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You're not obligated to buy property every time you move. I've lived in twelve places in four different countries over the past decade and didn't buy any of the

You're not obligated to buy property every time you move. I've lived in twelve places in four different countries over the past decade and didn't buy any of them.

potato3732842 2y ago
People who have become homeowners almost never want to go backwards.
- toomuchtodo 2y ago
  Exactly. I’m going to give up housing and payment security for an at will job while being exposed to brutalist rental markets that try to “juice the hog”? Absolutely not. https://substack.perfectunion.us/p/this-corporate-landlord-owes-tenants https://substack.perfectunion.us/p/this-corporate-landlord-o... https://www.ftc.gov/system/files/ftc_gov/pdf/1-Complaint_0.pdf https://www.ftc.gov/system/files/ftc_gov/pdf/1-Complaint_0.p... https://www.ftc.gov/news-events/news/press-releases/2024/09/ftc-takes-action-against-invitation-homes-deceiving-renters-charging-junk-fees-withholding-security https://www.ftc.gov/news-events/news/press-releases/2024/09/...
- deleted 2y ago
  [deleted]
lumost 2y ago
The financial outcome for not buying property adds up after ~10 years. On paper, I've been paid to live in my current residence every year that I've owned due to housing appreciation. If I had rented - the financial delta compared to renting would be between ~400k-1MM dollars over 10 years depending on how one counts. It would require a very large income to offset the financial cost of renting a home, which would in turn reduce the likelihood that I would take a financial risk on a new startup or push harder at work.
- AlchemistCamp 2y ago
  Your post I was responding to was complaining of financial pain in buying a home. Now you're saying it's a financial benefit. Either way, what I'm saying is that you have a choice. Also, it's worth pointing out that your 10 year sample happened to be one during which housing construction was at historically low rates, which lead to exceptional increases in housing prices. There are other 10 year spans in which your outcome would have been very different.
  - toomuchtodo 2y ago
    There is currently a shortage of ~3-4 million housing units in the US. This shortage will continue into the future due to a shortage of people to build housing, the cost to build, and a population that remains steady due to immigration inflows. Buying in the US will remain a net positive financial decision well into the future based on these housing fundamentals.
    - AlchemistCamp 2y ago
      Many have had similar confidence in the past, including during the early-mid 2000s, right before the crash.
      - toomuchtodo 2y ago
        A black swan event caused by unique financial engineering conditions that won’t occur again is not a compelling rebuttal.
        AlchemistCamp 2y ago
        Before 2008, there was a bust in 1980. Most attribute that to rising interest rates at the time. Given that the prime rate now is just 40% of what it was in 1980, it's not like interest rates can't rise enough to impact the housing market at some point in the future.
  - 2y ago

You're not obligated to buy property every time you move. I've lived in twelve places in four different countries over the past decade and didn't buy any of them.

potato3732842 2y ago

People who have become homeowners almost never want to go backwards.

toomuchtodo 2y ago
Exactly. I’m going to give up housing and payment security for an at will job while being exposed to brutalist rental markets that try to “juice the hog”? Absolutely not. https://substack.perfectunion.us/p/this-corporate-landlord-owes-tenants https://substack.perfectunion.us/p/this-corporate-landlord-o... https://www.ftc.gov/system/files/ftc_gov/pdf/1-Complaint_0.pdf https://www.ftc.gov/system/files/ftc_gov/pdf/1-Complaint_0.p... https://www.ftc.gov/news-events/news/press-releases/2024/09/ftc-takes-action-against-invitation-homes-deceiving-renters-charging-junk-fees-withholding-security https://www.ftc.gov/news-events/news/press-releases/2024/09/...
deleted 2y ago
[deleted]

lumost 2y ago

The financial outcome for not buying property adds up after ~10 years. On paper, I've been paid to live in my current residence every year that I've owned due to housing appreciation. If I had rented - the financial delta compared to renting would be between ~400k-1MM dollars over 10 years depending on how one counts. It would require a very large income to offset the financial cost of renting a home, which would in turn reduce the likelihood that I would take a financial risk on a new startup or push harder at work.

AlchemistCamp 2y ago
Your post I was responding to was complaining of financial pain in buying a home. Now you're saying it's a financial benefit. Either way, what I'm saying is that you have a choice. Also, it's worth pointing out that your 10 year sample happened to be one during which housing construction was at historically low rates, which lead to exceptional increases in housing prices. There are other 10 year spans in which your outcome would have been very different.
- toomuchtodo 2y ago
  There is currently a shortage of ~3-4 million housing units in the US. This shortage will continue into the future due to a shortage of people to build housing, the cost to build, and a population that remains steady due to immigration inflows. Buying in the US will remain a net positive financial decision well into the future based on these housing fundamentals.
  - AlchemistCamp 2y ago
    Many have had similar confidence in the past, including during the early-mid 2000s, right before the crash.
    - toomuchtodo 2y ago
      A black swan event caused by unique financial engineering conditions that won’t occur again is not a compelling rebuttal.
      - AlchemistCamp 2y ago
        Before 2008, there was a bust in 1980. Most attribute that to rising interest rates at the time. Given that the prime rate now is just 40% of what it was in 1980, it's not like interest rates can't rise enough to impact the housing market at some point in the future.
- 2y ago