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Metropolitan New York City
Reply to "Private school but rent?"
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[quote=Anonymous][quote=Anonymous]The rent v buy calculus is so skewed towards renting that you shouldn’t buy unless it’s a niche housing type you can’t rent (e.g. prewar park avenue coop). Don’t let a perception of negative stigma push you into buying a condo or coop that won’t appreciate at the rate of inflation and with monthlies that will eat you alive should your circumstances change. [/quote] Except then you have to rent in retirement and rent goes up every year. You also have to live in a rental building. If you’re using a rent/buy calculator you’re not wealthy enough to send kids to privates in Manhattan. A nanny is also more expensive than daycare, and NY private school parents aren’t using daycare. [/quote]
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