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A comment on $2T in Proceeds of Corruption Removed from China and Taken to US, AUS, CAN, NL. Parent comment

Re:$2T in Proceeds of Corruption Removed from China and Take... by wiz21c on Monday January 02, 2017 @07:44AM (#13300841)
But once you have completely bought your house/apartment, you have that warm comforting feeling that it's yours. Nobody will get you out to puts in his children, nobody will raise the rent because, you know, he has no choice, etc.

But in the case of a house, you'll have to repair it as times goes by and that can be quite expensive. But the one who rents it to you would have to do it as well, so, buying a house just makes sure you don't pay the little profit margin of the landlord (just the one of the bank :))

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Re:$2T in Proceeds of Corruption Removed from China and Take... by forgetsusername on Monday January 02, 2017 @08:21AM (#13300989)
>so, buying a house just makes sure you don't pay the little profit margin of the landlord

Buying is not universally better than renting, period. There is no such thing as a free lunch; any profit received by owning the capital asset is compensation for the risk of holding that asset.

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Re:$2T in Proceeds of Corruption Removed from China and Take... by wiz21c on Monday January 02, 2017 @03:12PM (#13304055)
Yep you're right. I just wanted to explain that there is also a psychological argument at play. That warm comforting feeling...
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Re:$2T in Proceeds of Corruption Removed from China and Take... by aianus on Monday January 02, 2017 @04:28PM (#13304698)
I would feel like there was a noose around my neck if I couldn't move without paying $30k in realtors fees (and possibly incurring capital loss depending on timing).
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Re:$2T in Proceeds of Corruption Removed from China and Take... by angry_octet on Monday January 02, 2017 @11:08AM (#13301878)
In Australia you are often treated poorly as a tenant. Rent increases every 6 months, 60 day eviction notice if the landlord wants to do anything (sell, paint the walls, let their cousin stay there, consider selling it...). You can't do any modifications or get longer than a 12 month lease.

Also, there is a collective paranoia about missing out, of tumbling off the 'property ladder' and neither you or your children ever escaping wage slave poverty.

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