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[quote=Anonymous][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]

Many UHNW individuals use rent buy calculators. You don’t become a centimillionaire by being reckless financially. Even without the calculator, they intuit the cost benefit.

And you know what else goes up in retirement in NYC? Coop monthlies. And insurance. And repair costs. And that equity you have tied up isn’t beating the S&P or a multifamily property long term. There are plenty of neighborhood and property types in NY where buying never beats renting, even on an infinity timescale [/quote]

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