Reply to Question for renters..Aren't you tired of paying someone's mortgage?

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[quote=Anonymous]Most people I know renting aren't paying $3-4K. They're paying $1.5-$2.5K, and they're doing it because they don't have enough yet for a down payment on a house. Sure, sure - they could cut the rent by 25% and live further out and pay $1500, but then they'd need another car/gas/insurance and  spend less time with the kids due the commute. So we'll rent a smaller or crappier place closer in for the $2k for now while we continue to save.

If it was as easy as saying "I feel like I'm throwing money away! I'll buy a house!" We'd all BUY A HOUSE. But you might not realize that 20 years after you did this, financing isn't as easy to get, and with the economy as it is, a downpayment isn't as easy to build.

So maybe that's why more renters don't buy a house. If your tenants are paying $4k a month, then it seems like they could downsize and save more, but I can't speak for them.

To answer your larger question, the answer is: not everyone can afford to buy a house. That's why. It has very little to do with "motivation" as you put it. It has to due to due with money, or lack of it.

I still think you sound snobbish, or you must not know many people who aren't rolling in high salaries or large savings accounts. [/quote]

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