3 ms·

So you join a queue, to rent and pay someone to live somewhere…? That sounds, odd to me. Most people buy homes because (1) it financially makes sense (you ca

So you join a queue, to rent and pay someone to live somewhere…? That sounds, odd to me. Most people buy homes because (1) it financially makes sense (you can sell and profit off the asset, further often the interest is tax deductible- depending where you live) (2) legacy. Owning a place let’s you pass it to children. Renting means the house goes to the next tenant The people who often “win” in these situations are the land lords. They now have a queue of people (paying to be in the queue), probably near 100% occupancy, and will make small increases to rent every year or two.

fredsir 4y ago
A lot of people never buy a home. And to my knowledge the number of people who will never be able to afford to buy a home is only increasing. So yes indeed, renting is not my preferred way of dealing with housing in our society, but it is the reality for a lot of people.
- lettergram 4y ago
  It depends where you live and if you’re willing to move. A friend of mine couldn’t afford a house in SF, so he bought 3 elsewhere and the rent income paid for the mortgage on his 4th. People can always move and make it work. I’ve seen the poorest people I know buy a few acres and quite literally camp as they build a house by hand. The reality, is people want to rent. While it blows my mind, I agree it’s the reality (people increasingly renting). However, in my opinion, it’s because they don’t have the drive to build wealth and be independent; self-reliant; etc.
  - fredsir 4y ago
    That’s an overly simplistic and very rosy eyed take in my opinion.
  - seanmcdirmid 4y ago
    I spent 9 years renting, paying 6-7k RMB for an apartment that was selling for 8 million RMB. Even though I didn’t build wealth through housing, I was able to save a lot because rents were cheap where I lived and I didn’t buy. This works in markets where rents are cheap and sale prices are high (most of China actually), you have to do the math, “buy at any cost” is not a good answer.
ilyt 4y ago
also (3) not having to have to ask owner to do anything in the house in most cases any changes you need to get permissions, some don't even allow pets. (4) It just doesn't feel good to pay monthly to increase someone's else wealth, with no benefit to society or anyone else.

fredsir 4y ago

A lot of people never buy a home. And to my knowledge the number of people who will never be able to afford to buy a home is only increasing. So yes indeed, renting is not my preferred way of dealing with housing in our society, but it is the reality for a lot of people.

lettergram 4y ago
It depends where you live and if you’re willing to move. A friend of mine couldn’t afford a house in SF, so he bought 3 elsewhere and the rent income paid for the mortgage on his 4th. People can always move and make it work. I’ve seen the poorest people I know buy a few acres and quite literally camp as they build a house by hand. The reality, is people want to rent. While it blows my mind, I agree it’s the reality (people increasingly renting). However, in my opinion, it’s because they don’t have the drive to build wealth and be independent; self-reliant; etc.
- fredsir 4y ago
  That’s an overly simplistic and very rosy eyed take in my opinion.
- seanmcdirmid 4y ago
  I spent 9 years renting, paying 6-7k RMB for an apartment that was selling for 8 million RMB. Even though I didn’t build wealth through housing, I was able to save a lot because rents were cheap where I lived and I didn’t buy. This works in markets where rents are cheap and sale prices are high (most of China actually), you have to do the math, “buy at any cost” is not a good answer.

ilyt 4y ago

also (3) not having to have to ask owner to do anything in the house in most cases any changes you need to get permissions, some don't even allow pets. (4) It just doesn't feel good to pay monthly to increase someone's else wealth, with no benefit to society or anyone else.