- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: CNBC: Renting can make you wealthier than owning a home
Posted on 5/4/23 at 2:52 pm to WizardSleeve
Posted on 5/4/23 at 2:52 pm to WizardSleeve
I wasn’t advocating either way as I have a home. But short sighted is thinking you are “Making” $300K on a $250K house when you sell it 30 years later for $500K. A $240k mortgage w/o PMI at 4.25 is about $1800 per month with taxes and insurance. If you have PMI b/c you can’t put down 20% at purchase, increase that monthly cost a couple hundred more until you get that equity built up. Tax deduction is a joke in the scheme especially now with the standard deduction. You do keep paying taxes when you own it and unless you are an idiot, pay insurance too. That’s another $5K to $10K a year.
I highly recommend buying and building equity, but your numbers leave out a LOT of relevant information.
I highly recommend buying and building equity, but your numbers leave out a LOT of relevant information.
0
Posted on 5/4/23 at 3:19 pm to Paul Allen
quote:
Of course renting is better. Your home isn’t an asset. It’s not making you any money.
You make payments/pay cash for a set period of time vs. making payments forever.
and with a mortgage the payments don't get bumped up every year
The firs home I owned is the one I have gotten when I retired, is a no brainer. I sure as shite would rather have some equity there than having everything in the markets (stocks, bonds, precious metals, anything).
Posted on 5/4/23 at 5:29 pm to tiggerthetooth
There is a sports radio guy in DFW that used to promote renting over buying. The guy was a property investor so he was using his opportunity to spread his lie on his radio show. I quit listening to that station years ago so not sure if he still tries scam listeners on the fallacy or not.
Posted on 5/4/23 at 6:02 pm to fwtex
quote:
There is a sports radio guy in DFW that used to promote renting over buying. The guy was a property investor so he was using his opportunity to spread his lie on his radio show. I quit listening to that station years ago so not sure if he still tries scam listeners on the fallacy or not.
It is truly amazing how many people will lie to others to enhance their own position.
Page 8 of 8
Popular
Back to top
Follow TigerDroppings for LSU Football News