Comments on: Rent Forever, Don’t Buy A Home

By: Anonymous

Anonymous — Thu, 26 Jan 2012 20:14:10 +0000

WHY NOT RENT FOREVER WITH SO MANY OPTIONS FOR FABULOUS LIVING SPACES DURING YOUR LIFETIME?

By: Larry

Larry — Fri, 13 Jan 2012 13:19:39 +0000

This article is correct. Many people forget all the taxes and fix ups they paid for over the years when it comes time to tell you how much they made when they sold their house and property. I read an article many years ago which simply stated “A house is a place to live and not and investment”.

By: Jon

Jon — Fri, 06 Jan 2012 04:25:29 +0000

This is a good point of view but some things have to be considered as well. I live in Honolulu and because its an island,land is limited and scarce, its also a desirable place to live in which makes land more expensive. Yes I am aware of fees you have to pay and it might seem like you are paying more than renting for now but in the long run you are actually saving because of inflation, rent prices changes over time and when inflation occurs rent will go higher, but a mortgage payment for 30 years will always be the same. Also if you have a family or plan to have one its better to own one so you have something to pass down. I think is better to rent when you do not have any children or immediate family.

By: Lori

Lori — Fri, 23 Dec 2011 00:50:51 +0000

As a homeowner and eager to get out of this money pit what everyone forgets to figure in is the age of a 30year home… IF YOU BOUGHT IT BRAND NEW! My home is already 30 years old, 30 more years to pay it off and not only will I have to replace every appliance, system, doors, windows, fixtures, electrical, plumbing, etc.. flooring at least twice during those 30 years. My 300K house will easily cost me over 900K in 30years. Expect to “renovate” your home every 15-20 years. It is actually cheaper to just burn it down every 20 years and rebuilt for the $150K it is actually worth.

My next move is moving my family of 4 to a condo with all the awesome amenities and a balcony. I want to spend the rest of my life living and not maintaining an overlarge structure that just sucks me dry.

By: jane

jane — Sun, 18 Dec 2011 02:43:56 +0000

You sound ghettoy, shelby! no class!

By: Bill Globalist

Bill Globalist — Sun, 11 Dec 2011 11:29:01 +0000

Sonny, here is a link to back up my claim:

http://en.wikipedia.org/wiki/United_States_housing_bubble

There is a graphic and shows that from 1890 to 2004 in the USA house prices gained an annual 0.4% (four tenths of 1%) above the inflation rate. Hardly a way to save for a nest egg for retirement and medical expenses, wouldn’t you say? My original 1% was too optimistic about house price appreciation.

By: Tabby

Tabby — Sat, 03 Dec 2011 21:37:16 +0000

I own a home now, and I’m still pretty happy about it. I never had any intentions of moving to a new state or city so it seemed like a good plan. I pay much less now (even with taxes and insurance) then I did renting. Plus, I’m building towards something that’s mine. I could pay rent for 30 years and be no further ahead. Now, in 30 years I have some equity. I bought at the low of the market so I’m not too worried about another big drop. Well, you know. Unless the country self destructs or something.

By: Sonny K

Sonny K — Sat, 03 Dec 2011 18:58:34 +0000

Thanks, Bill… I looked this up & found lots of bits & pieces but bottom line is -it’s there. Happy they never got my money but sadly enough, too many never realized this before they followed like lemmings over that cliff. If you have some links for us all to see, that would be beneficial to so many (albeit too late for most). Old saying goes “if you think education is expensive, try ignorance”. We have to start questioning MANY long-held economic/financial myths because the proof has been in the pudding and millions are gagging on it right now.

By: Bill Globalist

Bill Globalist — Sat, 03 Dec 2011 16:39:15 +0000

Sonny, all you have to do is look up the Case – Shiller studies, which show that in the long run, house prices barely keep up with inflation. They might do 1% more than inflation. However investing in an index fund that follows the Dow Industrials since 1926 would have yielded around 7% above the average annual inflation rate in the long haul. Clearly a house is not a retirement investment. This information was freely available in libraries. Instead, millions of people chose to ignore the advice and buy a house for their retirement nest egg. They bought a box of stupid.

By: Brittany

Brittany — Fri, 02 Dec 2011 19:24:40 +0000

LOL!!!!!! Love it.

By: Brittany

Brittany — Fri, 02 Dec 2011 19:11:44 +0000

My mom has been renting her apartment for ten years

By: Brittany

Brittany — Fri, 02 Dec 2011 18:21:06 +0000

It’s not really advocating for people to give up their right to own land but instead is simply arguing the point for never buying a house. This is an opinion piece based on certain truths, it’s goal is to argue the point, nothing more. It ia what you make of it.

By: Brittany

Brittany — Fri, 02 Dec 2011 18:05:19 +0000

Okay I just want to let you know that from personal experience, I rented an apartment in a 3 family house on a dead end road with only one other rental property as well as 2 other houses and it was wonderful. Also, this was in a city, where these places are hard to come by. I think you have had too many bad experiences and this is why you feel this way. I was perfectly happy with this apartment and I would go back in a jiffy and if I lived there my whole life I doubt it would change.

By: Sonny K

Sonny K — Fri, 02 Dec 2011 18:00:23 +0000

Glad this “buying a home” myth is getting exposed. As a rule of thumb, you buy a house at $100,000 and after 30 years, you will have paid the bank $300,000. The only profit made is for the bank. And in those 30 years you will shell out easily the purchase price in major repairs, renovations and maintenance. And you’re going to offset all of this for tax deductions? It has always been pure bs that a house was an investment, bs fed by bankers (who you pay TWICE the purchase to them!) & real estate pushers. I would love it if someone skilled could do a price cost comparison of the same person during his entire adult life and what his real costs would be owning a home verses renting and throw in all the usual experiences life loves to dish out. I’m betting when ALL the costs are tallied, there was no real savings and hardly a sensible investment.

By: geodeta Lipno

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