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/biz/ - Business & Finance

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50593169 No.50593169 [Reply] [Original]

Why do people who rent get so mad when you tell them you own your own home? I just don't get it. Owning and renting cost the same now. Landlords price in mortgage, insurance, taxes and upkeep. If someone rents they pay all this for the landlord while the landlord also gets profit from their rental asset appreciating. There is literally no reason to rent any more. Owning a home is the only thing that makes sense these days. Why are renters mad about this? They aren't being forced to rent. They choose to ffs.

>> No.50593257

>>50593169
personally i dont give a shit but there is no such thing as home ownership
the bank owns it and if you've paid it off you're renting from the state, its cheaper yes, but the taxes for the land are still rent

>> No.50593331

>>50593257
Changes nothing. Those costs are simply the cost of doing business. A house is an appreciating asset. It pays for it self when held long enough.
Honestly, the points you bring up are schizo conspiracy glass half empty / half full nonsense. Your viewpoints are not valid as they come from outside of society. If you don't like society and its ways you can fuck off. No one is forcing you to participate in society.

>> No.50593474

I'd rather own than rent, but let's not pretend there are no potential negatives to owning. It locks you down to a specific location, it locks up your capital in a down payment when you could rent and keep that money in something more liquid, and you will every so often have to deal with large and sometimes sudden maintenance costs like replacing a home's roof.

Owning is the better end of the deal, especially since mortgage payments reduce your tax bill. But it is a cost benefit.

>> No.50593501

>>50593169
>>50593331
i don't want to be financially and geographically caught in a shitty environment and not afford to leave when I want to. by renting i can leave that social sphere whenever I want. by renting i have more control over who I choose to live next to and minimize the risk of having to live next to some shitty neighbor. moreover, it's not like i'm tilling a farm or working the soil. LAND, AS AN ASSET, CAN BE DEPRECIATED and i'm not taking the risk of buying land that could be worthless at some point in my lifetime or buying land that i can't leave for my kids.

>> No.50593528

They are forced to rent. The only places you can buy a house are places you cannot make money

>> No.50593531

>>50593331
>the points you bring up are schizo conspiracy glass half empty / half full nonsense
stop paying taxes then and see who owns your house then

>> No.50593565

your bank owns it

>> No.50593595

>>50593169
because most housefags are arrogant retards who think they're financial geniuses. if you want a roof over your head and a fixed mortgage payment, that's cool. you are not, however, a 200 IQ genius for taking out a 95% LTV loan with a 30 year repayment period. your unrealized gains mean nothing when you 1) aren't going to sell and 2) even if you did sell, those gains would buy you an identically overpriced house. you're also not smart for getting a 3% mortgage. you were born in the right place at the right time -- that's it.

>> No.50593630

>>50593257
property tax is unconstitutional and should only apply to commercial property

>> No.50593705
File: 57 KB, 680x577, 1655916596159 - 2022-06-22T103823.329.jpg [View same] [iqdb] [saucenao] [google]
50593705

>>50593169
I rent which causes me to piss away 7k a year but it also allows me to free up 40k a year for liquid investments which i am pretty good at trading and the benefits of which i shoudlnt need to explain on a crypto board. Last year my investments overall appreciated 100% when you average everything (crypto, boring mutuals, some etfs, some specific stock picks, some oil swing trades), while real estate went up 20%.

Just by the numbers it makes way more sense for me to make -100% on 7k and +100% on 40k than have it all in a house and end up +20% on 47k. For most people their investing journey starts and stops with buying a house and doing some company 401k matching and it isnt really a bad choice, i just know i can consistently beat real estate as an investment vehicle because ive been doing it for years now and trading is something i enjoy. Also i just dont see it as a bullish investment long term. I would buy long dated puts on a few select REITs before i seriously considered buying a house in this market to be quite frank...

>> No.50593710
File: 185 KB, 1047x525, Interest rates.png [View same] [iqdb] [saucenao] [google]
50593710

>>50593169
>Owning and renting cost the same now.

Not where I live.

I pay $1735 to rent the town house I live in. The guy who owns it bought it in 2006 for $385,000.

Its current market value is $910,000.

I have $200k in savings. Which is just over 20%.

So with 20% down, take a $700,000 mortgage, taking on a 3.29% variable rate, because the FIXED is 6.69% and only for 5 years. We dont have LIFE LONG fixed rates here in Australia.

>Your principal and interest repayments would be $3,062 per month

Yeah, sorry OP, but youre just flat out wrong on this, me buying the town house I currently rent, would take me from paying $1,735 per month upto $3,062 per month, and thats with me dropping 20% down.

I want that 200k in crypto so I can get a 10-100X in the next decade and buy a house in CASH without needing a mortgage.

>> No.50593737

exact same thread was posted yesterday

lazy bots

>> No.50593756

>>50593257
>what is equity

>> No.50593830

>>50593169
> They aren't being forced to rent

Yes they are. If there are no homes available or banks won't give them loans then they are forced to rent.

>> No.50593902
File: 99 KB, 1137x574, Screen Shot 2022-07-28 at 4.05.19 am.png [View same] [iqdb] [saucenao] [google]
50593902

>>50593710
Here's more

If i take 5 year fixed (MAX fixed rate I can get in Australia) - my monthly repayment would be $4,513.

As you can see, owning is far more expensive than renting.

At least in Australia.

>> No.50593940

>>50593169
>Why do people who rent get so mad when you tell them you own your own home? I just don't get it.
I don't think anyone except bottom barrel seething poorfags would get mad just for this. However, there's an odd brigade on /biz/ of homebuyer shills who for some reason keep making smug inflammatory threads about buying homes.

>There is literally no reason to rent any more
I'm wealthy and renting currently. My wife and I make a combined 300k salary + another 100k or so from investments.
We're renting a nice townhouse in the midwest for 1.5k/month. We will only be here for 3 years max before relocating to a different state.
Doesn't make much sense to buy a house and then try to sell it 3 years later. We're not house flippers and don't want the headache.

>> No.50593984
File: 22 KB, 1000x900, 1654096258783.png [View same] [iqdb] [saucenao] [google]
50593984

>>50593169
>Why do people who rent get so mad when you tell them you own your own home?
its more like

>jeeze ya my rent went up $400 a month

then some retarded gen x coworker butts in

>YA my zestimate is WAAY UP it's GREAT

>> No.50594010
File: 31 KB, 260x260, Wojak 06.png [View same] [iqdb] [saucenao] [google]
50594010

>>50593257
>if you've paid it off you're renting from the state

>> No.50594024

>>50594010
you pay taxes

>> No.50594032

>>50593169
>Owning and renting cost the same now
Patently false

>> No.50594074

>>50594024
>taxes are rent
Why do I listen to cretins who inhabit this board?

>> No.50594081

>>50593756
unrealized gains which cost you money (tax assessments) because we both know you aren't going to sell. and even if you did sell, you'd be swapping for a more or less identical house (rising tide lifts all boats etc.)

>> No.50594171

>>50594074
>"hey Mr. Govt, I want to live on this land"
>"ok but you have to pay us money to live on it"
>"alright good, at least Im not renting"

>> No.50594230

>>50594074
The concept of ownership is just a convenient abstraction for "I claim this as mine and I (or a 3rd party) have the power to enforce this claim".

You can make the argument that whomever does the "enforcing" is the real owner. Aka you pay taxes to the government and they enforce your claim.

>> No.50594349

>>50593902
aussies can't even into math
1.7k per month rent * 12 months * 5 years = 100k
100k into a house you own is 100k you can 'pull out' if you need

the answer is simply: rents (and aussies) are low-iq

>> No.50594443

>owning and renting are the same price now

You cannot be this stupid landlord leech.

>> No.50594470

>>50593331
So stop paying your taxes if you really believe that.

>> No.50595069

>>50593331
>house prices will go up, because they just will

>> No.50595108

>>50594349
Who the fuck “pulls out” 5 years of mortgage repayments they just made?

>> No.50595231

>>50594074
>recurring yearly charge not based off income
>non payment leads to eviction
>not rent
because they're smarter than you

>> No.50595343

>>50594074
it's literally a fact chud

>> No.50595377

>>50593169
>own your home
pay property 'tax' you fucking slave

>> No.50595391

>>50593331
Well put, but schizos are still gonna seethe.

>> No.50595412

>>50593595
What about if you buy a big plot of land, subdivide it, and build an extra house to sell? Are you a financial genius then?

>> No.50595525

>>50595412
no because you've divided a plot of land that will never, ever be consolidated again.

>> No.50596520

>>50593531
>>50594470
Taxes are the cost of being part of society. In a capitalist society they are a business expence. If you don't agree fuck off out of society. Society has no use for free loading faggots like you.

>> No.50596709

>>50596520
taxes are a cost of maintaining 500 lb black landwhales and the horde of mestizos that live 10 to 1 in a section 8.

>> No.50596848

>>50596709
Taxes getting paid on housing doesn't fucking matter in this conversation. Let me break it down for you retards.
>Renter: Pays the landlord's real estate tax
>Home Owner: Pays their own real estate tax
Renting or owning it doesn't matter. A real estate tax is collected either way on the home.
I swear to god only the dumbest fuck could possibly think they aren't paying real estate tax by renting. The landlord collects the tax from the renter in the form of rent and sends it to the tax collector ffs.

>> No.50596937

>>50593474
>It locks you down to a specific location
>>50593501
>i don't want to be financially and geographically caught
These posts read like they were posted by twenty something women riding the cock carousel traveling around the world.

>> No.50597026

>>50594349
you can't pull it out like that at all you fucking sperg

>> No.50597082
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50597082

>>50593565
not in 7 more years, bucko

>> No.50597088

>>50595108
>>50597026
also he's a dumb fucking nigger who doesn't understand how amortization schedules work. hint: you've barely made any equity payments within the first 5 years.

>> No.50597165

>>50593474

I like to collect shit and have hobbies that require big and heavy shit. I have a big gun collection and wood working equipment (large power tools). There’s no way I would want to move while owning all that. That’s one thing I hated about being a rentoid, I always had to second guess purchasing the stuff I wanted because “what will I do when I have to move apartments and I have this thing here?”, so I always bought cheap shitty furniture and nothing too delicate or fragile. Owning a home gives me the stability to not be afraid to buy nice things and have to worry about moving with them. Also now I own $30k worth of firearms I can’t move to certain libtard states where they’re banned (without selling them) but who cares

>> No.50597170

Buying a home is only a good idea for people who don’t have anything better to do with their down payment and maintenance costs.

>> No.50597179
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50597179

>>50596520
>if you don't pay government parasites the highway toll then you're parasites!
State doesn't equal society. Take your crude midwit social contract theory back to the 17th century and come back when you're taken up an interest in systems theory .

>> No.50597306

>>50596848
yeah no shit, I own a home too. Taxes are just a way to redistribute liquidity to a slave class.

>> No.50597352

>>50593257
At each step you remove one more middleman until the only thing left is the one you can't escape.
Removing two middlemen is a lot of progress.

>> No.50597908
File: 116 KB, 614x900, 1658557894977605.jpg [View same] [iqdb] [saucenao] [google]
50597908

>>50593169
it's true that buying is typically better than renting, but
> interest rate
> not a liquid asset, annoying as an investment
> lots of reparations to pay for all the time
> property taxes
overall it's a shitty investment except that the mortgage allows you to essentially leverage trade at low cost
imo also a very effeminate / female investment, it's always women that keep screeching about houses

>>50594010
he's right, though
technically speaking

>> No.50597961

>>50593331
the point is valid and not schizo by any means. retard.

>> No.50598024

>>50597165
Everyone has different needs