Are you okay with renting or do you get sad about it sometimes? (budget, pay)
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stop with this nonsense! there are loads of people with money doing all cash transactions , 30-40% are all cash . read read read what i wrote . NOTHING I AM SAYING APPLIES TO THOSE WITH NO RESOURCES TO CHOOSE .
loads of people have money from the sale of business's , inheritances , law suits , prior investing , sold their home and are deciding whether to buy or rent and invest .. you keep repeating the same thing about people who have no resources to have a choice between buying or renting and investing elsewhere and have no relevance to my posts .
no i don't get mad when we disagree , i get mad when you blatantly lie about what i clearly said despite the fact i said no such thing
stop with this nonsense! there are loads of people with money doing all cash transactions . read read read what i wrote . NOTHING I AM SAYING APPLIES TO THOSE WITH NO RESOURCES TO CHOOSE .
loads of people have money from the sale of business's , inheritances , law suits , prior investing , sold their home and are deciding whether to buy or rent and invest .. you keep repeating the same thing about people who have no no resources to have a choice and no relevance to my posts .
So what's your point here?
I don't think we are talking about people buying cash. They are certainly a significant portion of buyers, but I think the point of this thread is whether or not it's okay/cheaper to rent long-term instead of buying. People keep 'disproving' buying by talking about ridiculous exceptions in NYC, the bay area, etc. even though it doesn't prove a thing about the big picture, general trends.
People who don't have $500 are doing so at their own choice. No, they can't change it today. And no, they can't keep the same lifestyle, but they are in debt because they choose to finance a $5,000 refrigerator instead of paying cash for a $600 one. No, that one transaction on its own isn't the problem, but it's a symptom of the mentality of "I gotta have it and no one pays cash, so why have the cheaper one if I can get the more expensive one, it's only $17 more per month and that's nothing, 0% interest for 2 years means I'll forget I'm making payments on it by the time I need to but won't have it paid off". It's also the student loans they got for a useless degree or didn't even finish college. It's the car payment, credit cards, financed appliances and furniture and home repairs, and more. They CHOOSE to do all that and THEN play the helpless victim card claiming to be stuck in an area they can't afford to live in.
stop with this nonsense! there are loads of people with money doing all cash transactions , 30-40% are all cash . read read read what i wrote . NOTHING I AM SAYING APPLIES TO THOSE WITH NO RESOURCES TO CHOOSE .
loads of people have money from the sale of business's , inheritances , law suits , prior investing , sold their home and are deciding whether to buy or rent and invest .. you keep repeating the same thing about people who have no resources to have a choice between buying or renting and investing elsewhere and have no relevance to my posts .
no i don't get mad when we disagree , i get mad when you blatantly lie about what i clearly said despite the fact i said no such thing
You say the same thing over and over that it's better to rent than invest and then get mad as if you don't know what you type here. It's like all your investors are on here and you are worried and you are worried they will be talking into buying and take their money out of your hands.
People with resources to choose can choose to rent, the vast majority of people rent because they can't buy or think they can't buy.
My point ?... my point is this generalization that somehow all renters are losers or are paying for nothing is false ..
It is an individual issue and what determines whether you do better or worse as a renter is what you do as as an alternative investment .it applies to loads of people who sell property and then have to decide if they want to buy another house or rent and invest in potentially more lucrative investments ...
You say the same thing over and over that it's better to rent than invest and then get mad as if you don't know what you type here. It's like all your investors are on here and you are worried and you are worried they will be talking into buying and take their money out of your hands.
People with resources to choose can choose to rent, the vast majority of people rent because they can't buy or think they can't buy.
Show me where I said everyone is better off renting and investing .. I already called you out on it . I challenge you to show us where I ever stated such a thing where one size fits all.
My point ?... my point is this generalization that somehow all renters are losers or are paying for nothing is false ..
It is an individual issue and what determines whether you do better or worse as a renter is what you do as as an alternative investment .it applies to loads of people who sell property and then have to decide if they want to buy another house or rent and invest in potentially more lucrative investments ...
It is not a one size fits all situation ,ever.
Except no one has asked, "Should I buy a house or invest?" Even then, they should buy the house in most cases.
You are partly right, there are certain circumstances where it makes perfect sense to rent. But, the main question of this thread is whether in general, not for his or her situation, but in general, is it okay to rent for decades instead of buying. The answer to that question is no, it's better to buy, not rent for decades.
I think the point of this thread is
whether or not it's okay/cheaper to rent long-term instead of buying.
The main key is in HOW MUCH OF your net income is spent on housing.
Keep it at the correct/best level and the own vs rent question almost evaporates.
The next key is in HOW MUCH OF your gross income is going to save/invest options.
Keep that at the correct/best level and the own vs rent question completely evaporates.
Too few do either of these strategies at the correct/best level.
Insisting on living in objectively high RE/COL areas... makes that just about impossible.
The main key is in HOW MUCH OF your net income is spent on housing.
Keep it at the correct/best level and the own vs rent question almost evaporates.
The next key is in HOW MUCH OF your gross income is going to save/invest options.
Keep that at the correct/best level and the own vs rent question completely evaporates.
Too few do either of these strategies at the correct/best level.
Insisting on living in objectively high RE/COL areas... makes that just about impossible.
I don't agree with this. No matter how good your ratios are, you have a housing cost. That housing cost can go to owning or renting. Buying is also investing. The only way what you say would work out is if the rent is so much cheaper than buying that the difference allows you to invest at a rate that outpaces owning real estate, which is not a safe assumption at all. Renting the same place won't be cheaper than buying.
Yes, you can rent reasonably. Yes, you can invest and rent at the same time. But that still won't end your housing payment in 15-30 years AND keep it from going up. Those also throw off any assumptions you may make about exceptional rents and investing returns.
No matter how good your ratios are, you have a housing cost.
Yes, you can invest and rent at the same time.
But that still won't end your housing payment in 15-30 years
It doesn't have to.
What matters is A) that your investment pile grows over those same 15-30 years
and B) that you can continue renting at the correct/level vs your NET income at that later time.
It doesn't have to.
What matters is A) that your investment pile grows over those same 15-30 years
and B) that you can continue renting at the correct/level vs your NET income at that later time.
it is a concept they either can't understand or don't want to understand . i gave up here
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