Yeah, it’s always better to give your money to someone else, than to build equity. /s
“Yeah, it’s always better to give your money to someone else, than to build equity. /s”
I used to be in the same mindset. My view is rapidly changing. Here in PA the real estate taxes, particularly what the school districts extract, are crippling. I’m currently facing a $700 increase over last year which will result in over a $5K check just to the school district; the county and twp get over $2K on top of that.
So there is not such thing as owning a home in PA. You either pay rent to a private individual or pay rent to the school district & county.
There's nothing wrong with renting. Human's base need for shelter overrides equity.
i used to think this too... but now i can see where renting makes more sense in some situations... btw, i have only ever rented for one year--when i moved from my parents' home at 23 to my friend's condo... she and her fiance bought it, and she needed a roommate for one year until they got married... right after that, i bought my first home...
LOL!
Yes owning something is just dumb when you could be paying $1,000 plus rent to a stranger every month. :-)
“Yeah, it’s always better to give your money to someone else, than to build equity. /s”
It beats building equity that will soon be debt due to a market bubble. If a house has a reasonable price of $250K based on wages, etc, and you are building equity after buying it at $500K, you are screwed.