LogFAQs > #973023741

LeoRavus posted...

In all honestly, retirement will be the hardest for renters.

If you don't own your own shit and have it paid off by retirement, you're fucked. You'll most likely need to check yourself into a state nursing home. Rent only goes up and never, ever goes away.

I paid off my house 2 years ago so I'm not worried about shit.

Honestly with rates being as high as they are and then real estate being bonkers, renting is not the worst thing in the world. You can still get ahead as long as you live within your means. I saved up all my retirement while renting and only bought a home just last year.

https://www.nytimes.com/interactive/2014/upshot/buy-rent-calculator.html

That link is useful to compare. You only really come out ahead with buying if you stay in the same spot for about five years or so.

You are correct that the rent can just go up without you having much of a say though, it's fucked. My 2br/2ba went up from $1800/mo to $2200/mo for absolutely no reason other than that they could. FWIW most homes have an HOA, and (almost?) all have property taxes

With all that being said my mortgage + HOA + tax is like $2200/mo and a comparable living space is $2500-$2800 to rent, without the luxury of building equity lol.

Millennials and Zoomers are really being squeezed