Anonymous wrote:

Anonymous wrote:Give me the numbers. I did the calculation on 2-bedroon in my building. Buying was never a better option than renting for me. Long story short, after 30 years, I could buy the unit I rent out cash and the one next door and have money left over.
It isn't even the interest rate. It is about the lost opportunity cost of the down payment and then the extra I would have to pay every month for 30 years. Not to mention, never a chance to downgrade for a year if money gets tight. I'd rather do that than get a roommate.
I know a lot about investing and my returns are very high. Not ready to tie down so much cash. If owning a home teaches you a lot about real estate and upkeep, go for it.

Here are the parameters I used:
House price: Anywhere from 650K to 950K, 20% down
Rent: 3,500/mo, appreciating 2% per year
Mortgage rate: 6.63% (default)
Investment return: 5%
Homeowners insurance: 300/mo
HOA: 300/mo

Anonymous wrote:

Anonymous wrote:Buying is almost always better than renting, provided it's a good buy and you take care of it.

People who rent are also often the types who destroy their own things via neglect and bad behaviors, which is why renting is often better for them, despite them never building equity.

What are you talking about?! I have owned and am currently renting after my divorce. I live in a HCOL and the home I can get by renting is much bigger and nicer than if I bought.