GoFuckYourself.com - Adult Webmaster Forum - View Single Post - Is it a generally accepted truth that people who rent are shit?

Socks · 09-17-2010, 01:55 PM

The way I see it, if buying was better off than renting by a large margin, then corporations would be buying up blocks of houses to resell. The two have to be kept close, or an opportunity arises in the market, and there's enough people who can recognize those as it's a profitable business, clearly.

I love renting because of many reasons, mostly that I can up and leave any time I want. I can always come back and rent again if needbe. I don't even want to be in a cellphone contract, let alone a 25 year+ house contract.

No emotional attachment, I feel no desire to upgrade, and fixing I don't pay for. If I had a house, I'd be constantly upgrading/fixing something.

Also I don't have variable gas/water/electricity bills here, I just pay my rent and those services are included.

Then there's just the financials. Most people end up paying 3x what the house costs, or more, by the time the loan is exhausted.

EVEN if you had the cash saved up, taxes paid on it, sitting in a bank... average home here even in the burbs is like $400k. At 5% interest, you'd be making ~$20k on the money. So to buy the house, you're giving up that $20k every year. A $1,500/mo apartment costs $18,000 a year to rent, so in that scenario you could pay your rent and make a small profit on your money, and keep your money saved/invested/diversified.

So if it makes dubious enough sense to buy a house even if you have all the money on hand, how can it make sense to borrow a huge amount of money over 20-40+ years? It just can't.

For the people who made a bunch of money in a few years with their house, they sold in a high market and had to buy somewhere else in a high market too. Unless they started renting or moved down in life, and who does that with a bunch of money in their pocket.

Perhaps the biggest.. My parents bought a small house in 1980 for $50k. It's now worth about $300k. So in 30 years its value increased by 600%. Is it going to be worth $1.8 million in 2,040? I highly doubt it. Which means we can expect diminishing returns by a large percentage as far as housing goes.. it's overpriced as it is.

You have to live somewhere, and everywhere costs money. I think the standard of living and freedom I get with renting works for me.

09-17-2010, 01:55 PM
Socks Confirmed User Industry Role: Join Date: May 2002 Location: Toronto Posts: 8,475	The way I see it, if buying was better off than renting by a large margin, then corporations would be buying up blocks of houses to resell. The two have to be kept close, or an opportunity arises in the market, and there's enough people who can recognize those as it's a profitable business, clearly. I love renting because of many reasons, mostly that I can up and leave any time I want. I can always come back and rent again if needbe. I don't even want to be in a cellphone contract, let alone a 25 year+ house contract. No emotional attachment, I feel no desire to upgrade, and fixing I don't pay for. If I had a house, I'd be constantly upgrading/fixing something. Also I don't have variable gas/water/electricity bills here, I just pay my rent and those services are included. Then there's just the financials. Most people end up paying 3x what the house costs, or more, by the time the loan is exhausted. EVEN if you had the cash saved up, taxes paid on it, sitting in a bank... average home here even in the burbs is like $400k. At 5% interest, you'd be making ~$20k on the money. So to buy the house, you're giving up that $20k every year. A $1,500/mo apartment costs $18,000 a year to rent, so in that scenario you could pay your rent and make a small profit on your money, and keep your money saved/invested/diversified. So if it makes dubious enough sense to buy a house even if you have all the money on hand, how can it make sense to borrow a huge amount of money over 20-40+ years? It just can't. For the people who made a bunch of money in a few years with their house, they sold in a high market and had to buy somewhere else in a high market too. Unless they started renting or moved down in life, and who does that with a bunch of money in their pocket. Perhaps the biggest.. My parents bought a small house in 1980 for $50k. It's now worth about $300k. So in 30 years its value increased by 600%. Is it going to be worth $1.8 million in 2,040? I highly doubt it. Which means we can expect diminishing returns by a large percentage as far as housing goes.. it's overpriced as it is. You have to live somewhere, and everywhere costs money. I think the standard of living and freedom I get with renting works for me.