Owning a home costs 50% more compared to renting cost in America

[FranklinRoosevelt_FTW]

Hopefully sooner than later, the situation resolved itself

What democrats or Republicans will give us a solution to this problem? Other than Donald Trump who’s not in office right now?

I feel for the working class family to this country who are living with their parents or living in a tiny apartment. Imagine that situation you have a husband and a wife. They have two kids and they’re living with one side of their parents. That’s what we get from bidenomics.. giving billions of dollars to foreign countries for wars while Americans cannot make ends meet

 

[The Duke]

Yeah well, taxes on rentals are 400%+ more than a homestead exemption.

Local governments make more money off of anything rented than the owners do, for nothing.

 

[FranklinRoosevelt_FTW]

Yeah well, taxes on rentals are 400%+ more than a homestead exemption.

Local governments make more money off of anything rented than the owners do, for nothing.

Oops I fixed the error in the thread title

owning is better across-the-board. If you can own….Problem now is buying houses. The interest rates are very high on loans.

 

[Hutch Starskey]

Hopefully sooner than later, the situation resolved itself

View attachment 848083


What democrats or Republicans will give us a solution to this problem? Other than Donald Trump who’s not in office right now?

I feel for the working class family to this country who are living with their parents or living in a tiny apartment. Imagine that situation you have a husband and a wife. They have two kids and they’re living with one side of their parents. That’s what we get from bidenomics.. giving billions of dollars to foreign countries for wars while Americans cannot make ends meet

Hasn’t owning always cost more?
Isn’t owning an investment?

 

[jotathought]

Rent moratoriums and / or eviction bans were in place during COVID which placed the liability on owners -- who got screwed. No wonder renters are being charged more -- not to mention costs have gone up due to record level inflation rates.

Home owners have to deal with rising costs, interest rates, taxes and caps on deductions.

 

[ScorpioRising007]

Hopefully sooner than later, the situation resolved itself

View attachment 848083


What democrats or Republicans will give us a solution to this problem? Other than Donald Trump who’s not in office right now?

I feel for the working class family to this country who are living with their parents or living in a tiny apartment. Imagine that situation you have a husband and a wife. They have two kids and they’re living with one side of their parents. That’s what we get from bidenomics.. giving billions of dollars to foreign countries for wars while Americans cannot make ends meet

Buying very old houses that need a lot of work in areas with low property taxes seems to work for many people I know. I know a guy bought his house for 20k. It needed all kinds of repairs which he did himself. It would of been off the list of most people since most people wouldn't of been able to do all the repairs themselves and would have to hire help which would of been costly. It had all kinds of damage and serious issues, but he was able to fix it all himself with his family & friends. It came with a decent average size front and back yard and already had a fence for his dog.

 

[Oddball]

Hopefully sooner than later, the situation resolved itself

View attachment 848083


What democrats or Republicans will give us a solution to this problem? Other than Donald Trump who’s not in office right now?

I feel for the working class family to this country who are living with their parents or living in a tiny apartment. Imagine that situation you have a husband and a wife. They have two kids and they’re living with one side of their parents. That’s what we get from bidenomics.. giving billions of dollars to foreign countries for wars while Americans cannot make ends meet

 

[FranklinRoosevelt_FTW]

Buying very old houses that need a lot of work in areas with low property taxes seems to work for many people I know. I know a guy bought his house for 20k. It needed all kinds of repairs which he did himself. It would of been off the list of most people since most people wouldn't of been able to do all the repairs themselves and would have to hire help which would of been costly. It had all kinds of damage and serious issues, but he was able to fix it all himself with his family & friends. It came with a decent average size front and back yard and already had a fence for his dog.

You might be able to do that and then hire people to do the job, but generally speaking, the cost of maintenance is quite a bit. It’s usually what it is with car repair if you’re not necessarily pay the most for the new parts, but for the hourly wage for the repair person.

 

[FranklinRoosevelt_FTW]

Hasn’t owning always cost more?
Isn’t owning an investment?

Owning has not always cost more. If you look at the chart, you will see a time(2012) in the United States when your mortgage was 25% less compared to renting. That’s really how it should be logically speaking.

Owning is an investment, but it is perhaps a privilege, the privilege people who have enough money through hard work, or sometimes an inheritance are able to purchase a house… they can show the bank they have enough money made each year in income to get a loan. Or if they’re lucky enough or work hard enough, they can buy the house outright without even doing a mortgage.

People generally rent because they understand that they don’t have the lump sum payment for a down payment, or maybe it’s the first time moving out of their parents house and they’re just looking to rent to test the field. That’s my understanding of the situation and I’m no expert.

But we all recognize the difficult times young American families are going through right now….. because their mortgage payment is astronomically higher compared to what it would’ve been under Donald Trump before 2020. Those are the ones who are lucky enough to be able to get a home loan for their first house.

 

[Hutch Starskey]

Owning has not always cost more. If you look at the chart, you will see a time(2012) in the United States when your mortgage was 25% less compared to renting. That’s really how it should be logically speaking.

Owning is an investment, but it is perhaps a privilege, the privilege people who have enough money through hard work, or sometimes an inheritance are able to purchase a house… they can show the bank they have enough money made each year in income to get a loan. Or if they’re lucky enough or work hard enough, they can buy the house outright without even doing a mortgage.

People generally rent because they understand that they don’t have the lump sum payment for a down payment, or maybe it’s the first time moving out of their parents house and they’re just looking to rent to test the field. That’s my understanding of the situation and I’m no expert.

But we all recognize the difficult times young American families are going through right now….. because their mortgage payment is astronomically higher compared to what it would’ve been under Donald Trump before 2020. Those are the ones who are lucky enough to be able to get a home loan for their first house.

It’s not the rates it’s the wages.
Look at what the rates were in the 80’s.

 

[FranklinRoosevelt_FTW]

It’s not the rates it’s the wages.
Look at what the rates were in the 80’s.

I understand that, but we do also have a 50 year record high inflation. And we also have something else that we didn’t have ant any time in American history. Patriotism is at an all time low among young Americans.

We also printed trillions of dollars after the “Covid” virus… the lockdowns were unprecedented in American history.

At least in the 1980s the cost of homes was less. And it was easier to get a middle class job right out of high school. That seems to have stopped in the 90s and got worse as the years went on.

 

[Hutch Starskey]

I understand that, but we do also have a 50 year record high inflation. And we also have something else that we didn’t have ant any time in American history. Patriotism is at an all time low among young Americans.

We also printed trillions of dollars after the “Covid” virus… the lockdowns were unprecedented in American history.

At least in the 1980s the cost of homes was less. And it was easier to get a middle class job right out of high school. That seems to have stopped in the 90s and got worse as the years went on.

Inflation will flatten out. Rates much under 5% aren’t very realistic anyway. People may need to lay low and save longer but it’s doable. Homes sell everyday. A fixer upper is a great plan if one has skills but who knows today.

I’ve got three kids in college and have been teaching them how to strategize for home ownership. I send them links to listings all the time as I’ve been thinking of getting a couple to rent. Cheap ones are out there but they will need work.

 

[BluesLegend]

HAHAHAHAHA I bought my house in 2011, it's paid for and I completely dodged Bidenomics jacked up costs, suck it Biden!

 

[Zincwarrior]

Hopefully sooner than later, the situation resolved itself

View attachment 848083


What democrats or Republicans will give us a solution to this problem? Other than Donald Trump who’s not in office right now?

I feel for the working class family to this country who are living with their parents or living in a tiny apartment. Imagine that situation you have a husband and a wife. They have two kids and they’re living with one side of their parents. That’s what we get from bidenomics.. giving billions of dollars to foreign countries for wars while Americans cannot make ends meet

Can you even own a home in Russia Comrade?

 

[FranklinRoosevelt_FTW]

Inflation will flatten out. Rates much under 5% aren’t very realistic anyway. People may need to lay low and save longer but it’s doable. Homes sell everyday. A fixer upper is a great plan if one has skills but who knows today.

I’ve got three kids in college and have been teaching them how to strategize for home ownership. I send them links to listings all the time as I’ve been thinking of getting a couple to rent. Cheap ones are out there but they will need work.

Good luck to your kids. I think that folks are going to have to figure out ways to make a lot of money these days. Now if we never had the lockdowns, surely the price of homes would have remained a lot lower than they are now and we would’ve had low interest rates for the foreseeable future.?

under Trump the interest rate on a home loan was under 2%. And that Rate could’ve held up for 10 or more years.

unfortunate thing how so few people in the world in positions of power were able to effectively train wreck the global economy. I knew as soon as Republicans and Democrats allowed the printing of trillions of dollars back in 2020 that it was going to be a big problem for the future. All the “stimulus checks”….

I think now more Americans are going to have to figure out the stock market and try and be able to buy low and sell high.


We also have to worry about a nuclear Armageddon. Got two new wars under Joseph Biden. The chances of a nuclear weapon being unleashed is quite low even very low, but the thing is it is certainly higher now compared to what it was 4 years ago.

 

[Hutch Starskey]

Good luck to your kids. I think that folks are going to have to figure out ways to make a lot of money these days. Now if we never had the lockdowns, surely the price of homes with a remained a lot lower than they are now and we would’ve had low interest rates for the foreseeable future.?

under Trump the interest rate on a home loan was under 2%. And that Rate could’ve held up for 10 or more years.

unfortunate thing how , so few people in the world and positions of power are able to effectively train wreck the global economy. I knew as soon as Republicans and Democrats allow the printing of trillions of dollars back in 2020 that it was going to be a big problem for the future. All the “stimulus checks”

I think more Americans are going to have to figure out the stock market and try and be able to buy low and sell high.

The world is going through a collective shift and Covid only accelerated and exacerbated it. I remain optimistic as we Americans are better off than much of the world.

 

[Resnic]

Guess that's a reason why I've seen more entire apartment complexs being built in the past years around me than I have individual single family homes. Renting is the new trend since owning a home is out of most people's reach they are getting forced to rent which sucks up all their money, they are trapped living in smaller places with others and can't afford to break free.

Granted it's not 50% but my grandma bought her condo 3 years ago for 180k. She finally got to the point she can't live on her own, and after a failed experiment of her living with me and then moving her to a assisted living apartment where she is doing much better, I sold her condo last month for 235k last month. That's a 55k increase in just under 3 years. That's a lot.

Hell my house value went up 80k. But even if I sold it I couldn't afford to buy even a house equal to mine. I'm glad I got my house when trump was president because i got 1.5 acres, a house that was only 11 years old and it's in still a semi country area and my interest rate was only 2.6%.

 

[LordBrownTrout]

You might be able to do that and then hire people to do the job, but generally speaking, the cost of maintenance is quite a bit. It’s usually what it is with car repair if you’re not necessarily pay the most for the new parts, but for the hourly wage for the repair person.

If one educates themselves on do it yourself repairs, it's a lot cheaper to own a home. Most of that do it yourself is all on YT now.

 

[rightwinger]

Hasn’t owning always cost more?
Isn’t owning an investment?

Your mortgage is usually less than a rental

 

[Moonglow]

Hopefully sooner than later, the situation resolved itself

View attachment 848083


What democrats or Republicans will give us a solution to this problem? Other than Donald Trump who’s not in office right now?

I feel for the working class family to this country who are living with their parents or living in a tiny apartment. Imagine that situation you have a husband and a wife. They have two kids and they’re living with one side of their parents. That’s what we get from bidenomics.. giving billions of dollars to foreign countries for wars while Americans cannot make ends meet

None of my four kids live at home with parents.