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again ,renters are a mixed bag with very wealthy renters and very poor renters and everything in between all lumped together. even lower end homeowners usually have higher incomes and more resourses than the poorest renters ,that is why they are homeowners. of course that study is going to show that.
by cherry picking time frames i can show you time frames homeowners did worse than renters.
just grouping homeowners together and analyzing them is like a space alian going to a hospital and reporting back almost everyone on earth is sick.
homeowners as a group have tended to have more ,earn more and do better if you are just comparing them to renters as a broad group. but they have a house because of it , not the other way round.
people who take world cruises are wealthier than folks who don't, so if you want to be wealthy you have to take a world cruise. same logic.
what creates wealth is discipline. homeownership is a forced discipline to save . if a renter has the same resources and discipline one may not be any better than the other. it is just easier to be forced to save via the home vs being on your own and renting.
any differences are only because renters may lack the discipline or knowledge to invest elsewhere .
Applies only to renters with discretionary income. Renter median income is HALF median homeowner income; most renters are not in a financial position to invest meaningful sums.
Then spend less time on your computer and use that time in a part time job that will net you an increase in income that you can use to improve your situation.
I already have a part time job. Is a sane living environment without drunken rampages and domestic violence too much for me to ask? (The drunk got into regular fights with his girlfriend for three years before they broke up, both of them went to jail twice on DV charges.)
You said you sell online. I didn't know you needed your inventory with you to make a sale. Sell online, make bi-weekly trips to the storage unit to get merchandise, go to the post office or UPS store and ship merchandise....
It's actually way easier to sell online when you have a resident drunk than it is if the drunk was actually in your store disrupting customers.
Um listing photos are very important, the more the better, these are vintage items so condition and grade are important. Need to set up a printer scanner digital camera. Currently I take stuff from storage to a friend's house for listing pictures, but it's slow because that process is dependent on his schedule. If I could do everything from home I could sell more items faster which would also allow me to buy good deals when they appear, which I cannot do now.
I am constantly and totally stressed out in this house when the drunk is around, and since he has no job and no life and no license (too many DUIs) he's always moping around the house. The rest of us either get out of the house as much as possible or hole up in our rooms, it's miserable here. And when everyone holes up in their rooms the electric bill necessarily skyrockets which sets off a drunken rampage.
The only thing I want to point out is this. For some reason, I keep seeing in this thread where some people assume renting saves you from fees like property tax and maintenance. Trust me, you pay them. It's calculated into your rent... landlords aren't running a charity, renting is a business. They are charging enough to cover their costs and make a profit.
Yes and no. There are many factors influencing rental rates, and costs are certainly one of them. However, a landlord cannot charge higher than market rates simply because s/he wants to make a profit. Other factors also come into play, such as local housing supply and demand, local job market, advantages and disadvantages of the particular property. It's not as simple as "Oh, I need a new HVAC. Your rent just went up $500 per month. Oh, my property taxes just went up, make that $600." The tenant will simply move and the unit will sit empty.
Why did the person in your example not buy when rent became more expensive than owning? And why have the property taxes not gone up for your homeowner?
Renters who never buy generally are never able to buy.
What are these "other costs" that youre using to justify your argument? Because Ive owned a home for two years now and haven't put one dime into my house other than the monthly payment and about 40 bucks in paint......
I see. Well, I've been a homeowner since 1989, and I can tell you your house's components are deteriorating and require maintenance. Just because the bill has not come due yet does not mean it isn't accruing. BTW, neglecting regular maintenance usually results in higher repair bills and is generally not a great idea.
Yes and no. There are many factors influencing rental rates, and costs are certainly one of them. However, a landlord cannot charge higher than market rates simply because s/he wants to make a profit. Other factors also come into play, such as local housing supply and demand, local job market, advantages and disadvantages of the particular property. It's not as simple as "Oh, I need a new HVAC. Your rent just went up $500 per month. Oh, my property taxes just went up, make that $600." The tenant will simply move and the unit will sit empty.
with my first rental back in the 1980's i tried charging 50 bucks more a month going from 800 to 850 and i had to go an extra 45 days with out a tenant. hardly worth it and it taught me i can't just charge what i wanted .
I already have a part time job. Is a sane living environment without drunken rampages and domestic violence too much for me to ask? (The drunk got into regular fights with his girlfriend for three years before they broke up, both of them went to jail twice on DV charges.)
No, it is not too much to ask. So, what are you waiting for? Make it happen.
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