4 ms·
I think this needs a bit more nuance. Renting because you can't afford to own is obviously a scam. Financially literate people don't tolerate this sort of thing
by jppittma 3y ago
I think this needs a bit more nuance. Renting because you can't afford to own is obviously a scam. Financially literate people don't tolerate this sort of thing with cars/furniture, but are put in a position with housing where we don't have a choice.
- fallingknife 3y agoWe don't tolerate it for cars and furniture because you can take them with you when you move. If I had to sell my car and buy a new one every time I moved, you can be damn sure I would rather rent one. And buying/selling cars is a lot easier than houses. Another thing to consider is that houses come with a 6% commission to pay the agents. If I have to move a few years later, and can't sell the house for 6% more than I bought it, I have to take a capital loss.