My thoughts on renting versus buying
milesbarr.me
My thoughts on renting versus buying
1–10 of 318 posts
Re: My thoughts on renting versus buying
#2You forgot the tax advantage and the protection against inflation (if you have to fix rate mortatge).
Re: My thoughts on renting versus buying
#3I am a home owner since 1998 I think that none of you arguments against owning make sense to me. To me your writing reads like following: due to the world gone crazy I can no longer afford to buy house so let's concoct some soul soothing reason and pretend that all is fine.
Re: My thoughts on renting versus buying
#4All I know is my mortgage is $1,800 a month and to rent my place now is at least $6K/month. I love knowing that my monthly payment can't go up.
Re: My thoughts on renting versus buying
#5You forgot the tax advantage and the protection against inflation (if you have to fix rate mortatge).
The tax advantage is only available for people that itemize. Only about 10% of taxpayers do so. Inflation protection is very real and important though.
Re: My thoughts on renting versus buying
#6If renting doesn’t make sense economically, how is it profitable for the landlord? Because it’s almost always profitable for the landlord.
Re: My thoughts on renting versus buying
#7There used to be a world where you could get INTO the investment with almost free money. You can't get a 2% loan and dump it into the stock market. Well you can't do either anymore but you used to be able to :)
Re: My thoughts on renting versus buying
#8I think a better take away from this article is that if you aren’t buying your home like an investment (looking at cash flow and prioritizing financial outcome over all other factors such as distance to work or functionality), then you shouldn’t consider your home one. You’re paying for a place to live and if it happens to be financially sound, great. Otherwise you need to accept that you might lose money on it. Somehow this has been normalized for cars but not homes.
Re: My thoughts on renting versus buying
#9You forgot the tax advantage and the protection against inflation (if you have to fix rate mortatge).
I think he covered these by his mention of "spreadsheets". A good spreadsheet for rent-vs-buy would include the values in the sliders seen on https://www.nytimes.com/interactive/2024/upshot/buy-rent-cal...
Re: My thoughts on renting versus buying
#10I am a home owner since 1998 I think that none of you arguments against owning make sense to me. To me your writing reads like following: due to the world gone crazy I can no longer afford to buy house so let's concoct some soul soothing reason and pretend that all is fine.
Yes and how about also people in older generations who are done paying off mortgages and now live paying just the real estate tax.