Posted on 08/08/2023 11:26:37 AM PDT by ChicagoConservative27
High housing prices nationwide are leading many to view renting as a smarter move than purchasing a home, according to a report released Tuesday.
More than two-fifths — 44 percent — of renters surveyed by RealPage said that renting is a better option than buying. The top reason among all surveyed was affordability.
Broken down by generations, Generation Z renters led the way, with 51 percent saying renting is the best choice.
For the survey, RealPage asked 25 questions to 2,000 multi-family renters ages 55 and below across the country whose income ranged between $20,000 to $200,000.
(Excerpt) Read more at thehill.com ...
This tells me that Gen-Z isn’t saving and spending all their extra money on expensive coffee and internet/data plans to watch TikTok.
The young should form a REIT and buy homes as groups.
That tells me that they think renting is better because they can bag on paying it and disappear to the next town. Kinda like they are doing with their student loans.
Let’s check in with them after ten years when they realize all the equity that they didn’t capture and all they have to show is a pile of cashed rent checks.
Translation in order to suggest The Hill article is spin....
Gen Z -- "it's all I can afford," so yeah, I "prefer" renting because it's all I can afford....
Hardly proof of renting being a "better option" when you can't afford the option and so, therefore, it ISN'T an option.
The TOP reason is you can't afford another option. FJB.
Here by the beach in Jupiter, it’s a minimum of $3.5K/month annually for a 2/2.5 w/ a walk to the beach. Not too long ago, the seasonal monthly rates weren’t much higher. Now they start at $7k/month.
“...because they can bag on paying it and disappear to the next town”
I’ve owned exactly ONE rental property and I rented to that guy. In Santa Cruz County, CA, you simply cannot get rid of non-paying tenant. It takes six months and innumerable public notices and sheriff tacking notices to the front door.
Turns out the guy did this over and over.
Of course, there’s nothing new under the sun. This was 40 years ago!
Renting would require me to pay three times what I currently pay in mortgage payments. Those properties must be in very poor condition.
I own a home. It’s still very expensive to own a home. Property taxes, homeowners insurance, new roof, new gutters, new paint job, resurface driveway, new appliances, interior painting, new carpeting, termite policy, bug policy, HOA fees, outside landscaping and utilities. I’m sure it might be cheaper, but not by much.
For much of Gen Z, renting is the ONLY option. That’s how the globalists want it.
Depends on the home.
We live in a very inexpensive home.
Paid it off decades ago.
Never traded up.
No regrets.
Am renting on Oahu... Gives options...
Old country saying, “pouring money down a rat hole”
Actually renting vs buying is an easy calculation at the 7% rates, unless the buy is exceptional value for you...rent. More often than not, until you reach a house you want to hold for 10+ years, renting is the way to go in a market that has a good posiablity of being a crisis. Most of the people on this board are either paid off less than a decade left on a loan at 3%.
https://www.beta.reventure.app/dashboard
Rent/Buy. Your particular location, zip code, local tax status may favor one or the other, if you dont look at the data your guessing. Throw myself back to 32 years old, if 50% of my income was rent and investments vs a house and taxs that I consider overpriced... im renting and Dimond handing meme stonks. If I dont trust the local politicians... im renting. If I dont have good vibes about my industry, employer or boss, the state or federal government...I am renting, seen to many housing crashes at 52.
Fact!
Love Jupiter. My Dad had a place in Stuart. Loved it.
Per Zillow, the estimated rental price on my house is more than twice my 15-year mortgage payment.
I think I have chosen wisely.
They never learned responsibility.
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