3 ms·

Well you have to live somewhere, right? Either buying or renting - unless you can find free room and board (in that case, invest in the stock market instead).

• nanidin 6y ago
  I used the NYT calculator and eventually came to the conclusion that renting beat buying in a MCOL area (Kansas City.) I live in the city center with my SO, rent is $2100 split 2 ways for a 1500sqft 2/2 in a nice building with a rooftop pool. There simply aren’t comps that can compete in terms of location, size, and amenities that don’t also have a $1200/month HOA and $900+/month taxes, interest, and insurance. In 5 years rent has gone up $50, meanwhile my 401k and other investments have maintained 10% year over year returns and I could now afford to outright buy houses and condos I was interested in 5 years ago. Or I could move out to the ‘burbs on a $600-900/month mortgage. Now, if only I could work somewhere that I felt like I was changing the world in ways I’m more interested in (high tech vs automotive), I would feel less pull to uproot in my mid-30’s for a place where Google or Amazon are hiring.