Thread 60825056

>fell for the "rent and invest instead of buy" meme
>added up all the money I spent on rent the last 5 years
>It would have been enough to pay off half of a modestly price home, which would have also gone up in value the last 5 years
At least first I wanted to throw up, now I unironically want to kms

buying a house when interest rates were 0 probably would have been a good idea. i didnt have that option

>>60825056 (OP)
>added up all the money I spent on rent the last 5 years
That's not how you do it. Rent minus the higher costs of owning versus renting is how you do it. For example a house is more expensive to heat/cool, more money in insurance, more money for utilities. And the things you wouldn't normally count like the place is bigger you buy more things to fill it.

>>60825056 (OP)
>too broke to buy a house
>considers it a loss of business opportunity
just the biz way i guess keep selling low and buying high

>>60825089
If that helps you sleep at night do it that way.

>>60825056 (OP)
It's a liability and you're supposed to get bitcoin, you can't have more bitcoins if you buy

I was house shopping earlier this year until I had the sobering realization that even with my modest salary of $87k I simply can't afford a mortgage, not at current interest rates. and they're unlikely to drop, and even if they do that will only raise prices.
Add to that the fact that your payment increases every year anyways and it just doesn't make sense. I really want to move out of my parents' house but I can't afford a house and I can't find a roommate to split rent and bills with.

the most annoying thing is people talking about their fucking ridiculous down payments, they're just like "yeah we put $120k down" like wtf, who fucking saves up that much, how??

>>60825190
>your payment increases every year anyways
not in the US
>who fucking saves up that much, how??
people who already had a house and sold it to make the down payment on their next house

>>60825201
>not in the US
property taxes and insurance go up every year. then you run into escrow shortage which forces you to cough up the difference or increase your mortgage payment. by the time you pay off the house your insurance and taxes have gone up enough that you're basically making the same mortgage payment despite paying off the house.
the whole thing is a fucking scam.

>people who already had a house and sold it to make the down payment on their next house
according to /biz/ they'd have been better off renting and "investing" that. investing into what, anons on here never say.

>>60825211
>investing into what, anons on here never say
BITCOIN BITCOIN BITCOIN BITCOIN JUST FUCKING BUY BITCOIN

>>60825056 (OP)
>well atleast next time you can use this experience to make the right choice

>>60825056 (OP)
I rent out a house, the guy just stopped paying rent, so his circumstances have changed suddenly, probably lost his job. He hasn't communicated with me so now he gets a letter to pay within 14 days or get evicted.
So he has no job, and has to get a new place, who will take him? Plus he won't get his bond back because it will pay his rent. Plus if he is asked for his last landlord and I get called for a reference I will have to say what happened.
If he had put the rent into paying a mortgage instead he could get a bank holiday until things improved.
Buy a house, and be secure.

>>60825211
>property taxes and insurance go up every year.
nah, taxes go up every two years usually. And in my experience they go up by something like $15 per month when that happens. Not a huge problem unless you're on a fixed income and a tight budget.
I've never seen my insurance go up, but then I've only had it for 24 years so it might go up eventually I guess.

>>60825250
may be he could have bought this house you rent if you were not a greedy and useless landlord

t. fully paid my house cash and never going to lose my time renting real estate because the ROI is low and being a landlord is for losers

>>60825255
>t. fully paid my house cash
Bad move bro, mortgages are some of the cheapest debt you can get, should have taken a mortgage at a decent LTV and invested the spare cash.