Can someone explain to me, how owning and buying a home, is better than renting? this is outside of speculating on the area you buy in.
Assumptions: Renter has the same initial deposit and puts it into the S&P 500 or something else similar. 30 year period.
Inflation is averaged at 3.5%.
From my calculations, the renter is going to be doing just as well at the very least, if not a lot better. in the past two decades the renter actually would outperform the buyer in network, especially easily liquidated net-worth.
Depends on many variables, though most investments will beat the equity you'd get when you buy a home.
Most here would only buy a home if they were going to use it to create income from the property.
Lincoln Walker
People are retards who think "housing only goes up" They also don't factor in taxes and maintenance They don't realize their house can be illiquid if they want out Renting has been great for me I'm young and single though and just prefer the flexibility Once the housing market crashes maybe I'll buy a home as an investment
Isaac Ramirez
And you go back to square one
Tyler Clark
My mortgage goes down, your rent goes up
Evan Gonzalez
In the US, many areas are a fine line and tweaking the numbers even just a bit differently will lead to one option winning out over another.
The only solid stat around this debate I've seen is that "on average" renters have lower net worth than homeowners overall, across all age and income groups.
Jeremiah Murphy
every buyer i've talked to has basically said the same version of "if you had purchased in this year you have gained lots2. then you mention inflation, they have deer in headlights look.
then they say but in the last 9 years houses have went up way more than 3% per year, its a GREAT investment. The minute i mention, yeah, but houses also go through massive bust cycles, do you remember 2008? that basically evens it all out to slightly above inflation. again with the deer in headlights look.
speculating is one thing, but i think people are really not considering much when they say "renting is pissing money away". lol. Are the jews pretty much selling everyone this dream just so they can make money from interest rates and taxes or something?
Sebastian Gonzalez
Shh! Keep the bubble growing.
Brandon Nguyen
You have to think super long term
My great aunt has rented the same place for 70 years, for the reasons mentioned above. She has paid the value of the property 3 times over. In some locations renting is better because of retarded property tax laws but in mine buying is the way to go. My mortgage is significant lly cheaper than rent monthly. I did buy post crash tho so my numbers are better than most
