Current Events > Hilarious millennial excuses for renting versus owning a home

(+) Yeah! (+)

"You can move whenever you want!"
"If something breaks, your landlords fixes it for you! They take care of you like a toddler!"
"Housing crash is coming any day now anyway!"

Meanwhile they throw their money away building zero equity while paying off their landlords mortgage and find themselves permanently priced out of the housing market
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You must really hate yourself.

Rent in theory should create padding until you can afford to buy a house. Without rent control, it turns into theft.
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CommonStar posted...

You must really hate yourself.

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Equity is meaningless unless you can sell the house or plan to take out an equity loan.

The former isn't always possible or desirable and the latter is almost always a bad idea.

I agree that in the long run it is better to own than to rent, but only in a state that is friendly to property owners and only if you want to settle down long-term in the same place. Has to be an affordable property that can be paid off quickly too.
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https://www.youtube.com/watch?v=YHU_KLYhibI" data-time="
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This is the average millennial:

https://www.youtube.com/watch?v=2Sp3QHs7cvo" data-time="

TLDW; has a degree, makes good money, quits wagecuck job, does YouTube now, buys a fleet of exotic cars

FLUFFYGERM posted...

Equity is meaningless unless you can sell the house or plan to take out an equity loan.

The former isn't always possible or desirable and the latter is almost always a bad idea.

I agree that in the long run it is better to own than to rent, but only in a state that is friendly to property owners and only if you want to settle down long-term in the same place. Has to be an affordable property that can be paid off quickly too.

So I guess it isn't worth paying off my California home. It's gonna take decades to pay this shit off.

"mellennial" here and about to buy a second home and rent out the one im in.
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Millennials don't have money to throw away because they're getting double-penetrated by student loans worth more (and at higher interest rates) than mortgages, and paying for Baby Boomer retirement and healthcare.
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FLUFFYGERM posted...

Equity is meaningless unless you can sell the house or plan to take out an equity loan.

The former isn't always possible or desirable and the latter is almost always a bad idea.

I agree that in the long run it is better to own than to rent, but only in a state that is friendly to property owners and only if you want to settle down long-term in the same place. Has to be an affordable property that can be paid off quickly too.

Damn. This is some renters bias if I've ever seen it.

Isn't possible to sell a home? Homes here are selling after an average of 15 days on the market for 10% over asking. This is a high COL area.

Imagine having a fully paid off home in a high COL area. You could move to a LCOL area and buy an entire street of houses.

Once a house is paid off, it's paid off. Rent, you pay forever. Lots of shitty landlords out there that will evict you for no reason, up your rent by some ridiculous amount etc.
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Houses are never paid off. Property taxes are conveniently ignored.

Some can be as high as a year of rent.

And if you don't pay them, guess what you lose?

Oh right, that house that's "yours"
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this topic again
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Did I forget to mention that your average rent these days is more per month than you'd be paying on a mortgage with a 5% down payment? To pay some ripoff landlords mortgage?
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you're supposed to rent out what you own right?
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I like how TC likes to prance around like some kind of pretentious snob, but there's a good chunk of CE that makes more than him without boasting about it.
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yusiko posted...

https://www.youtube.com/watch?v=YHU_KLYhibI" data-time="

Not sure about his piece on this. For starters if housing keeps up with inflation, it's the only investment that does. But he's right about being tied down. It depends a lot on your situation.
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DarkRoast posted...

Houses are never paid off. Property taxes are conveniently ignored.

Some can be as high as a year of rent.

And if you don't pay them, guess what you lose?

Oh right, that house that's "yours"

lol no i have a 135k home in a great town with an amazing school district... yearly property tax is $800.

about to buy a 200k (ish) home for the growing family and then rent out the house im in.
more should have learned a trade, they didnt. now demand is high for tradesmen and we can name our price for the work. i started in construction, specifically interior woodwork. then went and got certified as a machine technician after the housing bubble popped.
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GasMonkey posted...

DarkRoast posted...

Houses are never paid off. Property taxes are conveniently ignored.

Some can be as high as a year of rent.

And if you don't pay them, guess what you lose?

Oh right, that house that's "yours"

lol no i have a 135k home in a great town with an amazing school district... yearly property tax is $800.

about to buy a 200k (ish) home for the growing family and then rent out the house im in.
more should have learned a trade, they didnt. now demand is high for tradesmen and we can name our price for the work. i started in construction, specifically interior woodwork. then went and got certified as a machine technician after the housing bubble popped.

Don't get baited by these renters. They'll say anything to rile up homeowners.
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I've already paid off my house, thanks.

I'm just not shallow enough to need to boast about it.
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i'm almost surprised you didn't put "can't afford it cause of all the avocado toast" in there
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DarkRoast posted...

I've already paid off my house, thanks.

I'm just not shallow enough to need to boast about it.

then you should know property taxes dont equal a years worth of rent... hmm
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It really depends where you live and how much rent is comparably.

REMercsChamp posted...

Did I forget to mention that your average rent these days is more per month than you'd be paying on a mortgage with a 5% down payment? To pay some ripoff landlords mortgage?

There's more to the price of a home than just mortgage...
Depends on the place, but there's always HOA, property tax, insurance, maintenance.

Nothing wrong with home ownership, but man, people shouldn't be only thinking about mortgage costs
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emblem boy posted...

It really depends where you live and how much rent is comparably.

REMercsChamp posted...

Did I forget to mention that your average rent these days is more per month than you'd be paying on a mortgage with a 5% down payment? To pay some ripoff landlords mortgage?

There's more to the price of a home than just mortgage...
Depends on the place, but there's always HOA, property tax, insurance, maintenance.

Nothing wrong with home ownership, but man, people shouldn't be only thinking about mortgage costs

If you'd ever owned a home you'd know property tax is built into the mortgage
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Lmao tc doesnt know shit about real estate

Thats not to say he isnt wrong about some people making excuses, but he thinks its always a good idea to buy a house lmao

You should get back on that basic income posting instead. Real estate is big boy talk and you arent a big boy

"You can move whenever you want!"

This is the worst one.

You can tell it's said by people who have never moved before.
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Romes187 posted...

Thats not to say he isnt wrong about some people making excuses, but he thinks its always a good idea to buy a house lmao

It is a good idea assuming you saved up for a down payment instead of throwing the money away on avocado toast
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REMercsChamp posted...

Romes187 posted...

Thats not to say he isnt wrong about some people making excuses, but he thinks its always a good idea to buy a house lmao

It is a good idea assuming you saved up for a down payment instead of throwing the money away on avocado toast

Lmao he actually said it
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REMercsChamp posted...

Romes187 posted...

Thats not to say he isnt wrong about some people making excuses, but he thinks its always a good idea to buy a house lmao

It is a good idea assuming you saved up for a down payment instead of throwing the money away on avocado toast

Lmao this is one of the dumbest posts Ive ever seen on CE

Not the toast part, but literally thinking buying is always a good option assuming you have a down payment



Just close the topic bro and kee posting about UBI or some dumb shit where its so obviously a bad idea that you cant be wrong.

Romes187 posted...

REMercsChamp posted...

Romes187 posted...

Thats not to say he isnt wrong about some people making excuses, but he thinks its always a good idea to buy a house lmao

It is a good idea assuming you saved up for a down payment instead of throwing the money away on avocado toast

Lmao this is one of the dumbest posts Ive ever seen on CE

Not the toast part, but literally thinking buying is always a good option assuming you have a down payment



Just close the topic bro and kee posting about UBI or some dumb shit where its so obviously a bad idea that you cant be wrong.

Alright man, you tell yourself whatever you need to to justify throwing your money down the toilet and paying off some landlords mortgage while building 0 equity


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Buying a house is not a good option if you have no future
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As a homeowner, those 3 excuses are absolutely true (mainly the first two).
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Why would I buy a house when my only income is my GI Bill and some disability?
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If you live in town, I don't much think owning the home is worth it until you can put a large amount down (25% or more) on a nice place you don't think you'll be needing to sell for some time.

I get a giggle out of people saying "oh why can't you sell?! Homes are going for 10% over asking here!"

Well, two things: Firstly, not all markets are the damn same.
Second, and more importantly, you have to BUY THE FUCKIN THING FIRST. At 10% over asking.

Yeah, great logic.
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When i rented it was 875 per month. Now that i own, my property taxes are like 850 per year and dispersed among my 549 mortgage. My Condo is bigger and in a nicer area too.

Long term renting is honestly for suckers. Im not sure why some ppl are in denial over it

That's an interesting "regurgitating random dumb talking points taken from probably toxic online communities/forums" for someone hosting a NEET community board. So is your plan to live with your parents until you're in your fifties and they sign the house over to you when they move to a smaller home or retirement community, tc?
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REMercsChamp posted...

Did I forget to mention that your average rent these days is more per month than you'd be paying on a mortgage with a 5% down payment? To pay some ripoff landlords mortgage?

The house I live in is a triplex. I pay 550 a month in rent, which has not increased in the 5 1/2 years I've been here. The landlord bought the property from a relative a few years ago and took the apartment next to mine. The previous tenant paid around twice as much as I do (larger apt), and there is a 2 bedroom unit upstairs. No idea how much the rent is up there. I can't fathom a mortgage of 550 or lower, except maybe with a massive down payment and the longest plan available. I don't really know how it works but I'm not looking into it until the time comes.
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Rent-> save for a home> build equity-> sell when you retire and go back to renting.

I plan to travel a lot when i retire. Dont wanna see snow ever again. So when im older ill sell my home, keep the money and rent. That way i can leave my place vacant for a month at a time and not have to worry about anything.
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Huh, so I guess we'll be hating on landlords now in 2019?

Peasants
Rise
Up
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DudusCoke posted...

Rent-> save for a home> build equity-> sell when you retire and go back to renting.

I plan to travel a lot when i retire. Dont wanna see snow ever again. So when im older ill sell my home, keep the money and rent. That way i can leave my place vacant for a month at a time and not have to worry about anything.

No one will rent to you without an income. It doesn't matter how much you have saved up.
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ImTheMacheteGuy posted...

REMercsChamp posted...

Did I forget to mention that your average rent these days is more per month than you'd be paying on a mortgage with a 5% down payment? To pay some ripoff landlords mortgage?

The house I live in is a triplex. I pay 550 a month in rent, which has not increased in the 5 1/2 years I've been here. The landlord bought the property from a relative a few years ago and took the apartment next to mine. The previous tenant paid around twice as much as I do (larger apt), and there is a 2 bedroom unit upstairs. No idea how much the rent is up there. I can't fathom a mortgage of 550 or lower, except maybe with a massive down payment and the longest plan available. I don't really know how it works but I'm not looking into it until the time comes.

Okay - you're talking about living out of basements or rooms in houses which is a different topic all together. Obviously those will be cheaper and of course come with their own unique set of problems.
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REMercsChamp posted...

DudusCoke posted...

Rent-> save for a home> build equity-> sell when you retire and go back to renting.

I plan to travel a lot when i retire. Dont wanna see snow ever again. So when im older ill sell my home, keep the money and rent. That way i can leave my place vacant for a month at a time and not have to worry about anything.

No one will rent to you without an income. It doesn't matter how much you have saved up.

Oh, so all the people who rent and live on pension dont exist. Cool.
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DudusCoke posted...

REMercsChamp posted...

DudusCoke posted...

Rent-> save for a home> build equity-> sell when you retire and go back to renting.

I plan to travel a lot when i retire. Dont wanna see snow ever again. So when im older ill sell my home, keep the money and rent. That way i can leave my place vacant for a month at a time and not have to worry about anything.

No one will rent to you without an income. It doesn't matter how much you have saved up.

Oh, so all the people who rent and live on pension dont exist. Cool.

You aren't going to have a pension.
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REMercsChamp posted...

DudusCoke posted...

Rent-> save for a home> build equity-> sell when you retire and go back to renting.

I plan to travel a lot when i retire. Dont wanna see snow ever again. So when im older ill sell my home, keep the money and rent. That way i can leave my place vacant for a month at a time and not have to worry about anything.

No one will rent to you without an income. It doesn't matter how much you have saved up.

You're trolling
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The whole "stuck in one place" thing is a very valid concern. The rest, not so much.

Housing crash? While yes, you might lose money, you'll still own a home that you don't have to pay weekly / monthly for.

Landlord fixing things? The money you're saving on rent could easily cover the bill of having a professional come in and fix it for you.
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REMercsChamp posted...

ImTheMacheteGuy posted...

REMercsChamp posted...

Did I forget to mention that your average rent these days is more per month than you'd be paying on a mortgage with a 5% down payment? To pay some ripoff landlords mortgage?

The house I live in is a triplex. I pay 550 a month in rent, which has not increased in the 5 1/2 years I've been here. The landlord bought the property from a relative a few years ago and took the apartment next to mine. The previous tenant paid around twice as much as I do (larger apt), and there is a 2 bedroom unit upstairs. No idea how much the rent is up there. I can't fathom a mortgage of 550 or lower, except maybe with a massive down payment and the longest plan available. I don't really know how it works but I'm not looking into it until the time comes.

Okay - you're talking about living out of basements or rooms in houses which is a different topic all together. Obviously those will be cheaper and of course come with their own unique set of problems.

How many renters rent entire houses/buildings/properties long term? Lmfao. After my parents separated, my mother rented a house for like a year while our old house was on the market and/or she was looking to buy a new house, and only because that is a process. I don't recall the exact timeline but we were in the rental for maybe 9 months? I would like a source for this claim that renting entire houses long term while actively not looking to buy a house is a thing at all, let alone a millennial thing.
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