U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 04-12-2021, 08:15 AM
 
12,463 posts, read 6,807,007 times
Reputation: 20151

Advertisements

Quote:
Originally Posted by mathjak107 View Post
except many dont have choices , while still others dont realize they have choices..

this renters are losers thing and renters are throwing away money statements can take someone who really does not want to own and has resources to buy or invest but they are brow beat in to thinking buying is the only way from these one size fits all comments we keep seeing .
It's the real estate equivalent of "having" to go to college to be a success. In fact, many make more money with 2-year community college associate degrees in the applied sciences, trade or vocational school, or even apprenticeships, but there is unfortunately still that societal/cultural stigma which doesn't make much sense.

I know two lifelong renters (they don't rent together or even know each other). Both are older, now in their 60s, are bachelors and childless, and retired with pensions from secure careers in which they made decent livings. Neither ever owned a home nor ever wanted to; they pay their rent on time or early, both are fastidious in their habits and keep up the rentals in which they take pride.

A landlord's dream!

Last edited by otterhere; 04-12-2021 at 08:27 AM..
Rate this post positively Reply With Quote Quick reply to this message

 
Old 04-12-2021, 08:16 AM
 
Location: East Coast of the United States
22,140 posts, read 23,334,796 times
Reputation: 18740
Quote:
Originally Posted by mathjak107 View Post
except many dont have choices because they lack the resources to buy , while still others dont realize they have choices..

this renters are losers thing and renters are throwing away money statements can take someone who really does not want to own and has resources to buy or invest but they are brow beat in to thinking buying is the only way from these one size fits all comments we keep seeing .
I disagree with the sentiment that renters are losers. Some people don't want to deal with the hassle of repairing and maintaining a property. They want to keep things simple and let others deal with the other stuff. I can understand that point of view.

On the other hand, homeowners can upgrade their house, remodel kitchens, install windows, landscape with fountains, rent out their house, etc., and basically do whatever they want. Some people like to do those things and I can understand that point of view also.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-12-2021, 08:41 AM
 
Location: Tierra del Encanto
1,742 posts, read 1,444,473 times
Reputation: 2298
Quote:
Originally Posted by BigCityDreamer View Post
I disagree with the sentiment that renters are losers. Some people don't want to deal with the hassle of repairing and maintaining a property. They want to keep things simple and let others deal with the other stuff. I can understand that point of view.

On the other hand, homeowners can upgrade their house, remodel kitchens, install windows, landscape with fountains, rent out their house, etc., and basically do whatever they want. Some people like to do those things and I can understand that point of view also.
He's not saying renters are losers; in fact, the opposite. But I agree with your opinion that people have different needs at different times and will make choices others don't agree with.

There's too much strutting and horn-tooting in this thread in general.

I am a homeowner of a fixer and accept the burdens I willingly took on. I feel that having projects to focus on at home has been helpful during the pandemic, but it's a long-term commitment that won't end when covid does.

My friend is a renter for about 20 years in the same place. He makes a good salary and had he bought something in his city years ago, he'd he pretty house rich by now.

OTOH, he's not the type to accept the burdens of owning property, and I can see he's a lot more sociable and has more fun than me.

To repeat an earlier point, homeowners have a higher net worth than renters, but at a cost of time, effort and it certainly cuts into your fun.

It's a very personal choice, and I wouldn't diss anyone's choice.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-12-2021, 10:58 AM
 
91,732 posts, read 89,054,137 times
Reputation: 66302
Quote:
Originally Posted by BigCityDreamer View Post
I disagree with the sentiment that renters are losers. Some people don't want to deal with the hassle of repairing and maintaining a property. They want to keep things simple and let others deal with the other stuff. I can understand that point of view.

On the other hand, homeowners can upgrade their house, remodel kitchens, install windows, landscape with fountains, rent out their house, etc., and basically do whatever they want. Some people like to do those things and I can understand that point of view also.
Not what I said at all ......I personally am insulted when people state that renters are losers for throwing money away ....I am a prime example as to why they are wrong and I don’t like being called a loser for renting
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-12-2021, 11:06 AM
 
Location: OC
9,801 posts, read 5,766,470 times
Reputation: 7933
Quote:
Originally Posted by mathjak107 View Post
No point discussing this with you any further...you have your mind set and that’s that.

I can tell you my experience was no comparison.

selling , renting and investing blew away keeping our old house. We would never have had the multiple. 7 figures we do today , Had we just kept the house and didn’t deploy that money elsewhere
I feel like you're using this thread to brag about your elite investing skills. Great. What if buying is actually cheaper than renting?
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-12-2021, 11:08 AM
 
Location: OC
9,801 posts, read 5,766,470 times
Reputation: 7933
Quote:
Originally Posted by Airborneguy View Post
Mathjak, did you mention yet that you've enjoyed a rent-stabilized apartment for quote some time now?

Your situation is highly unique and you really should make that clear when discussing this matter. For the vast majority of people, homeownership beats renting hands down. As others have said, the statistics bear this out.
Oh. Didn't know that lol. Ok, that explains things as well. A millionaire living in a rent controlled place.

16 years ago I was renting an apartment for 600 dollars a month.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-12-2021, 11:36 AM
 
Location: East Coast of the United States
22,140 posts, read 23,334,796 times
Reputation: 18740
Quote:
Originally Posted by manekeniko View Post
He's not saying renters are losers; in fact, the opposite. But I agree with your opinion that people have different needs at different times and will make choices others don't agree with.

There's too much strutting and horn-tooting in this thread in general.

I am a homeowner of a fixer and accept the burdens I willingly took on. I feel that having projects to focus on at home has been helpful during the pandemic, but it's a long-term commitment that won't end when covid does.

My friend is a renter for about 20 years in the same place. He makes a good salary and had he bought something in his city years ago, he'd he pretty house rich by now.

OTOH, he's not the type to accept the burdens of owning property, and I can see he's a lot more sociable and has more fun than me.

To repeat an earlier point, homeowners have a higher net worth than renters, but at a cost of time, effort and it certainly cuts into your fun.

It's a very personal choice, and I wouldn't diss anyone's choice.
As fas as having fun goes, a homeowner usually has more space for things like a home theater, pool table, music room, basement bar, outdoor deck, gazebo, etc.

So, it depends on what you like to do for fun or entertain guests.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-12-2021, 11:39 AM
 
91,732 posts, read 89,054,137 times
Reputation: 66302
Quote:
Originally Posted by Gaylord_Focker View Post
Oh. Didn't know that lol. Ok, that explains things as well. A millionaire living in a rent controlled place.

16 years ago I was renting an apartment for 600 dollars a month.
Learn the difference between rent controlled and rent stabilized before making snide comments ...they are not the same and rent stabilized can be at market value for your information which we are .

Rent stabilized has Nothing to do with income or assets at all so you may want to learn first before commenting.

Rent stabilized apartments are a fact of life in nyc since just about any rental building over 5 family is stabilized but that has nothing to do with what you pay .

Rent controlled apartments are a whole other thing and rents are artificially low ..only 8% of all rentals in nyc and the boroughs are rent controlled.. over 60% are rent Stabilized

Last edited by mathjak107; 04-12-2021 at 12:15 PM..
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-12-2021, 11:42 AM
 
91,732 posts, read 89,054,137 times
Reputation: 66302
Quote:
Originally Posted by Gaylord_Focker View Post
I feel like you're using this thread to brag about your elite investing skills. Great. What if buying is actually cheaper than renting?
It can be ..so that is a ridiculous question



But it still does not mean renters don’t do well when they have the resources to invest and the knowledge to invest ..

but from most of the comments here owners seem to believe their own bull out of ignorance of that fact and don’t want to consider what else is done with the money after someone sells a property or business and rents while deploying that lump sum elsewhere


The combo of renting and investing elsewhere can certainly surpass the outcome of buying ... so yeah , there are renters that do come out much farther ahead just like their are owners who come out a head .


The fact is renters are a poorer group than owners over all and that is why many rent , they have no choice ...so you certainly will see many more poorer Renters than homeowners who are a wealthier group over all ..

But renters range from very poor to very wealthy and you cannot comment on renters with a broad stroke of a comment

Last edited by mathjak107; 04-12-2021 at 11:54 AM..
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-12-2021, 11:47 AM
 
Location: Tierra del Encanto
1,742 posts, read 1,444,473 times
Reputation: 2298
Quote:
Originally Posted by BigCityDreamer View Post
As fas as having fun goes, a homeowner usually has more space for things like a home theater, pool table, music room, basement bar, outdoor deck, gazebo, etc.

So, it depends on what you like to do for fun or entertain guests.
True, but that's not the type of "fun" I was referring to. A house, especially an older house, is like a sick, needy child constantly in need of help. For example, last month a broken sewer exit pipe sent gray water into my basement and the whole line had to be diverted. The plumber charged me well over $1K and it took 3 days.

OTOH, my property tax bill second half is due in May and it's under $1,100 for 6 months, so we good. Renters can compare that to their monthly obligation.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate
Similar Threads

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top