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> you need to pay for housing either way. Yes but you don't have to pay the same amounts. There's a reason "rent-or-buy" calculators exist.
by jogjayr 9y ago
> you need to pay for housing either way.
Yes but you don't have to pay the same amounts. There's a reason "rent-or-buy" calculators exist.
- closeparen 9y agoThe insane levels of year-over-year appreciation/rent hikes make any calculator say "buy" in expensive major cities, regardless of the difference in cost today.
- jogjayr 9y agoCitation needed. That's not the case in the SF Bay Area, Manhattan/Brooklyn, Vancouver, or Toronto. The new tax bill's provisions to cap mortgage interest deductions has further tilted the balance against expensive houses.
- com2kid 9y agoOnce owned outright, a home also serves as insurance against economic downturns. Rent, 4 or 5 year economic slump and people are out of a home. Ownership doesn't lead to this. Even mortgages have more forgiveness for late payment than most rental agreements. Multi-generational property ownership also helps. Buy a good house now, and your kids/grand kids have insurance against economic downturns.