Renting is not better than buying

[Raybyrnes]

I used 200k for an example of an income that could safely afford a half a million dollar home.HALF a MILLION dollars. I know this is Southern Cal, but that is still a lot of money especially when there is not much land that domes with it.

[sdcellar]

Not sure your point. I’d agree that half a mill is a lot of money. And you don’t get much land or house with that (or maybe even fries).

Which is it? Buy an overpriced underwhelming house now and hold on to it for a long time to get your money back, or better to save and get something better for your money later?

Me, I’ll take door number two. You, well, you’ve lost me.

[sdcellar]

Not sure your point. I’d agree that half a mill is a lot of money. And you don’t get much land or house with that (or maybe even fries).

Which is it? Buy an overpriced underwhelming house now and hold on to it for a long time to get your money back, or better to save and get something better for your money later?

Me, I’ll take door number two. You, well, you’ve lost me.

[sdcellar]

Not sure your point. I’d agree that half a mill is a lot of money. And you don’t get much land or house with that (or maybe even fries).

Which is it? Buy an overpriced underwhelming house now and hold on to it for a long time to get your money back, or better to save and get something better for your money later?

Me, I’ll take door number two. You, well, you’ve lost me.

[sdcellar]

Not sure your point. I’d agree that half a mill is a lot of money. And you don’t get much land or house with that (or maybe even fries).

Which is it? Buy an overpriced underwhelming house now and hold on to it for a long time to get your money back, or better to save and get something better for your money later?

Me, I’ll take door number two. You, well, you’ve lost me.

[sdcellar]

Not sure your point. I’d agree that half a mill is a lot of money. And you don’t get much land or house with that (or maybe even fries).

Which is it? Buy an overpriced underwhelming house now and hold on to it for a long time to get your money back, or better to save and get something better for your money later?

Me, I’ll take door number two. You, well, you’ve lost me.

[Bugs]

Making a statement like “it’s better to own than to rent” is a somewhat equivalent to saying “chocolate ice cream is better than strawberry ice cream. Or steak.” It is true for some people under some conditions, but without qualifying those conditions it becomes meaningless.

From an emotional viewpoint and in terms of making the average soccer mom happy there’s little doubt that owning is the better choice for those who can afford it. But from a financial viewpoint and considering the current economic climate it is a horrible choice for most everyone else.

If you can afford it and if the emotional payoff of owning is worth as much or more than the cumulative amount of cash you’re going to drop over the years as a result of making mortgage payments that are double what your rents would be on that house, then go for it and be happy. Stop hanging out on boards like this one where participants focus on the financial aspects of the markets. You don’t need our validation and you’re just wasting your time trying to persuade rational people to adopt your irrational (but still valid, for you) viewpoint.

If you want validation from people you respect then you should be hanging out with those people who already share that orientation. In other words, not here.

[Bugs]

Making a statement like “it’s better to own than to rent” is a somewhat equivalent to saying “chocolate ice cream is better than strawberry ice cream. Or steak.” It is true for some people under some conditions, but without qualifying those conditions it becomes meaningless.

From an emotional viewpoint and in terms of making the average soccer mom happy there’s little doubt that owning is the better choice for those who can afford it. But from a financial viewpoint and considering the current economic climate it is a horrible choice for most everyone else.

If you can afford it and if the emotional payoff of owning is worth as much or more than the cumulative amount of cash you’re going to drop over the years as a result of making mortgage payments that are double what your rents would be on that house, then go for it and be happy. Stop hanging out on boards like this one where participants focus on the financial aspects of the markets. You don’t need our validation and you’re just wasting your time trying to persuade rational people to adopt your irrational (but still valid, for you) viewpoint.

If you want validation from people you respect then you should be hanging out with those people who already share that orientation. In other words, not here.

[Bugs]

Making a statement like “it’s better to own than to rent” is a somewhat equivalent to saying “chocolate ice cream is better than strawberry ice cream. Or steak.” It is true for some people under some conditions, but without qualifying those conditions it becomes meaningless.

From an emotional viewpoint and in terms of making the average soccer mom happy there’s little doubt that owning is the better choice for those who can afford it. But from a financial viewpoint and considering the current economic climate it is a horrible choice for most everyone else.

If you can afford it and if the emotional payoff of owning is worth as much or more than the cumulative amount of cash you’re going to drop over the years as a result of making mortgage payments that are double what your rents would be on that house, then go for it and be happy. Stop hanging out on boards like this one where participants focus on the financial aspects of the markets. You don’t need our validation and you’re just wasting your time trying to persuade rational people to adopt your irrational (but still valid, for you) viewpoint.

If you want validation from people you respect then you should be hanging out with those people who already share that orientation. In other words, not here.

[Bugs]

Making a statement like “it’s better to own than to rent” is a somewhat equivalent to saying “chocolate ice cream is better than strawberry ice cream. Or steak.” It is true for some people under some conditions, but without qualifying those conditions it becomes meaningless.

From an emotional viewpoint and in terms of making the average soccer mom happy there’s little doubt that owning is the better choice for those who can afford it. But from a financial viewpoint and considering the current economic climate it is a horrible choice for most everyone else.

If you can afford it and if the emotional payoff of owning is worth as much or more than the cumulative amount of cash you’re going to drop over the years as a result of making mortgage payments that are double what your rents would be on that house, then go for it and be happy. Stop hanging out on boards like this one where participants focus on the financial aspects of the markets. You don’t need our validation and you’re just wasting your time trying to persuade rational people to adopt your irrational (but still valid, for you) viewpoint.

If you want validation from people you respect then you should be hanging out with those people who already share that orientation. In other words, not here.

[Bugs]

Making a statement like “it’s better to own than to rent” is a somewhat equivalent to saying “chocolate ice cream is better than strawberry ice cream. Or steak.” It is true for some people under some conditions, but without qualifying those conditions it becomes meaningless.

From an emotional viewpoint and in terms of making the average soccer mom happy there’s little doubt that owning is the better choice for those who can afford it. But from a financial viewpoint and considering the current economic climate it is a horrible choice for most everyone else.

If you can afford it and if the emotional payoff of owning is worth as much or more than the cumulative amount of cash you’re going to drop over the years as a result of making mortgage payments that are double what your rents would be on that house, then go for it and be happy. Stop hanging out on boards like this one where participants focus on the financial aspects of the markets. You don’t need our validation and you’re just wasting your time trying to persuade rational people to adopt your irrational (but still valid, for you) viewpoint.

If you want validation from people you respect then you should be hanging out with those people who already share that orientation. In other words, not here.

[Raybyrnes]

Bugs

Here is what is funny to me. Buyers represent such a small percentage of transactions relative to all of the homes in the total market.

Why doesn’t anyone ever talk about the many homeowner who already own their home who are not putting their home on the market and have nno intention of doing so. Regardless of when you bought you are equally losing money with respect to opportunity cost. No one ever says how stupid these people are for not selling.

[Raybyrnes]

Bugs

Here is what is funny to me. Buyers represent such a small percentage of transactions relative to all of the homes in the total market.

Why doesn’t anyone ever talk about the many homeowner who already own their home who are not putting their home on the market and have nno intention of doing so. Regardless of when you bought you are equally losing money with respect to opportunity cost. No one ever says how stupid these people are for not selling.

[Raybyrnes]

Bugs

Here is what is funny to me. Buyers represent such a small percentage of transactions relative to all of the homes in the total market.

Why doesn’t anyone ever talk about the many homeowner who already own their home who are not putting their home on the market and have nno intention of doing so. Regardless of when you bought you are equally losing money with respect to opportunity cost. No one ever says how stupid these people are for not selling.

[Raybyrnes]

Bugs

Here is what is funny to me. Buyers represent such a small percentage of transactions relative to all of the homes in the total market.

Why doesn’t anyone ever talk about the many homeowner who already own their home who are not putting their home on the market and have nno intention of doing so. Regardless of when you bought you are equally losing money with respect to opportunity cost. No one ever says how stupid these people are for not selling.

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