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Most people don’t own the same house for 30 years so the example doesn’t really match reality. On average a mortgage is paid off between years 7-9 sometimes by a refinance and others by selling which often results in a new mortgage
... but I will be guaranteed to lose money by renting.
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Originally Posted by Ziggy100
No because I’m paying less than a renter per month. I’m the one with the extra income per month and I’m the one guaranteed to be both rent and mortgage free in another few years, then my cost will be negligible. My cost are fixed to the day I started my mortgage while yours will always be indexed for inflation. Your rent will not be the same every month for 30 years.
You are attempting to creatively redefine what a "loss" is in order to argue your point of view. In the previous post you said renting is a loss. This is only the case if you ignore the benefit of having a roof over one's head. And now you are saying that owning is beneficial because you are assuming you must have a roof over your head one way or the other.
You cannot have it both ways.
Another way of looking at this is that if you say owning is not a loss when it costs less than rent, then you must also, to be consistent, say renting is not a loss because renting is not more than renting!
Either you are talking about the cost relative to rent, or you are talking about the cost in absolute terms.
The fact that you have to be inconsistent with your definition of "loss" speaks volumes about the validity of your argument.
You aren’t defining capitalism or pretty much defining it and you couldn’t be more off base with the definition. You are entirely clueless on how things actually work. Im a homeowner btw and I think I’ve mentioned it multiple times in this thread.
Then you should be renting. You’re not following your own advice.
Sure they are. I might need a new roof or hvac within 30 years, but I can amortize that into my cost.
Sorry you are lost. Your cost to own are never fixed. Insurance, tax and maintenance make this impossible to be true. Again you keep up with nonsense even when it’s clear you are wrong
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I can even get a tax deduction on the interest of a home equity line of credit to pay for it if I wanted to.
Whoa whoa whoa is this a bit of that over selling I was speaking of? Yes yes it is exactly. Thanks for accepting it and walking right into it for me.
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Regardless, it’s a drop in the bucket compared to the equity and appreciation I’m making. In another few years my mortgage cost is reduced to just insurance and taxes so I’m good either way.
I think this actually translates to “I know my cost aren’t fixed even though I just tried to argue they were”
You are attempting to creatively redefine what a "loss" is in order to argue your point of view. In the previous post you said renting is a loss. This is only the case if you ignore the benefit of having a roof over one's head. And now you are saying that owning is beneficial because you are assuming you must have a roof over your head one way or the other.
You cannot have it both ways.
Another way of looking at this is that if you say owning is not a loss when it costs less than rent, then you must also, to be consistent, say renting is not a loss because renting is not more than renting!
Either you are talking about the cost relative to rent, or you are talking about the cost in absolute terms.
The fact that you have to be inconsistent with your definition of "loss" speaks volumes about the validity of your argument.
And you’re accusing me of being creative?
Call it whatever you want, but you need a home. You can either pay someone else’s mortgage so you can use theirs or you can pay for your own and cut out the middle man.
Then you should be renting. You’re not following your own advice.
You just lack the ability to read and comprehend things because I’ve never said people shouldn’t buy so I’m not really sure what advice you think I’ve given that I’m not following. The financial benefits to owning are oversold, period. For the millionth time that doesn’t mean there aren’t financial benefits to owning just that the benefits are oversold every day
The level of stupidity on this thread is making my head hurt. Renting is a guaranteed loss. Most of the time buying is not a loss or at least is a MUCH smaller loss. These are facts, this little group of trolls here are the only people I've ever heard try to argue otherwise. This conversation also has zero to do with the OP, lol.
Call it whatever you want, but you need a home. You can either pay someone else’s mortgage so you can use theirs or you can pay for your own and cut out the middle man.
Paying rent is not paying someone else's mortgage. It is paying for the temporary use of someone else's property. Whether the landlord has a mortgage or not has no effect on the rent I pay, as the latter is set by the rental market.
No it isn’t, your comparison you attempted to make doesn’t match what people actually do. It’s fwr from irrelevant
You’re going to have to keep it simple if you want to make an apples to apples comparison. Yes people buy more house than they need, yes they upgrade and refinance and add pools and buy even bigger and bigger houses and more acreage. That’s not at all a rent vs own argument. Claiming “it’s not what people actually do” is just purposely trying to muddy the waters to obscure what’s otherwise fairly straight forward.
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