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Message
It now costs 52% more to buy a home than rent one
Posted on 10/23/23 at 11:24 am
Posted on 10/23/23 at 11:24 am
quote:
The average monthly mortgage payment is a whopping 52% higher than the average monthly rent on a house or apartment — a ratio that hasn’t been this out of whack since before the 2008 housing crash, according to The Wall Street Journal.
The last time the cost of buying a home versus renting one was this extreme was in 1996, The Journal reported, headlining its article “There’s never been a worse time to buy instead of rent,” citing data from commercial real estate firm CBRE.
NY Post
11
Posted on 10/23/23 at 11:26 am to L.A.
This post reminds me of JerseyTiger who use to rail against home ownership. It is now his time to shine.
Posted on 10/23/23 at 11:27 am to L.A.
This is a wild difference. I started to look about a year ago and my dad lectured me on the stupidity. Glad I listened.
Posted on 10/23/23 at 11:27 am to L.A.
It's almost as if someone is trying to phase out ownership in its entirety because they can make more money through leasing and subscription services.
Posted on 10/23/23 at 11:28 am to L.A.
Do you even Blackrock, Bro?
Posted on 10/23/23 at 11:28 am to L.A.
Big investment firms are just slumlords for middle class people. You will own nothing and be happy.
Posted on 10/23/23 at 11:28 am to L.A.
Rent is pissing money away. A home is a savings acct if you buy smartly.
This post was edited on 10/23/23 at 11:29 am
Posted on 10/23/23 at 11:29 am to theantiquetiger
quote:
if you buy smartly.
Kind of difficult to do at the moment.
Posted on 10/23/23 at 11:30 am to L.A.
quote:
It now costs 52% more to buy a home than rent one
Not for long. Property taxes are causing rents to go up when current leases are over. That or you will see small landlords dumping inventory
quote:
Take a listen to this landlords story.
The surge in property taxes has turned his rental from nicely profitable to being in the hole monthly.
And he has a 2.25% mortgage!
The numbers in this are staggering.
Twitter video
Posted on 10/23/23 at 11:32 am to L.A.
This is the WEF plan.
Posted on 10/23/23 at 11:39 am to L.A.
Some real estate agent was starting threads left and right last week, about how stupid it is to rent instead of buy.
Im sure he will avoid this thread like the plague.
Im sure he will avoid this thread like the plague.
Posted on 10/23/23 at 11:42 am to stout
My insurance on my properties has doubled since 2020. I’m paying an extra 10k per year. Definitely shrinks margin and makes it a lot less desirable.
Posted on 10/23/23 at 11:42 am to red sox fan 13
“ Big investment firms are just slumlords for middle class ”
And aided by Joe Biden and company.
FJB
And aided by Joe Biden and company.
FJB
Posted on 10/23/23 at 11:47 am to theantiquetiger
quote:
Rent is pissing money away. A home is a savings acct if you buy smartly.
This is simply outdated thinking.
Buying a home is just a flat out BAD deal right now.
Posted on 10/23/23 at 12:06 pm to L.A.
It's funny since we all know how to draw the prices down, lower the reason for the mortgage rates, and make the American Dream achievable again. End non-Americans and corporations from buying SFH. But doing that doesn't put money in the politicians pocket.
Posted on 10/23/23 at 12:10 pm to Montezuma
quote:
End non-Americans and corporations from buying SFH. But doing that doesn't put money in the politicians pocket.
1. Agree to stop foreigners from buying
2. Agree about buying for corporations. But if they build the neighborhood from scratch I’m cool with them not selling.
Posted on 10/23/23 at 12:12 pm to GetCocky11
What about building a home?
Posted on 10/23/23 at 12:27 pm to L.A.
I keep the rent low when I have a good tenant. If I have a scum bag I drive the rent up until they bail.
Posted on 10/23/23 at 12:55 pm to nugget
quote:
My insurance on my properties has doubled since 2020. I’m paying an extra 10k per year.
You are doing better than many...for my rental property the 2023 premiums were to be over $5800 in May (had I not sold in March). Started at 800 for structure only in '17....
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