re: “You’re just throwing your money away on rent”

We have 4 rental units. One bedroom 750sq ft but right on a lake. Rent is $1,100. Move in rate is first and last month's rent plus $1,100 deposit. That's $3,300 up front to rent. It rents in less than a week when we have an availability which tells me renters commonly have the money to buy if they really wanted to. I imagine their subpar credit scores are one of two barriers to purchasing.

The other barrier is bad at money management moreso than being unable to afford a mortgage. You can give most people a million dollars and they'll still end up broke in record timing.

Lastly, purchasing IMO is more about the long term than the short term. If you can turn a profit on a home in short term, that's great. But worst case scenario, you won't have a mortgage in 30 years if you purchase and just pay your note. That can't be the same for renters. You'll have 0 in equity perpetually.

About the only time I'd recommend renting over buying is when you relocate to a new area. Rent for a year until you figure out where you want to buy.

You're assuming the housing market is going to go down, It'll likely continue to go up in the Nashville area and they'll build equity as their property value goes up along with paying down principle.

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The Recession is Coming.

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Recession doesn't automatically mean housing prices plummet.

I’m guessing they’re all in shitty ghetto neighborhoods

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I'm wondering when housing bubble 2.0 is going to pop.

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Sorry you can’t afford a house bro

I like having my own home to come home to everyday and sit in my recliner in my underwear drinking Natty Lights.

And secondly, I have no idea if my housekeeper rents or owns a home. I don't speak Spanish.

If their note would be $1350/month, how much is rent in Nashville?

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I’m guessing they’re all in shitty ghetto neighborhoods

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And you'd be guessing wrong, like you usually do.

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Right...even the pit bulls sell crack in those neighborhoods

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I love how the ignorant and bigoted show up in pairs and make exactly the same arguments.

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I pay $350 a month in rent

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I can only imagine what $350/month gets you.

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and we still have to pay $500 a month HOA fee and over $10k a year in property taxes.

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I wouldn't live in place with those kind of fees and taxes in the first place.

It’s not for every situation but in general can be a great investment. There’s no black and white answer here as there a WAY too many variables and goals for people.