Rent they said. It’s cheaper they said.

[Amerikan Melanin]

Excellent schools.

 

[Spence]

The $1700 I’m charging my tenants seems like a bargain compared to these prices

 

[Conan]

I'll repeat this as many times as needs to be said.

As an owner, your options are:

• Pay your own mortgage; earn equity, receive tax deductions and long-standing credit history and a marvelous hedge against inflation.
• Rent it out and let someone else pay your mortgage; earn equity, receive tax deductions and long-standing credit history and a marvelous hedge against inflation.
• Sell the home and cash in on your equity.
• Pass the property down to your progeny.

As a renter, your options are:

• Pay someone else's mortgage and the rising cost of inflation.

Someone else who doesn't understand opportunity cost.

As a renter, all that money you put on the down payment, PMI, home maintenance, property tax, mortgage interest, additional utility bills (like trash and sewer) can instead be put in the market, which has a higher earning rate than real estate appreciation.

As a renter you're paying for housing. As a home owner you are paying for housing. What matters is how far ahead you are at the end of the day in terms of net worth. And there are many situations where homeowners end up worse than renters.

 

[Conan]

Keep paying them folks mortgage like a good nikka....we proud of you keeping up them rent payment for 4 years

Keep on slaving to maintain that house of "yours" (deed still with the bank) .

 

[Unknown Poster]

Some of these rents are exaggerated. Like the Pittsburgh one. Sure it can get expensive but the rents are relatively affordable.

You can still get a 2 bedroom 1 bathroom place for 800 a month there.

 

[Kurt off them percs]

Blessed I got my 3 bed apartment 1100 a month with no increase as per my lease.

 

[BaldingSoHard]

Someone else who doesn't understand opportunity cost.

I love the internet.

 

[Silver Surfer]

Keep on slaving to maintain that house of "yours" (deed still with the bank) .

Property value up 120% since I got it....with daily offers...who would be mad at that.

Meanwhile you admitted to paying another nikka mortgage for 4+ years

 

[Family Lives Matter]

B b b b b but multi millionaire life coaches on Instagram grifting to sell dumb dumbs seminars told me I shouldn't buy

 

[BaldingSoHard]

Property value up 120% since I got it....who would be mad at that.

Meanwhile you admitted to paying another nikka mortgage for 4+ years

May as well call that man daddy.

And it wouldn't really be funny for not the hubris with which brehs like him proclaim that they rent by choice.

 

[Silver Surfer]

May as well call that man daddy.

And it wouldn't really be funny for not the hubris with which brehs like him proclaim that they rent by choice.

Nikka bragging about his rent payments.....

 

[BaldingSoHard]

Nikka bragging about his rent payments.....

 

[AQz]

It's not that it is generally smarter, but folks only look at the sticker price…

Before I got my house I had a nice deal where I was paying way below market rate for rent the whole time we were there. It actually was more cost effective for us to rent.

In general though in most situations. If you bought a property today vs rented the same property today. The cost to rent is more than owning. Looking at a random example here the rent price on the low side is $400 more per month than ownership fees or $4800 more yearly (in reality the owner probably got the property many years ago so what you’re overpaying monthly is even greater).

Assume you live there 5 years. Did the owner need to do $24,000 worth of repairs? Possibly, but not likely.

You’re not directly paying for the pest problem, refrigerator that needs to be replaced, etc.. when renting but what you’re are overpaying is an emergency fund for the owner that goes toward the purchase if they are smart or could be going towards your own emergency fund if you owned.

Many states have homestead exemptions where property taxes can only go up so much per year and also some states have rules where you stop paying property taxes after a certain period at residence and/or age such as 65. You’re paying rent forever.

When you talk about property taxes, assessments, construction, etc.. even if renting those fees will be passed on to the renter if anything more aggressively.

At the end of the day too for me it’s something I can leave to my kids. Last thing in reference to house prices going up by 100k. I think about houses going up by percentages more than actual cash numbers. If you’re moving next door (why would you do that) it could be an issue, but if the price of my house in went up 50% as did the one I’m looking to buy in a less expensive area I’m still coming out in top and I can transfer my homestead exemption.

That said it’s just my perspective. I think if it works for you it’s right. If it works for me it’s right

 

[Wild self]

Capitalism needs to be kept out of housing. It's a fukking necessity. This shyt pisses me off so much

But the Coli will call you "soft" and "weak" for regulation of prices of an essential need.

 

[Wild self]

If your solution is go buy a house, you know very little about what's going on in the average american life. People who can't afford a home, and earn shytty wages need to be able to live somewhere. If worst comes to worst, them landlords gonna be on milk cartons.

It cannot come soon enough