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| ▲ | 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). |
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| ▲ | mantas an hour 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. |
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| ▲ | orangecat 41 minutes ago | parent | next [-] | | 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. | | |
| ▲ | sgt 4 minutes ago | parent [-] | | 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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| ▲ | ericpauley an hour ago | parent | prev [-] | | You and Matt Levine would get along: https://news.bloomberglaw.com/banking-law/matt-levines-money... |
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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. |
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| ▲ | loeg 42 minutes 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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