Reply to What if we just rent for the long haul...

Forum Index » Real Estate

Reply to "What if we just rent for the long haul..."

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]

When an overwhelming majority, staggeringly overwhelming majority, of higher income, higher net worth people own, not rent, that tells you something. Not a coincidence. 
[/quote]

It tells me they’re not too concerned about what the optimal financial move might be, because they can easily afford to own and they want to own so who cares?

What does it tell you?[/quote]

Not PP. There is no free lunch. Landlords pass on the cost of PITI plus a profit margin to the renter. People who rent and save vs. bying are typically renting much less space or worse amenities. I don’t think housing is a great investment, but you do have to live somewhere and pay for shelter. Also, a house is bought on leverage so for a 400k down payment the house has to appreciate by 30k a year to beat the market long term. And yes $2M houses have  appreciated a lot more than 30k annually. I consider PITI the sunk cost of providing for shelter, no different than rent. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics