484
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 09 Dec 2023
484 points (96.4% liked)
News
23435 readers
683 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 2 years ago
MODERATORS
Aight let's see. Mortgage is a fixed rate over an agreed upon term that ends with you owning the property, rent increases every year, you have no control over the property and you get fucked constantly.
Yup, totally the same thing.
Also my mortgage for my 1/2 acre property with 1500 sqft house is $50 less per month than my 900 sqft poorly constructed "high end" apartment rent was about to spike up to. You know, after renters protections were removed during the pandemic.
Quick edit: furthermore, it took me until I was 30 to buy a house. In that time I spent 170k in rent, when I started renting the property I'm currently living in was worth 140k. That's pretty easy math right there. Just like... Come on.
But… but… but you still have to pay for maintenance and repair.
Ok I’m half kidding, given you still have to pay those things but depending on how the math works it can still be cheaper to own.
It's always cheaper to own given you live an adult life for at least like 15 years. The rub is whether or not you can afford the upfront costs to get a property.
Also you pay for maintenance and repair and taxes and all that nonsense in your rent, it's just one bill instead of multiple.
I mean if you bought in 2021 and sold now you probably still made about 90k American. But you'd be fucked on the interest rates if you tried to buy again.
But if you were a real estate mogul, and sold a bunch of properties, on average you'd make 90k per property over those two years and not be dealing with interest rates, which is why the guy from the article is telling people to rent.
But you do have a point, it's not always. If you bought earlier this year and only intended to stay one year, you're fucked
The average across America have increased by 90k though over that time. Your area is... Strange.
Cost of buying is negligible, it's really just cost of selling. So fine, you'd come out with like 65k
The thing is as a renter you basically pay for maintenance and repair anyway. If as a renter I damage a wall, I pay for it, if I leave the house messy when I vacate I pay for a cleaner out of my bond. If the place is freshly renovated my rent is higher to cover it, if there’s an unforeseen expense like a tap bursts, sure the owner pays for it.. but then my rent goes up 150 a week next year because of “market trends”