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> becoming a renter again and losing a much larger chunk of their paycheck every month to housing Except it is now cheaper to rent than to own[1]. If you have

> becoming a renter again and losing a much larger chunk of their paycheck every month to housing Except it is now cheaper to rent than to own[1]. If you have to move for a job, you rent for at least a year if not a few years as you get a feeling your job stability. Of course, the main point stands that you can be fired at any time, which is why you never buy a house when affordability is at an all-time low since the crash[2]. [1] https://jbrec.com/insights/demand-shifting-from-owning-to-renting/ https://jbrec.com/insights/demand-shifting-from-owning-to-re... [2] https://www.atlantafed.org/center-for-housing-and-policy/data-and-tools/home-ownership-affordability-monitor https://www.atlantafed.org/center-for-housing-and-policy/dat...

JohnFen 3y ago
> Except it is now cheaper to rent than to own I've noticed that over the long haul (in my area, anyway), it's neither cheaper nor more expensive to rent vs own. In the short term, one can be more expensive than the other, though. But the big difference is that you're building equity if you're buying, and you're not if you're renting. So which is better, financially speaking, depends a lot on what you're trying to accomplish.
- jandrewrogers 3y ago
  > But the big difference is that you're building equity if you're buying, and you're not if you're renting. You build equity when you are renting, just not in the housing market.
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poulsbohemian 3y ago
>Except it is now cheaper to rent than to own[1]. Real estate is entirely local, such that making broad generalizations like this is detrimental. In some markets it may be better to rent, in others it is better to buy. Regardless of the cost, availability is also a factor - in my market, you might as well buy if you are qualified, as the market for rental properties is even tighter than buying and rents have increased faster than home prices.

JohnFen 3y ago

> Except it is now cheaper to rent than to own I've noticed that over the long haul (in my area, anyway), it's neither cheaper nor more expensive to rent vs own. In the short term, one can be more expensive than the other, though. But the big difference is that you're building equity if you're buying, and you're not if you're renting. So which is better, financially speaking, depends a lot on what you're trying to accomplish.

jandrewrogers 3y ago
> But the big difference is that you're building equity if you're buying, and you're not if you're renting. You build equity when you are renting, just not in the housing market.
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poulsbohemian 3y ago

>Except it is now cheaper to rent than to own[1]. Real estate is entirely local, such that making broad generalizations like this is detrimental. In some markets it may be better to rent, in others it is better to buy. Regardless of the cost, availability is also a factor - in my market, you might as well buy if you are qualified, as the market for rental properties is even tighter than buying and rents have increased faster than home prices.