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Forum » Renting is a LOSING proposition 100% of the time.
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Thread: Renting is a LOSING proposition 100% of the time.

post 1631969893 02-21-2021, 11:00 AM
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Originally Posted By Brozef⏩
You'll never see that rent money again.

Is the math that hard? I mean really bro.
This . Owning will always be a better move than renting .. you build 0 equity renting . The return on the money you have invested while you rent will be no where near the money you lose renting

But that being said I'm a current renter looking to buy a house this year . Hard part is coming up with a down payment and finding something half affordable in a decent area .
post 1631970043 02-21-2021, 11:02 AM
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Originally Posted By Anachron⏩
You're the guy who's arguing that renting is cheaper than owning because...

It costs less to rent 33% of a house than to own 100% of a house.

The one who is bad at both taking an L and math at the same time is you.
Yes. That’s how capitalism works. You pay more for the bar of soap you wash your taint with than the company who made it, but you don’t care about that - you care about washing your taint

When you live in a 100 unit apartment you don’t care that you’re paying 4% of the total cost despite being in 1% of the units. You care about having a place over your head. And if you’re trying to do that it is cheaper on a month to month basis than buying your own place.

Long term I agree with benefits of ownership. But earlier ITT outlined where it makes sense to rent instead of own, and it absolutely is cheaper on a month to month basis at least in any market I’ve lived in.
post 1631970173 02-21-2021, 11:04 AM
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Originally Posted By meanstringbean⏩
you care about washing your taint
Speak for yourself. I never throw away scent equity

The bacteria did all that work to give you a precious gift.
post 1631970223 02-21-2021, 11:04 AM
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Originally Posted By Exiled93⏩
Waiting until I get out of the navy to use my 0% down VA loan. Have 3 years left here and feel like it would be a waste buying a home now.
Which state are you looking to stay in?
post 1631970303 02-21-2021, 11:05 AM
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Originally Posted By BestAssMan⏩
your comparing a mortgage you got 20 years ago. 20 years ago rent was bout 350/mth

also you are FORCED to pay property tax/home insurance as well so tack that on.
1. I built this house 6 years ago, not 20. 20% down payment + equity for 5.5 years + refinance at a low rate = low mortgage.


2. Renters are FORCED to pay property tax and insurance as well. Only stupid people think if you rent you aren't paying property taxes, maintenance and insurance. Here's a hint, its priced into your rent. Landlords are not giving you a place to live out of the goodness of their heart. (Unless its mommy and daddy). They are making money.


3. Your argument itself is a great argument to buy. On average homes appreciate and rent goes up 3-5% per year. However, I'll be paying $585 per month for the next 30 years.
Lets assume I want to rent this house, or the equivalent to it for the next 30 years. Assuming it goes up just 3% per year. Rent on this same house will be $4500 per month. But as someone who owns it, I'll be only be paying $585. Furthermore, I'll hit a payoff date and be living for free when that rent compounds to over $4500 per month.



A lot of people are under the impression that real estate is expensive. Its in a bubble. Its going to crumble. Etc. Realistically real estate in America is still cheap. Its going to keep rising as time goes on. Millenials think the cost of housing is expensive now. That's laughable. Wait 30 years and check back in. People like to reference 08 like it was some kind of great reset for real estate prices. The market has recovered from 08. Real estate prices may have its ups and downs. But over the long haul its going up.
post 1631970573 02-21-2021, 11:09 AM
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Originally Posted By Anachron⏩
Again... And please pay attention this time.

It's cheaper to rent a chithole apartment than to buy a decent house. No one is arguing that.

Please re-read OP if you're still confused.
I'm actually going to argue. It's costing me more to rent a chithole apartment than it would to buy a decent house.
post 1631970673 02-21-2021, 11:11 AM
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Originally Posted By Brozef⏩
I've never seen a house for rent that is half of what the mortgage would be. What the fuk kind of example is that.

Do you really think a landlord isn't making money from your rent? You think they are running a charity?
This. Most rent for a decent apartment in my area is more than my mortgage. Property owners definitely make bank otherwise why do it?
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post 1631970773 02-21-2021, 11:12 AM
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Originally Posted By Anachron⏩
Again... And please pay attention this time.

It's cheaper to rent a chithole apartment than to buy a decent house. No one is arguing that.

Please re-read OP if you're still confused.
Lol back to full circle. Everywhere I’ve lived it is cheaper to rent than to own for a comparable location and quality of place. That said I’m generally comparing renting at apartments and multi families to owning your own place or owning like a downtown loft , condo, or something


Yes the cost of taxes, insurance, etc is passed on to renters but since there are multiple and it’s scaled it’s cheaper to rent than to own outright
post 1631970853 02-21-2021, 11:14 AM
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Originally Posted By Anachron⏩
Oops, sorry, that can happen too.

And for those not following the whole argument behind the supposed real estate investment expert, here's what it started with:



Then he moved the goalposts to renting a basement compared to renting a house.
Go compare a downtown condo purchase to renting somewhere similar, you’re paying more to own unless you cherry pick.

Just lol at this conversation. One of dumbest ones had on misc tbh
post 1631971053 02-21-2021, 11:16 AM
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Have fun paying property taxes to the government. That's money you will NEVER see again.

This is why I prefer to live in a tent in the woods. No rent. no property taxes. Just LMAO at rent-cels and home owner-cels..... there's a third option that maximizes profits.


Like Arnold use to always say, "You have to think outside the box." Home owner-cels are still living in the box. What is the point of living on this Earth if all you ever want to do is be like everybody else? You can't be paralyzed by fear. You have to think outside the box.
"One day I won't be able to lift any more. Not I won't want to lift. I mean physically unable. That day could be decades from now or it could be tomorrow. All I know is that's the day I'll wish I could lift more than ever. The day I'd give anything for one more workout, one more set, or one more cardio session. So go hard and enjoy every workout, every set, every rep. Because one day you will wake up and you will never get it back."
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post 1631971083 02-21-2021, 11:17 AM
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#101
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Originally Posted By AccountingMajor⏩
Which state are you looking to stay in?
I'm in Virginia now, probably just move back home to TN. Real estate is like half the price there lol. 200k in Va beach gets you a tiny townhouse surrounded by people but back home I could have like a huge several acre yard and nice home for that price.

Of course incomes are much higher here in VA beach though.
post 1631971293 02-21-2021, 11:20 AM
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Originally Posted By Anachron⏩
I just live under a bridge.

Utilizing the advantages of a government, while paying in nothing at all!
Das it man. Maximum outside the box thinking!
"One day I won't be able to lift any more. Not I won't want to lift. I mean physically unable. That day could be decades from now or it could be tomorrow. All I know is that's the day I'll wish I could lift more than ever. The day I'd give anything for one more workout, one more set, or one more cardio session. So go hard and enjoy every workout, every set, every rep. Because one day you will wake up and you will never get it back."
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post 1631971663 02-21-2021, 11:25 AM
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Originally Posted By Anachron⏩
I do have to hunt pigeons instead of rabbits and stuff... Forever on a cut.
Plump little fukers look delicious, cannot even lie. srs

Like Cornish game hens flying around.
post 1631971793 02-21-2021, 11:26 AM
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Originally Posted By meanstringbean⏩
How much you buy your cabin for?

Always wanted a lake home, seems a good way to make it cash flow
$240, that was last year, it’s already valued at a lil over 280..still considering selling it in a year, both properties & moving out of CA, can have a house paid for in another state plus some..
Ca is a great market to make some good money on properties but becoming complete chit to live in.
post 1631971983 02-21-2021, 11:28 AM
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Originally Posted By DizzySmalls⏩
I'm actually going to argue. It's costing me more to rent a chithole apartment than it would to buy a decent house.
This is actually true for a lot of people living (relatively) close to cities in California.

I'm not paying market rate because of rent control. It would be retarded for me to say rent is better than owning even in my circumstance.

Technically I could easily buy a "decent" (chit) $270,000 home in Menifee, CA, but I would live nearly 2 hours away from work, and it would be depressing seeing my home, and it's not really saving me any money. But for everyone paying market rate in the city, saving $1,800 might be worth living in the middle of nowhere.

I guess in only this fuked scenario, renting is better.

For most rational people, owning is better.
post 1631972093 02-21-2021, 11:30 AM
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Imagine living in a city and the median house price went from 600k to 1.6million in 10 years

That is life in vancouver
post 1631972473 02-21-2021, 11:36 AM
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Originally Posted By Winston56432⏩
Imagine living in a city and the median house price went from 600k to 1.6million in 10 years

That is life in vancouver
That is also life in Rancho Santa Fe, California.

This is the cheapest home there for $1.35 million
https://www.zillow.com/homedetails/6...16731615_zpid/
post 1631972903 02-21-2021, 11:43 AM
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Originally Posted By AccountingMajor⏩
That is also life in Rancho Santa Fe, California.

This is the cheapest home there for $1.35 million
https://www.zillow.com/homedetails/6...16731615_zpid/
I don't know cali real estate but 1 bed studio/condo start at 500k here.
post 1631973153 02-21-2021, 11:47 AM
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Originally Posted By Coal
So I go into debt to build a house. I have no cash to invest or do a thing with.

OR, rent and use my cash to invest and make more money.
This makes no sense. I bought my house with zero money down, and only paid about $2k out of pocket in total. My mortgage is about 70% of what it would cost to rent the same house. Plus the house goes up in value about $10k per year. If I were to be renting I'd have less money at the end of the month, and I wouldn't be able to sell the rental unit at a profit.
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post 1631973183 02-21-2021, 11:47 AM
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Originally Posted By HayZues
Say rent is 1000/month.

Buying a house 2k/month + 40k down.

Take that 40k down-payment and extra 1k/month and invest it seeing 10% growth and its over 300k within 10 years. Would take 20 to see that kind of equity in your house. That's also ignoring property taxes, and for people who live in places like Illinois or NY, that is easily 100k in 10 years.


So math isn't as simple as you say.
These numbers don't add up in most places

It's more like pay 2k/month in rent vs 1300 for a mortgage while putting minimum down (10-15k) since interest rates are so dirt cheap that paying PMI isnt a big deal

In most states this is more true of a situation. You're actually lowering your monthly obligations, allowing you more money to invest, the upfront cash is minimal, and you are gaining at least some equity with your monthly payments vice none with renting. You'll also likely see a profit from selling

Plus for the truly frugal single dudes you can always rent rooms out as another source of income

If someone is going to be in an area for a few years they should at least look at the math of buying. In Phoenix/Scottsdale it 100% makes sense if you can afford it
post 1631973313 02-21-2021, 11:49 AM
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Originally Posted By Godfrd824⏩
This makes no sense. I bought my house with zero money down, and only paid about $2k out of pocket in total. My mortgage is about 70% of what it would cost to rent the same house. Plus the house goes up in value about $10k per year. If I were to be renting I'd have less money at the end of the month, and I wouldn't be able to sell the rental unit at a profit.
My last house I actually made about 10k for buying it (Seller paid closing costs, no money down and I got commission). I sold it 14 months later at a 70k profit. My mortgage while living there was $1000 less than renting a similar house

But yeah, totally a waste of money!
post 1631973583 02-21-2021, 11:55 AM
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Reading through this thread

Holy chit the Misc is absolutely clueless on this subject lmao

Please keep renting guys, we depend on you dummies to keep paying our mortgages!
Originally Posted By Anachron⏩
You finally got here, haha.
I had to comment on that absolutely moronic example hehe :]
post 1631973783 02-21-2021, 11:57 AM
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Not if you put that 20% down payment for a house into the stock market instead.
post 1631973843 02-21-2021, 11:59 AM
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Originally Posted By SoutheastBeast1⏩
Have fun paying property taxes to the government. That's money you will NEVER see again.

This is why I prefer to live in a tent in the woods. No rent. no property taxes. Just LMAO at rent-cels and home owner-cels..... there's a third option that maximizes profits.


Like Arnold use to always say, "You have to think outside the box." Home owner-cels are still living in the box. What is the point of living on this Earth if all you ever want to do is be like everybody else? You can't be paralyzed by fear. You have to think outside the box.
If you live somewhere near the water a house-boat is a good option to avoid rent + property tax. Assuming you can live in a small space. You might have to pay a monthly/yearly fee to dock it somewhere convenient but that's usually a lot cheaper then rent. You also have to add in the cost of maintenance/upkeep on a vessel that stays in the water.


My uncle has a house-boat as a week-end get-away in an off grid location. Leases a small piece of waterfront land for like $600 per year. I eventually plan on trying to get a house-boat as well as a weekend chill spot. Something like this. Will build myself and with my father. If I ever decide to check out of normal life this is my backup plan.

post 1631973863 02-21-2021, 11:59 AM
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If you can earn 15 to 20 percent in the stock market, why would you waste that down payment of atleast 10% on the price of the house
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post 1631973973 02-21-2021, 12:01 PM
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It depends
//thread
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post 1631974993 02-21-2021, 12:14 PM
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Originally Posted By donblaximus⏩
Are you dumb or are you trolling. Its all about opportunity cost. When you buy a property, you put a lot more into it than just the mortgage and insurance.
(Down payment, closing cost, repairs, taxes, etc)

For hustlers starting out, one could consider not taking that burden and placing that money AND TIME into building something that will make you money. If im a software dev, id much rather spend my time coding a platform that will give me residual income for years to come vs fixing sprinkler heads on a saturday afternoon.....(one very small example)

My advice to younger cats coming up, if you are TRULY capable of building something and turning it into a business, focus your time and money on that. If you are just doing a 9-5 and coasting through life, then yes.....id say buying a property vs renting should be considered.
People on these boards, and people in general, lack the art of taking contextual information into consideration.
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post 1631975033 02-21-2021, 12:14 PM
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Originally Posted By Brosnbroccoli⏩
It depends
//thread
If you are financially illiterate, poor, or in a niche situation of job hopping to a new state every 6 months.
post 1631975113 02-21-2021, 12:15 PM
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Originally Posted By ontclone⏩
If you can earn 15 to 20 percent in the stock market, why would you waste that down payment of atleast 10% on the price of the house
Housing is better investment than stocks
post 1631975153 02-21-2021, 12:16 PM
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I haven't done't the math or statistics, but I'm sure if I did I would find some mind blowing stuff, as I always do when I apply my specialized skills.

As I see it now, buying is the ideal way and its something you'd want to strive towards. However, you have to consider the following:

1. Many people don't have a lot of money upfront.
2. Many don't have good credit.
3. Some move frequently.

If I was renting, I would rent the cheapest I could find just to have shelter over my head so that I can save up to buy a house.
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