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You are forgetting that people don't buy houses alone, those houses come with mortgages, also known as "renting money", throwing money way, you will never see t
by srtjstjsj 10y ago
You are forgetting that people don't buy houses alone, those houses come with mortgages, also known as "renting money", throwing money way, you will never see that money again, period. Those houses also come with excise taxes, property taxes, insurance premiums, and agent fees.
- GFischer 10y agoFor the U.S., you have these "rent or buy" calculators: http://www.nytimes.com/interactive/2014/upshot/buy-rent-calculator.html?_r=0 http://www.nytimes.com/interactive/2014/upshot/buy-rent-calc... http://www.wsj.com/articles/SB10001424052702303948104579534230618539424 http://www.wsj.com/articles/SB100014240527023039481045795342... Buying seems to be better in most cases but not all. Edit: relevant MrMoneyMustache article, saying how in a very expensive city (Toronto) it's better to rent: http://www.mrmoneymustache.com/2015/07/27/rent-vs-buy/ http://www.mrmoneymustache.com/2015/07/27/rent-vs-buy/ For my country (Uruguay), for almost all houses barring mansions or waterfront properties, if you plan to stay more than a few years, it's better to buy. The rent vs mortgage relationship is ridiculous (and investors love it).