Is renting a meme?

The true redpill is to live at home with your parents until this housing market inevitable collapses

depends on your location. typically, if you assume that the market returns a certain amount, it is by far cheaper to rent then it is to own. there are scenarios where it makes more sense to own but to make that decision would require set variables unique to circumstances.

variables include price of housing in your location, interest rate, how much you are willing to put in the down payment and the anticipated average market return.

>tfw my job provides free accomodation as a perk

only bad thing is I have to move every few months, but at least I'm not wasting money on rent

Dont know. I live with my parents

Stay in parents house until you pay student loans and safe for a down payment on a morgage (not in a city ofc)

Personally I don't want to be nailed down to one place right now and I rent under what most young people with my means would because I have no need for extra dumb shit and I live in a small enough city that rates aren't absurd.

I'm definitely wary of buying in this market, and think more people should be aware of all the bullshit federal/state buying taxes, property taxes, and other bullshit that will have you in the hole further than you'd think from the beginning.

If you do the math it's very easy for someone renting reasonable properties that puts a good percentage of their paycheck away to come out ahead longterm on homeowners.

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I saved up a 20% downpayment only to look around and realize that at 25 years old I have absolutely zero reason to own a home and I'd be a complete retard to financially obligate myself to one, I think I'm just going to rebalance my brokerage account with the down payment money and continue to live with my parents

>What if they took out a starter home mortgage
then we'd have to live in this fucking shitpile

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if you live in certain cities in the coastal U.S. or large parts of other countries like Australia, very possibly. If you live in flyover country USA no, this isn't true at all and it's just poorfag cope.

Renting isn't a meme. There are so many variables it's impossible to say one is better than the other. That said, real estate should be part of a diversified portfolio and most wealthy people either own their own home or own other income-generating properties, so there is 100% something to it.

Yea if you can live with your parents keep doing that. At 25 you're kind of pushing it, but if you're happy with it and they don't mind, keep on doing it. If you're saving 90% of your salary, it's unlikely a home would appreciate that fast so you're coming out on top (without trying to time the market and interest rates, the effect of which on home prices is not a simply inverse relationship), especially now, after years of unprecedented gains.

live in a trailer park until the housing market is done crashing

This guy gets it. Renting isn’t always a meme. The convenience is sometimes better than being a home owner

the convenience partially, but the expense mostly. A major repair or replacement can wipe out years of equity especially early on.

Owning your home/apartment by getting a mortgage can be more of a liability than an asset to someone who is struggling to make ends meet.

You should only go that route if you have the money to pay upkeep and property taxes, as well as the mortgage note. If you can't do this, you shouldn't own.

Renting is the move until your income allows you to invest. Home ownership is an investment after all.

I just want a house so I can build a home gym. What do.

Or even if you’re renting it out for passive income and you picked the wrong tenants who suddenly decide to become squatters

It's not as straightforward as that. If somebody buys a house they have to piss their money away on interest, homeowners insurance, maintenance and property taxes. Utility expense is also greater for a house than an apartment due to its larger size and costs to heat and cool. Renters typically don't have those expenses.

I rent with my gf and I'm 28.

I pay some boomer's mortgage on this apartment, but property is still in a total bubble. Really don't want to tie myself up for 30 years to a kike mortgage. When my folks pass I'll inherit their property anyway mortgage free and my gf who I'll likely marry has family with a lot of land (including agricultural), so don't mind paying out shekels to my landlord.

there are houses that cost around 32k and 54k they are really nice and in a good neighborhood, why the fuck would these retards spend 100k on renting is beyond me.

post some

I'm starting to think I might as well live in flyover country. I buy most of my stuff from Amazon and Walmart online and most of my entertainment is online so where I live makes no difference. For stuff I don't do online every major city has decent movie theaters and the same big box stores and restaurants. Might as well live where it's cheaper.

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I'm 24 and already on my third city I rent places with no deposit/lease and if I get bored I'm just moving to another city. Feelsgoodman

How do you seek out deposit/leaseless spots user?

Air bnb

Find them

I'm 23 and renting a place by myself for $260/week. I'm the only person I know who does it, everyone else is in shitty sharehouse arrangements.

They're paying less in rent than me, but they're the ones without any savings.

You can take huge losses in the housing market too though.

So you have no long term plan for your housing security at all?

Figured, I'm damn near wifed now so that might be more difficult to pull off. Moving in September and haven't checked bnb though, I'll give it a shot.

you're probably over paying for rent. and just so you know, leases protect the tenant as much as the landlord. you're practically homeless if the landlord decides he doesn't like you.

Get some genuine savings, work hard buy house. Borrow off equity in principal residence once it reaches an acceptable level.

Then you have 1 home 1 investment. Once equity in investment reaches acceptable levels buy investment two rinse and repeat. 10 properties in 10 years if youre not a tard

Yes but a lot of people don't see buying a home as a investment, they rather see it as buying a home, if you're able to have your home fully paid off in like 15 years or so, you're pretty much settled and can put your money towards other investments.

kys

it's not so simple as saying 'if you can pay off your home in 15 years you can put money towards investments'.

depending on your circumstances if may not be worth it to own a home at all regardless of how long it takes to pay it off.

if i have 1mil in equity in my house, i lose out on 50k a year in opportunity cost. add in the interest - equity + maintenance + property tax costs. it may simply be cheaper to put the million into the market and use the 50k as 'rent money' and that way you won't even incur maintenance fees or property taxes. the only caveat is if you anticipate the stock/real estate market to go up or down. that's the unknown and the risk people take.

one way or another, everybody pays 'rent' whether owning or not.

Live at home with your parents and just save up all your money and wait for another opportunity to buy some homes on the cheap.

>.t guy who has traveled for work past 2 years and just came back home, living at home, expenses are next to nothing, have enough saved to buy 2 starter homes but fuck that, waiting for the next market corrections so I can pick up 5 or 6.

Also, I am holding off on buying any bitcoin until it dips between low 4k and low 3k. I honestly believe it will flatline and move sideways for maybe a year or more after another drop, question is what is the price it will stabilize at? 3400? 2700? Who knows, but I will probably get 50 or so bitcoin when it does stabilize at the lower level price.

renting is not pissing away money
buying at the top of a bubble is
rent costs me $1260 a fortnight, it truly hurts, but a mortgage would cost even more and there's no way in fuck I'm forking over 100k for a fucking deposit

idiots fell for the move out your momma house and go waste money on an apartment or else you are a loser meme enjoy your student loan debts while catching your ass to pay for your shitty apartment

> ILL JUST Be here eating a home cook meal from momma every day and the only money i spend on utilities is giving my father 1/3 of the electric and internet bill ENJOY DEPT IDIOTS WHO WANTED INDEPENDENCE

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yup. renting is basically betting against a bloated housing market.

Craigslist

when was the last time you touched a woman (not your mom)

be honest

I'll just be here a free man and not relying on my parents for survival like a toddler

Don't bank on it being a bubble, heard that for the last ten years. Lots of people, not enough houses = demand...simple.

Just go into your bank, look them in the eye, ask to borrow half a million dollars, give them a good firm handshake and buy that house.

Then when we go into double digit interest rates to control the inflation caused by the trade war and Chinese debt crisis, just go right into that bank, look them in the eye, give them a good firm handshake and say you would like to get another loan to help with your next payment.

Then when you fail to make your next payments and the debt collectors turn up just look them in the eye, give them a good firm handshake and tell them "sure here's the keys".

Then when you need to go and live back with your parents just go round there, look them in the eye, give them a firm handshake and move right back into your old bedroom

2520 a month in rent. 100k downpayment assuming 6% return. 6k a year.

30,240 - 6000 = 24,240.

2,020/month. i really think it's probably cheaper to get a mortgage. borrowing 400k @ 5% rate is 2430.62 a month. but around 45% of that goes to equity.

>this housing market inevitable collapses
Keep dreaming, in the long term house prices only go up never down. By the time you realize how delusional you are you’ll be 40+ no career growth no bank considering you for mortgage no place that’s your own.

my apartment last sold for 800k in 2015
it would be worth over a million now

because the housing market has never collapsed before right?

> when was the last time you had six zeros in your portfolio

you believe fucking sluts & being in dept renting is even comparable to financial Independence enjoy that future

ATM I CAN go to any brothel call up a fucking whore from a escort and get that shit you put so high on a pedestal and still have six zeros in my bank account

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Look at the housing prices in Frisco brainlet...

>renting until you can afford a larger down payment and hoping home prices drop by then?

This is what I'm doing but I'm not paying for rent, I am living in my parent's second house for a few years. They will be back by 2020 so hoping the market is good by the end of that year.

first post is accurate, they don't give a fuck about you or the average useless normie that would be better off dead than alive, the whole point of this system is so that debt slavery continues suppressing the normies who can't deal with these payments, why do you think income inequality only keeps increasing?

what does that have to do with the rough calculation i did? assuming the property market simply stays the same neither growing or shrinking, in your scenario, it makes more sense to buy then rent in a financial point of view.

zeros after a decimal point don't count bruh

I literally threw up after I added up all the money I've pissed away on the rent meme the last 2.5 years.

I've owned a house for 3 years in the Boston area. I bought it for $380k, put about $20k into it and will be putting it on the market next week for $500k.

Easiest money I'll ever make

It collapsed hundreds of times before and always rose to new ath. And it will always be like that until people need shelter and population is growing

no bank will give me a million dollars to begin with
if I had enough for a down-payment I'd put it into the market instead
and I'd rather not buy property in sydney.. I can rent and own 400 acres of beautiful land for less than cost of mortgage
if I intended on living in sydney for the rest of my life it would be wise to buy instead, because even in the short term if there is a collapse it wouldn't be long until the chinks capitalized and it's back in a bubble. but I don't wanna

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>you believe fucking sluts & being in dept renting is even comparable to financial Independence enjoy that future

>ATM I CAN go to any brothel call up a fucking whore from a escort and get that shit you put so high on a pedestal and still have six zeros in my bank account

lmao. so you're a virgin right?

probably because you still live with your parents. It's a good thing you have all that money because you're gonna need to pay a doctor to treat your syphilis after paying for sex.

Sauce?

>At 25 you're kind of pushing it
pushing what
who's going to hold me to those standards

depends. did you mortgage it our buy it outright?

$100k by 30 sounds about right shockingly, but by the time I moved out into my own place in NYC in late 2015 with a salary of only ~$37k, no way I'd have been able to afford to buy a place worth owning in this rising housing market, especially in an absurd real estate market like NYC. Waiting until there's blood in the streets again, then will strike.

no more a meme than taking a salary. you're paying for the security of being able to move every year or so and have some retard manage upkeep and maintenance.

Not only pop is growing, but richfags bet on housing market as well.
Moreover, slavemasters buy real estate in bulk, thus skewing the supply/ demand ratio even further.

enjoy your life after paying 8-10 years of rent and get gonorrhea from that slut you meet on tinder and she comes and tells you she pregnant we need a bigger place

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All anons should pay attention to this. High IQ.
I have an aunt and she bought a brand new house built in a bad area of Riverside county, California. This is her fourth house she bought in that area (she has kept one of them for a rental). The problem is that every time she buys a brand new house, she loses value immediately. And her equity never is returned to the full value she initially bought the house at.
You can look at it like this.
>She pays 659,000 USD for a new house, the value in a year is 550,000 USD.
>In one year of """owning""" her own house, she lost 109,000 USD. On one of her past houses , she bought it just before the financial collapse and it was even worse.
>Alternatively, she could've rented a house in Riverside of a similar size for 2,500 USD a month, spent 500,000 to buy a smaller house within a nice area of Los Angeles like Redondo Beach or Torrance, collected rent from it, and over the course of several year her investment would appreciate in value.

I hope everyone here sees the logic behind this. She has lost hundreds of thousands of dollars over the course of twenty five years because she wanted to own a big house and only could afford them in bad areas. So in certain cases, yes it's better to rent if you can reason that the value of the asset wont appreciate overtime.

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Mortgaged.. yes I paid interest. Between the tax breaks I received and ~ 70k profit (500k - every dime I put into the house), I think I've done better than renting.

To rent my house in this area, I'd probably pay around 2500 a month. So I'm glad I fell for the mortgage meme.

i grew up in torrance houses here cost 600k-2million salaries around here are nowhere near enough to pay for mortgage unless you've eating into your savings

i have a gf pal. we met in person, through friends, which I have because I don't live with my parents in adulthood like I have down syndrome.

If you're waiting for it to make economic sense before moving out of your parents basement, it'll never happen. Nothing's gonna be a better deal than "free". But if you're wondering why women avoid you like the plague, it's because you haven't taken responsibility for your life and still depend on your parents.

Im sure you will feel vindicated when you are dying alone in a nursing home and paying LaQuisha 100$/hr to abuse you - with no family to complain to.

From reading all these replies, the taxes on buying a mortgage, the interest on the mortgage, HOA fees, utilities, maintenance, school tax, property tax, and homeowner's insurances seem to make homes a potentially costly investment unless you expect the price to appreciate over time, which many anons say historically it does. Also, others pointed out how using money that would otherwise be home equity and not investing in the market with a steady return is a lost opportunity cost. I guess the strategy of saving for a larger down payment, investing in the market, and buying on a housing market dip is the best course of action. Then ideally flipping the home to own more or better property is the next step.

Listen up Jow Forums.

This is how shit works:
>You make more money, you spend more money

You are Jow Forums and you got to be smarter than that. I realize this is asking a lot.

There are many ways to get cheap housing. Pic related is one. Now don't for a second think you can just replicate it and be fine. Find your own way. Guy I used to work with took care of the apartments in the building he was in. He showed apartments and just made sure the place was okay. Didn't even do maintenance, the landlord had many buildings and a team for that. In turn he got cheap ass rent. Again this is just one way.

There are many others ways. Many of you are just staying with your parents cheap. That is another way. Be smart and figure it out.

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All depends on the market you live in.

i live in SoCal, competing against Mexicans who pile in 5 families into a 3 bedroom home.

cost of rent wont decrease cuzz inflation

>one way or another, everybody pays 'rent' whether owning or not.

Rent is always higher than property taxes + maintenance. If you intend to live in a particular area for a long time, renting is a bad choice. You would also be at the mercy of the landlord, who could raise rent at anytime (unless there's rent control) or kick you out using some legal excuse.

At any rate, investing in property is far less riskier than in investing in stocks of unicorn companies. Population will always go up, which means demand for housing will always go up, but stocks can go down in an instant. Property values can drop, but the crash is never permanent.

fuckk...this would actually be an improvement

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Utah reporting. Mexicans flooding the low end properties here too.
Tell your sanctuary state to stop being a terrorist.

for a single dude, id rather keep my 150k

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rent is not always higher then property taxes + maintenance. you need to include the opportunity cost of tying up your capital + the cost of borrowing. in hindsight we can compare the appreciation of the property versus the return of investment in the market. example, if i went all in on amazon stock 3 years ago vs the appreciation of property in my local area.

>I guess the strategy of saving for a larger down payment, investing in the market, and buying on a housing market dip is the best course of action
No, the best strategy is to put the deposit as small as you can, take out a mortgage as large as you can reasonably afford, and take that mortgage as soon as you can. Buying the dip is a meme.

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>rent is not always higher then property taxes + maintenance

^This totally
My parents have an old house and it is a constant maintenance problem, plus they are talking care of my grandma's house and hers is even worse. I mean every weekend they are working on one of the houses.

To give a quick example:
Out upstairs toilet just started leaking sewage into the kitchen when it was flushed. We thought oh just replace the wax ring. They tried that and the cast iron flange just broke! Shit was a total pain to fix.

My rent is $2800 a month in NYC. Could never afford to buy anything. Could move to some shithole and buy something and get paid less than half of my salary if I’m lucky enough to even find a job. Fucked no matter what

Samesies. Good parts of salt lake are 400-500k+.
I'm not dropping 100k+ on down payments and closing costs and all that shit.
I'll keep saving and investing forever waiting for the dip. If there's no dip then who cares because such an expensive house in this area isn't worth it.
I rather rent and travel other countries every so often between leases.

This is avoided by not being an idiot when buying a house and getting it properly inspected

So for us first timers we can get fha loans with 3.5% down. Easy. But then you have to have more insurance for the life of the loan as well as all the interest from having borrowed that down payment amount too.
It's more wasteful, is it not?

i would rather horde cash and buy a big house on auction in full in another state like virginny or ohio

LA here, you mean 10 beaner heads to a 1 bdr apt. The complex next door has slowly been booting out those wetbacks slowly but surely. I love gentrification!

Equity is yours. It's not as ideal as just having the cash to put 20% down but it's better than letting it burn in a fire through renting.

>tfw Ohio finally has its uses

Live in Cbus and the prices for low/mid end multi-unit properties are fantastic, along with decent rent rates for a great ratio. Going to use an FHA loan to buy a multi-unit and owner occupy. Tenants pay my mortgage

From there I will stash more money to buy my next property given I like landlording enough

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there's a lot of risk involved in real estate. You can control for that risk, which makes it a good move for people who do their research, but if you fuck up, and it's easy to fuck up even when you do everything right, you can be on the hook for a lot of money.

Bottom line should probably be: How much more is this gonna make me than if I invested in a vanguard instead? Is it worth the risk and worth for that extra %?