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https://www.khanacademy.org/economics-finance-domain/core-finance/housing/renting-v-buying/v/renting-vs--buying-a-home https://www.khanacademy.org/economics-fin

https://www.khanacademy.org/economics-finance-domain/core-finance/housing/renting-v-buying/v/renting-vs--buying-a-home https://www.khanacademy.org/economics-finance-domain/core-fi...

EC1 13y ago
http://www.theonion.com/articles/friend-who-sent-link-to-8minute-youtube-video-must,32442/ http://www.theonion.com/articles/friend-who-sent-link-to-8mi...
this_user 13y ago
What most people also don't take into consideration are the opportunity costs of buying a house and paying a mortgage for the next twenty or thirty years. If instead of buying you rent and invest the money you would otherwise pay for the house there is a good chance you will be much better off in the long run.
- WalterSear 13y ago
  ~7 years in and my mortgage is cheaper than rent already.
  - graeme 13y ago
    That's great for you, but it doesn't tell us much about whether it's better to own or rent on average. Your testimony is like someone saying they bought one stock that's up 20%, so stocks must be better than bonds. There are other homeowners who have lost money, and some others who are doing even better than you. Individual stories don't tell us about aggregates.
  - notajuggalo 13y ago
    So what? The monthly payment is only a small piece of the puzzle
pmorici 13y ago
I think this has come up before when that video was posted here but when you consider buying vs renting you really need to do the calculations for your specific situation that should be the only take away from that video. Taken as general advice that you should always rent and never buy it's pretty horrible just as the opposite is horrible advice in general. It's pretty easy to get a rough idea of what is better in your area using a rent vs buy calculator the New York Times has a good one... http://www.nytimes.com/interactive/business/buy-rent-calculator.html http://www.nytimes.com/interactive/business/buy-rent-calcula...

https://www.khanacademy.org/economics-finance-domain/core-finance/housing/renting-v-buying/v/renting-vs--buying-a-home https://www.khanacademy.org/economics-finance-domain/core-fi...

EC1 13y ago

http://www.theonion.com/articles/friend-who-sent-link-to-8minute-youtube-video-must,32442/ http://www.theonion.com/articles/friend-who-sent-link-to-8mi...

this_user 13y ago

What most people also don't take into consideration are the opportunity costs of buying a house and paying a mortgage for the next twenty or thirty years. If instead of buying you rent and invest the money you would otherwise pay for the house there is a good chance you will be much better off in the long run.

WalterSear 13y ago
~7 years in and my mortgage is cheaper than rent already.
- graeme 13y ago
  That's great for you, but it doesn't tell us much about whether it's better to own or rent on average. Your testimony is like someone saying they bought one stock that's up 20%, so stocks must be better than bonds. There are other homeowners who have lost money, and some others who are doing even better than you. Individual stories don't tell us about aggregates.
- notajuggalo 13y ago
  So what? The monthly payment is only a small piece of the puzzle

pmorici 13y ago

I think this has come up before when that video was posted here but when you consider buying vs renting you really need to do the calculations for your specific situation that should be the only take away from that video. Taken as general advice that you should always rent and never buy it's pretty horrible just as the opposite is horrible advice in general. It's pretty easy to get a rough idea of what is better in your area using a rent vs buy calculator the New York Times has a good one... http://www.nytimes.com/interactive/business/buy-rent-calculator.html http://www.nytimes.com/interactive/business/buy-rent-calcula...