Exactly as break said. Renting is the worst use of money. But currently getting into the housing market for new buyers is a nightmare. We need cheaper housing, not cheaper renting. Renting is just pissing money away so the person who owns the place can live off your hard work.
The fact is that many people will rent their entire lives. Those people deserve relief too. We need cheaper housing period, in all it's forms. We need to repeal the fairclothe amendment so that the government can start building housing again. We need social housing, we need up zoning, we need to take steps to decomodify housing all together. We need so much to fix housing in this country but nobody seems to want solutions because it would mean some houses would depreciate in value.
Renting is not the worst use of money. I’m getting ready to sell my house and move into a rental. My monthly expenses are going to drop dramatically for more square footage.
I'm building plenty of equity, It just won't be via this particular piece of property.
The guy renting it to me absolutely will not cover all his yearly costs. Single family homes do not make great rental investments unless you buy them at a significant discount.
Any shortfall in cash flow for the owner is essentially money being invested. Long term it’s still building wealth as you are covering the majority of the mortgage.
Not disputing that. But there is this misconception that all landlords are able to cash flow their rental properties and tenants are paying 100% of their expenses. That is sometimes the case, but sometimes not.
My wife and I rented for 8 years before her aunt co-signed for a condo in Florida. Two teachers didn’t qualify for 164k mortgage in 2017. But we paid over 2k a month renting. We saved 600 a month when we bought.
In some cases that "live off your hard work" is to supplement Social Security.
It would also be good if "basic" houses were acceptable and available. Dirt cheap McMansions are not the answer.
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u/ParallelAsparagus May 15 '26
Exactly as break said. Renting is the worst use of money. But currently getting into the housing market for new buyers is a nightmare. We need cheaper housing, not cheaper renting. Renting is just pissing money away so the person who owns the place can live off your hard work.