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| ▲ | ericpauley 2 hours ago | parent | next [-] | | This is far from a universal truth: https://www.nytimes.com/interactive/2024/upshot/buy-rent-cal... Real estate is only a clearly good investment if you ignore opportunity cost. | | |
| ▲ | seanmcdirmid 2 hours ago | parent | next [-] | | You also need to pay close attention to rent vs purchase ratios. A lot of cities are cheap to rent but expensive to buy (eg beijing 10 years ago). | | |
| ▲ | mantas 2 hours ago | parent [-] | | Key word being „ago“. | | |
| ▲ | deaux an hour ago | parent [-] | | Such cities still exist and have been in such a state for decades. They can change but that's meaningless as they can also change the other way around. |
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| ▲ | sgt 2 hours ago | parent | prev | next [-] | | Articles like that still miss a bit of the nuance. Imagine having your house paid for, and you grow old and you have no rent to pay. Yes, you could have invested but likely you would have spent some of that money on something else, or your investments might have not worked out so well, or any other reason. Human reasons, to be specific. Owning property is like a lock. | | |
| ▲ | ericpauley an hour ago | parent | next [-] | | You and Matt Levine would get along: https://news.bloomberglaw.com/banking-law/matt-levines-money... | |
| ▲ | orangecat an hour ago | parent | prev [-] | | Imagine having your house paid for, and you grow old and you have no rent to pay. My home is "paid for". Except for the HOA and property taxes that are not that far off from what I was previously paying in rent, the ongoing maintenance costs with random large spikes, and the opportunity cost of having a large chunk of money in the house and not in the market. It was still probably the right decision, but it's not at all a free lunch. | | |
| ▲ | ffsm8 3 minutes ago | parent | next [-] | | And it's gonna be interesting wherever this narrative will shift over the next 5 yrs I keep hearing that properties are in the biggest bubble yet in the USA - with the affordable housing shortage being a red herring, because real estate managers and boomers are unwilling/unable to reduce their prices - despite not getting renters/buyers because it would kick off a death spiral as their interests would consequently go up (because of lower security). Along with the ai layoffs etc I'm not American so I only hear the occasional interview so don't have any idea if it's really as pressing as these industry professionals keep saying but I'm definitely at the edge of my seat watching... | |
| ▲ | sgt 8 minutes ago | parent | prev [-] | | Surely though, the HOA and all that would likely be baked into a renter's price. And you didn't need to go live in a HOA. I don't, and it's much cheaper. |
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| ▲ | hadlock an hour ago | parent | prev [-] | | It never fails, there's always someone who trots this thing out. We had bought our house, and then had to move and decided to rent. I was APPALLED that they wanted me to fill out an APPLICATION form, where they would decide my worth, and let me know if we would be allowed to live there. When buying a house, my cash was as good as anyone elses'. And then the management company would come inside my house to inspect that I wasn't running a meth lab or something. Thankfully that only lasted two years. I will never rent again. Majority owner-occupied neighborhoods have different characteristics as well. | | |
| ▲ | loeg an hour ago | parent [-] | | > I was APPALLED that they wanted me to fill out an APPLICATION form, where they would decide my worth, and let me know if we would be allowed to live there. When buying a house, my cash was as good as anyone elses'. House sellers receive offers from buyers, sometimes including letters, and can choose to sell to any of them (or none of them), whether or not those offers are higher than the listed price. It's not so different. > And then the management company would come inside my house to inspect that I wasn't running a meth lab or something. Yeah that part is different. I also prefer owning. |
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| ▲ | BoorishBears an hour ago | parent | prev [-] | | Except one day the hype will catch up to reality that was always true, people will realize their $20,000 Mac is has less utility as a "way to learn AI" than some kids 3090 fortnite machine, and it'll be back to below MSRP. |
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