Why Do Fewer Renters Expect to Move?
libertystreeteconomics.newyorkfed.org
Why Do Fewer Renters Expect to Move?
1–10 of 114 posts
Re: Why Do Fewer Renters Expect to Move?
#2[flagged]
Re: Why Do Fewer Renters Expect to Move?
#3It’s getting prohibitively expensive. Before brokers fees were banned in Boston, a $2,000/mo apartment could have cost you $8000 just to move in. That’s for first, last, security and brokers fee. That’s a worst case scenario but even just first and last months rent is $4000. It’s getting outrageous.
Re: Why Do Fewer Renters Expect to Move?
#430 year mortgage is founded partly on the idea that your house will be worth more in the future when you sell it. That you can lock in a lower price now.
Number cannot always go up. We are at the top of the carbon pulse. Financialization has taken us far from the material baseline of the rock we are flying through space on. Debt will only get us so far.
For this and many other reasons, why would you believe a house "as an investment" is a reasonable thing to keep hoping for, especially 30 years from now? If you have even a reasonably stable rental, it's less risk exposure if you can save some money that isn't tied up in a down payment.
Re: Why Do Fewer Renters Expect to Move?
#5[flagged]
evidence?
Re: Why Do Fewer Renters Expect to Move?
#6It's bizarre to me that this is all couched in "expect". This is a financial problem - they have the actual numbers to know whether the responses are rational.
Re: Why Do Fewer Renters Expect to Move?
#730 year mortgage is founded partly on the idea that your house will be worth more in the future when you sell it. That you can lock in a lower price now. Number cannot always go up. We are at the top of the carbon pulse. Financialization has taken us far from the material baseline of the rock we are flying through space on. Debt will only get us so far. For this and many other reasons, why would you believe a house "…
inflation disagrees with your premise, there is no reason why number can't always go up, there are plenty of countries that prove otherwise.
Re: Why Do Fewer Renters Expect to Move?
#8Because you cannot pay market prices if you leave your rent controlled apartment. Once you are out, you never get one again.
Apparently that is beyond the high and mighty Federal Reserve employees who wrote this speculation.
The housing market needs to be socialized.
Re: Why Do Fewer Renters Expect to Move?
#930 year mortgage is founded partly on the idea that your house will be worth more in the future when you sell it. That you can lock in a lower price now. Number cannot always go up. We are at the top of the carbon pulse. Financialization has taken us far from the material baseline of the rock we are flying through space on. Debt will only get us so far. For this and many other reasons, why would you believe a house "…
Even if the house is worth less, the morgage is eventually paid off. Rent has to be paid forever.
I can't even imagine renting when I'm retired and have less money.
Re: Why Do Fewer Renters Expect to Move?
#1030 year mortgage is founded partly on the idea that your house will be worth more in the future when you sell it. That you can lock in a lower price now. Number cannot always go up. We are at the top of the carbon pulse. Financialization has taken us far from the material baseline of the rock we are flying through space on. Debt will only get us so far. For this and many other reasons, why would you believe a house "…
You're falling for the trap of just thinking of buying a house as an investment.
Buying a house can be an investment, but it's also buying a place to live. Even if the home's value merely keeps pace with inflation over 30 years, you've converted a largely fixed housing payment into ownership rather than paying ever-increasing rent indefinitely.