[JudyinCanada]

When young people are forced to pay a fortune for rent, the chances of them saving to actually own their own home are slim to none. Not only are the prices too high, but with a minimum down payment, mortgage payments are impossible. Pure evil.

[TexasFreeper2009]

Rents go up ... because the price of the home goes up.

And rent will ALWAYS be more than the cost of buying the same home. Because the investor has to pay the mortgage and still make a profit.

So when:

property taxes go up, rent goes up
interest rates go up, rent goes up
land prices go up, rent goes up
construction materials go up, rent goes up

etc etc

renters often think they are not affected by these things, but they are, but are to ill informed to know it.

The truth is, when you are renting, you are paying someone else’s mortgage. The main reason the vast majority rent is because they wrongly “think” they can’t afford to buy, but that’s flat out wrong.

What they “can’t” afford is the .... DOWNPAYMENT.

And they can’t afford that because they don’t know the financial discipline to save the money up.

[Alberta's Child]

I have done some real estate investing on the side, and I’ve found that detached single-family homes are rarely ever rented by people who are stuck in an endless renting cycle because they can’t afford a down payment on the home. The typical renter in that market fits one of the following categories:

1. They are wealthy professionals who are on temporary, but long-term (six months to two years), work assignments. In many cases their employer is paying the rent.

2. They are families that don’t expect to stay in the same location for a long time. My neighborhood has a number of rentals where the tenants are military families, for example.

3. They are patient, astute home buyers who rent for a period of time to make sure they like the neighborhood before making the commitment to buy a home.

[deport]

Yep the world we live in today is ever changing and has been
since the beginning of time. What this part of earth called
N. America will look like 50 years into the future would be
interesting to see. Just think back to 1482 when Columbus
sailed the ocean blue and what this land looked like at that
time and what happened to the original inhabitants and who
was responsible. Enjoy your allotted time as best you can.

[Jolla]

Fiancee and I just bought a house. Rent in Amish apts was $2600 mtg payment $1800. Fortunately we had both sold houses so we had the down payment which many and now many more will never have.

[Thommas]

Many (most) new home developments attach HOA contracts to all sales. After the mortgage is paid, how is this
different from a perpetual rental agreement?