Earlier quoted context omitted.
Nope. That's why the no dependents part is essential. If you are single and willing to live with roommates, you will be able to navigate the "high cost of living" pretty successfully. I'm living quite comfortably in San Francisco and spending a fraction of what I was spending in Texas. Why? - No car. No gas. No upkeep. No payments. No insurance. No inspections. No car. - Roommates. I HATE living alone so this was a n…
>They were wrong, and I was a fool for listening to them instead of exploring it for myself. Don't make my mistakes. They were right if you ever want to have a family. You are building no equity in rent so you will essentially have to leave and start over somewhere else to have kids. Your story is fine as long as it ends with you being single and alone without any real assets.
Since I'm annually paying around 3% of the market price of my apartment, and you're paying X% interest annually on your mortgage (minus tax breaks, but plus maintenance costs, etc.), there is some value of X at which I'm not really losing much money by renting, right?