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Cars are expensive purchases. So there's a competitive marketplace around leasing them. Leasing housing - i.e. rent-to-own - could solve the need to save for a
by petra 7y ago
Cars are expensive purchases. So there's a competitive marketplace around leasing them.
Leasing housing - i.e. rent-to-own - could solve the need to save for a large down-payment.
Why isn't there a competitive and fair marketplace there ?
- ummonk 7y agoSomething like this? https://zerodown.com https://zerodown.com
- dazc 7y agoHere in the UK where 'rent to own' is a concept that exists but has never quite taken off, the traditional business model is to borrow money to build houses and then sell as soon as possible to recoup the investment. Often the buyers will then rent out the house to someone else at a premium. It's a hugely inefficient process that results in poor build quality and high costs. Build-to-rent is an option that mass-housebuilders are catching on to (maybe 15 years too late) but there is still resistance to changing existing business models. I believe the real problem is that people like to own the house they live in and will pay any price to achieve this. In a bubble of ever increasing house prices though, who can blame them?