4 ms·
Being able to rent a place to live is good, actually.
by closeparen 5y ago
Being able to rent a place to live is good, actually.
- escapedmoose 5y agoBut not nearly as good as being able to buy it (assuming the single-family, multi-year home that the author is describing). Communities need both options, but the current climate leans far too heavily toward renting in situations when buying would be better for everyone.
- Daishiman 5y agoIt's the opposite; mortgages are extremely cheap versus rent.
- escapedmoose 5y agoYou must be referring to monthly payments, which are one of the smaller hurdles in the path to homeownership.
- deleted 5y ago[deleted]
- duped 5y agoBeing unable to own a place to live is bad
- hansvm 5y agoThe usual argument I see for renting being good is that up-front barriers make home buying hard for a lot of people and that transaction costs make it impractical for short tenures. If those were independently solved somehow would renting still have notable advantages?
- closeparen 5y ago* Other investments may outperform home equity, even taking into account imputed rent, especially if homes are sustainably affordable (read: have no return). * Other investments may be less correlated with your earning potential. * Risk of being underwater. * Risk of an expensive, unexpected maintenance or repair item. * Chores you are no longer paying for, you have to do yourself.