News for hackers. Stuff that matters.
Re:Home ownership is the West’s biggest economic-policy mistake by bluGill on Tuesday April 20, 2021 @09:17AM (#26874192)
Renting and buying can both turn out well depending on your individual circumstances. If you buy you eventually have a house rent free. However if your rent you probably spend less on rent - so invest that difference and you end up with about the same.

With real estate "location location location". In some areas there are situations that will make one or the other better. Everybody has their own life goals, and that in turn will feed into what is better for you.

Re:Home ownership is the West’s biggest economic-policy mistake by jjav on Wednesday April 21, 2021 @02:57AM (#26886225)
> if your rent you probably spend less on rent

For a while, usually yes. Long term, no chance.

A mortgage can only ever go down. Rents most of the time only go up.

My mortgage was initially over 3K while rent had been ~1.5K. But years later, those equivalent rents are ~5K and my mortgage is under $1K. In a couple decades when I'm retired, who know how high those rents will be? But I know exactly what my mortgage will be, $0.

Re:Home ownership is the West’s biggest economic-policy mistake by daemin on Tuesday April 20, 2021 @03:34PM (#26880233)
One thing people seem to skip over is that once you have bought a house you will still need to pay many fees. Just owning a house isn't free, there will be property taxes, fees for services, and other actions that require money from you. In a lot of cases when renting these are taken care of by the landlord.

So just the rent vs mortgage comparison (or rent vs no rent) is misleading at best, downright fraudulent at worst.

Re:Home ownership is the West’s biggest economic-policy mistake by milkytron on Tuesday April 20, 2021 @05:08PM (#26881708)
> In a lot of cases when renting these are taken care of by the landlord.

The thing is, a landlord isn't likely to continue renting out if they're losing money. Typically, the money for services, maintenance, etc. comes from rent.

The renter is indirectly paying for those, otherwise the landlord would be out of business.

Re:Home ownership is the West’s biggest economic-policy mistake by daemin on Wednesday April 21, 2021 @04:52AM (#26886953)
Yes, the landlord is paying for those things out of the rent, but as another commenter has stated my point is that you cannot make a direct Rent to Mortgage comparison. As there are many other costs you end up paying as a home owner which you don't worry about when you're a renter.
Re:Home ownership is the West’s biggest economic-policy mistake by jjav on Wednesday April 21, 2021 @03:01AM (#26886253)
> In a lot of cases when renting these are taken care of by the landlord.

Approximately never are any of those costs taken care of by the landlord! The renter is paying for them, plus a profit margin for the landlord. That's what rent is. The landlord isn't running a charity.

Only exception is if you luck into a rental by someone who paid off the property long ago and doesn't care to charge market prices for it.

Re:Home ownership is the West’s biggest economic-policy mistake by dragonwriter on Wednesday April 21, 2021 @03:03AM (#26886271)
GP seemed to use “taken care of by rhe landlord” to mean “bundled with the rent, and not a separate fee on top”, which is relevant to cost comparisons based only on purchase/finance cost vs rent cost.