News for hackers. Stuff that matters.

A comment on Mortgage Rates Jump Above 6%, Putting Pressure on Housing Market. Parent comment

Re:Mortgage Rates Jump Above 6%, Putting Pressure on Housing... by ska on Thursday September 15, 2022 @12:37PM (#32854586)
It's usually a trade off between paying someone for rent, or paying someone else interest (and others for tax, maintenance, etc.)

You can't really take the investment aspect or any of these others out of the analysis if you want to understand what's best for you. Particularly in countries with policies to encourage/subsidize home ownership the answer is often, "buy a place", but not always.

[ Parent | on HN ]
Re:Mortgage Rates Jump Above 6%, Putting Pressure on Housing... by mancerayder on Friday September 16, 2022 @01:51PM (#32869642)
Interest is tax deductible, and if you have an investment property you can write off a lot of things.

No tax benefits go to renters. That's one of many considerations here other than raw liabilities.

[ Parent | on HN ]
Re:Mortgage Rates Jump Above 6%, Putting Pressure on Housing... by ska on Friday September 16, 2022 @06:01PM (#32872551)
This all depends on jurisdiction of course.

Agree a investment property is a whole other can of worms, but not really relevant on the "should I buy or rent, personally" decision. For that one, you need to compare to other investments, which is in many ways more straightforward.

[ Parent | on HN ]