Rent they said. It’s cheaper they said.

[Alvin]

There is plenty of housing available, I Hate turning this into strictly a supply and demand issue. The problem is companies decided single family housing was the next big asset class and decided to monopolize the market
This issue is artificial, and speaks to a bigger issue that's always existed in america; the rich uses their money to bully and leverage better circumstances for themselves.

I think young people will adjust by continuing to shack up even more and more with each other, both to escape housing and an unfavorable job market, doing the bare minimum to get by. I don't think people realize how apathetic younger millennials and Gen Z are, they don't give a fukk. The US is facing a unique problem; for the first time ever, upward mobility for most is coming to a standstill, and people are just checking out, because they don't have hope or aspirations anymore.People have gotten priced gouged to their limit and said fukk it.

It's weird, I've been through worse in my life, I Remember coming out of my house and seeing Crack vials and blue and red tops scattered on the ground, seen family shot at, friends killed, etc, but while the issue with the economy doesn't seem "worse", it feels bigger. It's also incredibly unique, I know housing is largely an issue of supply and demand, but it feels like the bubble is still gonna pop because of unprecedented factors.

I see that all the time, MFs just out here being mediocre.

 

[Alvin]

Something has to give because this is going to get BAD if they don’t get this under control. They are siphoning every cent from Americans’ wallets.

that inflation and housing bubble burst is going to be crazy

 

[Alvin]

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

and drive hours to get to work?!

 

[Gloxina]

The people gotta fight back. It’s bad out here.

Gas is like $5.16 in Philly

I just wonder what it will take.

The truth is there’s a good amount of people who are still doing just fine and are simply waiting for things to flip back to normal economic times, but

that inflation and housing bubble burst is going to be crazy

Eh prices always fluctuate. That’s why you try to wait for a slow down or crash and purchase, and just hold on forever or sell during market highs when you’re truly ready to downsize or relocate. The people who have owned for decades are cashing out now at record highs/profits. The housing market will dip and rise a few times during the course of ownership.

Hell the stock market took a terrible dip during the start of the pandemic and had record highs shortly after. If you closed positions in 2021 you were in the money Now we’re about to enter a terrible time. Those who buy while the world is falling are the ones who will be rich when the economy rebounds.

Recognizing the patterns and preparing for a rainy day is one of the best things we can do.

 

[Sad Bunny]

If we are talking strictly financial, it depends on location.

If two people have the exact same income, one rents, the other owns, even if both invest, the renter has more disposable income to invest in the market.

This isn’t true at all

 

[Turbulent]

This isn’t true at all

If two people make 100k. One has a mortgage of 3000, the other one pays 1500 rent. If all other expenses are the same, the renter has an extra 1500 to invest.

 

[Sad Bunny]

If two people make 100k. One has a mortgage of 3000, the other one pays 1500 rent. If all other expenses are the same, the renter has an extra 1500 to invest.

Why does everyone think mortgages are so expensive? Lol.

Y’all stupid

 

[charknicks]

If two people make 100k. One has a mortgage of 3000, the other one pays 1500 rent. If all other expenses are the same, the renter has an extra 1500 to invest.

What kind of apples to grapefruits comparing is this?

Of course if the renter as $1,500 less rent, they will have that available to invest, same as the home owner if it was the other way.

You have to compare the same thing, man. If they both have a $3,000 monthly cost, the mortgage will stay the same, but next year, the rent will go up 3-5%, and the year after, and after that, etc. In what city would a mortgagee with a $3,000 mortgagee also be renting the same type house for $1,500?

Stop making false comparisons. Makes no sense.

 

[Conan]

What kind of apples to grapefruits comparing is this?

Of course if the renter as $1,500 less rent, they will have that available to invest, same as the home owner if it was the other way.

You have to compare the same thing, man. If they both have a $3,000 monthly cost, the mortgage will stay the same, but next year, the rent will go up 3-5%, and the year after, and after that, etc. In what city would a mortgagee with a $3,000 mortgagee also be renting the same type house for $1,500?

Stop making false comparisons. Makes no sense.

Yeah but assuming the renter starts at $1500, he has the advantage of investing earlier. Compound interest has a greater impact the earlier money is invested. Later in the life of the mortgage, rent may exceed the mortgage but the money invested years earlier has compounded to a large amount, that later savings in the mortgage can't catch up to.

Plus, only the loan + interest portion of a mortgage is fixed. Property tax goes up as that is assessed as a percentage of a home's value. So does insurance. So does home maintenance and repair fees. So does utilities related to owning a home (sewer, trash).

 

[PortCityProphet]

Renting is fukkin stupid. If you found your forever city you'd be an idiot to choose to rent. I say this as somebody who rents.
Aint nothing worse than spending money on an appreciating asset and not having anything to show for it.
Aint got shyt to your name cept the funky ass furniture you own.
And you have no control over anything. They want to raise rent out the blue you gotta live with it or move. They wanna not give you the option to renew you gotta live with it. They wanna tell you its quiet hours at 9 guess what time you got to shut the fukk up if you wanna keep living there
Yeah buying a home comes with some maintenance cost and I might have to drop a few grand on a hvac or couple hundred on a dishwasher but as soon as I do the value of what I own goes up and it'll most likely be a one time payment for something that'll last me a decade.
And where I lack the freedom to do what I want as a renter I have the freedom to change just about anything as an owner. If I wanna paint my whole interior jet black and play war games with paintballs to decorate that muafukka I can do that. If I wanna put a koi pond in that bytch to get my back yard zen right we gon have that shyt lookin like China takeout #73 and I aint gotta ask nobody permission.

There will always be more value in being an owner than a renter. Its basic look around in the world common sense. Don't understand how cats going 5 pages saying otherwise.

 

[PortCityProphet]

If two people make 100k. One has a mortgage of 3000, the other one pays 1500 rent. If all other expenses are the same, the renter has an extra 1500 to invest.

Yeah they'll need to invest in a bigger place cause for 1500 they living in a 600 sq ft box

 

[Turbulent]

Yeah they'll need to invest in a bigger place cause for 1500 they living in a 600 sq ft box

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?

 

[Conan]

Why does everyone think mortgages are so expensive? Lol.

Y’all stupid

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

 

[the artist known az]

If two people make 100k. One has a mortgage of 3000, the other one pays 1500 rent. If all other expenses are the same, the renter has an extra 1500 to invest.

That's such a bad comparison. You're skewing numbers to be on your side. Someone who is paying 3000 a month mortgage, their house would be like 500k. So you're trying to compare a 4 bedroom 3 bath in most places to a 2-3 bedroom apartment

That same person could buy a house for 200k and be paying less in mortgage than the person paying 1500 in rent and have more money to invest than the renter

 

[Conan]

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?

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