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rent dwellers on the other hand can move whenever they want while home owners are chained to their property. Each time they sell and buy a new property they run

by est31 6y ago

rent dwellers on the other hand can move whenever they want while home owners are chained to their property. Each time they sell and buy a new property they run a risk of buying lower quality than advertised, selling under value, and they do lose money in fees. Also, home ownership doesn't make you immune from gentrification due to property taxes. Especially if you "only" own a flat in a multi storey building, then you have only little influence in your maintenance fees bills. That being said, personally, I still prefer home ownership over renting.

brobdingnagians 6y ago
Brings up a key point; there are pros and cons to each; and, like most things, there are risks to each. The great thing is being able to look at your own situation and preferences and choose which you think you want. I love economics because it is one big decentralized computation for a future that we don't know. The difficulty is when people start cramming one size fits all on everyone, everyone gets the same result, which is usually worse than people choosing according to their own situation and evaluating pros, cons, and risks. The issue I have with a lot of think tanks is they often have an agenda of forcing one size fits all on everybody because they think they are smarter than the collective decentralized decision making of people with skin in the game.
adrianb 6y ago
> home owners are chained to their property As someone who moved across 4 countries in 10 years, I had the same opinion. Then I noticed that people who moved as often as me had no trouble to move out, rent their mortgaged apartment for more than monthly payments or sell it at a profit.
- bena 6y ago
  Yeah, I keep hearing about how homeowners are "chained", but I'm on my second house and I've also rented in between houses. One apartment had an 18 month lease and the other an initial 12 month lease, with the option to renew on an 18 month, 12 month, or month by month basis. That means, unless I was willing to incur heavy penalties, I couldn't move until the lease was up. Even now, we're kind of paying a mortgage and rent because there's a couple months of overlap. Whereas, when I sold my house, I called a realtor, said I wanted to sell and it happened when it happened. We closed in March on our current house, I could sell it today if I wanted. I think home-ownership and rental both have their places. And someone mentioned a housing co-op situation. That's new to me. That's likely worth exploring a bit as well.

by est31 6y ago

brobdingnagians 6y ago

Brings up a key point; there are pros and cons to each; and, like most things, there are risks to each. The great thing is being able to look at your own situation and preferences and choose which you think you want. I love economics because it is one big decentralized computation for a future that we don't know. The difficulty is when people start cramming one size fits all on everyone, everyone gets the same result, which is usually worse than people choosing according to their own situation and evaluating pros, cons, and risks. The issue I have with a lot of think tanks is they often have an agenda of forcing one size fits all on everybody because they think they are smarter than the collective decentralized decision making of people with skin in the game.

adrianb 6y ago

> home owners are chained to their property As someone who moved across 4 countries in 10 years, I had the same opinion. Then I noticed that people who moved as often as me had no trouble to move out, rent their mortgaged apartment for more than monthly payments or sell it at a profit.

bena 6y ago
Yeah, I keep hearing about how homeowners are "chained", but I'm on my second house and I've also rented in between houses. One apartment had an 18 month lease and the other an initial 12 month lease, with the option to renew on an 18 month, 12 month, or month by month basis. That means, unless I was willing to incur heavy penalties, I couldn't move until the lease was up. Even now, we're kind of paying a mortgage and rent because there's a couple months of overlap. Whereas, when I sold my house, I called a realtor, said I wanted to sell and it happened when it happened. We closed in March on our current house, I could sell it today if I wanted. I think home-ownership and rental both have their places. And someone mentioned a housing co-op situation. That's new to me. That's likely worth exploring a bit as well.