3 ms·

The Extreme Renters Who Own Nothing

6 points by lxm 2y ago

theandrewbailey 2y ago
https://archive.ph/wPtYG https://archive.ph/wPtYG
theandrewbailey 2y ago
> For her phone, Brooks is on a plan under which she pays $28 a month. Buying it outright would easily cost $900 or more up front, plus she likes the excitement of being able to upgrade to a new model every few years. > “Maybe one day that will change, but I think it’s more realistic for me,” said Brooks, 23. “Life is just unpredictable.” Is her life so unpredictable that she don't know if she'll need a phone next month?
- beretguy 2y ago
  People are weird. You can buy decent, refurbished phone for ~$100 +/- on eBay.
- jerlam 2y ago
  Running the numbers, paying $28/month to rent the phone doesn't seem that different than what most people who buy "free phones" with a two year contract. But at the end of those two years, people in the latter stop paying the "rental fee" and have a phone that's worth a few hundred, which they can sell or trade in for another phone on a two year contract.
- deleted 2y ago
  [deleted]
- marssaxman 2y ago
  Perhaps her life is so unpredictable that she might need that $900 next month, and would regret having committed it to the phone purchase.
hindsightbias 2y ago
What you own owns you.
quantified 2y ago
From a resource point of view, renting can be more efficient for things that are used infrequently. Fewer objects need to be created, the costs are in the transport to renters (cars, cameras, etc.) For things used all the time, renting fits certain usage patterns. You can't update a rental dwelling to your tastes, for example. And of course, if you return something in not-so-good shape, you will lose security deposits and possibly have other financial damage. It's always other people's stuff, often a corporation with corporate lawyers.
jerlam 2y ago
Other than the 20-something couple mentioned in the first paragraph, none of the people mentioned I would categorize as remotely extreme. Leasing a car or renting home repair tools is not out of the ordinary. It is not surprising that someone who expects to move often, or has a small home, would strive to avoid permanently owning a lot of physical objects. Maybe this is just the audience that WSJ writes for.

6 points by lxm 2y ago

https://archive.ph/wPtYG https://archive.ph/wPtYG

> For her phone, Brooks is on a plan under which she pays $28 a month. Buying it outright would easily cost $900 or more up front, plus she likes the excitement of being able to upgrade to a new model every few years. > “Maybe one day that will change, but I think it’s more realistic for me,” said Brooks, 23. “Life is just unpredictable.” Is her life so unpredictable that she don't know if she'll need a phone next month?

beretguy 2y ago
People are weird. You can buy decent, refurbished phone for ~$100 +/- on eBay.
jerlam 2y ago
Running the numbers, paying $28/month to rent the phone doesn't seem that different than what most people who buy "free phones" with a two year contract. But at the end of those two years, people in the latter stop paying the "rental fee" and have a phone that's worth a few hundred, which they can sell or trade in for another phone on a two year contract.
deleted 2y ago
[deleted]
marssaxman 2y ago
Perhaps her life is so unpredictable that she might need that $900 next month, and would regret having committed it to the phone purchase.

hindsightbias 2y ago

What you own owns you.

quantified 2y ago

From a resource point of view, renting can be more efficient for things that are used infrequently. Fewer objects need to be created, the costs are in the transport to renters (cars, cameras, etc.) For things used all the time, renting fits certain usage patterns. You can't update a rental dwelling to your tastes, for example. And of course, if you return something in not-so-good shape, you will lose security deposits and possibly have other financial damage. It's always other people's stuff, often a corporation with corporate lawyers.

jerlam 2y ago

Other than the 20-something couple mentioned in the first paragraph, none of the people mentioned I would categorize as remotely extreme. Leasing a car or renting home repair tools is not out of the ordinary. It is not surprising that someone who expects to move often, or has a small home, would strive to avoid permanently owning a lot of physical objects. Maybe this is just the audience that WSJ writes for.