own...and have known nothing else but renting.

 

[the artist known az]

You would be wrong for the most part.

Take NYC for example. In addition to a mortgage on an apartment in Manhattan or Brooklyn, you'd be paying monthly maintenance fees that can be over $1000 in some buildings.

But here is the thing. If you find a listing where the mortgage would be $1000 and the rent is $3000, then you should buy. No brainer.

All I'm saying is, do the math. Sometimes it makes more sense to rent.

Of course NY, LA, DC would be difficult. But Nashville, Pittsburgh, Cincinnati and other cities you could definitely find a decent house

 

[RiffRaff]

Most rational people aren’t saying rent is better it’s just a reality for a lot of us.


Imma be home ownership gang next year though

 

[Bubba T]

because they don't own...and have known nothing else but renting.

Some dude in this thread was bragging about paying high rent. “My rent is HIGH to you” as if that was some kind of flex

 

[UpNext]

Renting vs owning is a case by case basis

Owing is not always the better option

I'm not gonna lie to you bro, the only case I've seen where renting beats ownership is if ownership is not even a realistic option for you. Everything else is goofy babble unless you're trying to show that portfolio and let thecoli know what the winning plays are.