Is paying mortgage better than paying rent in every situation?

Is paying mortgage better than paying rent in every situation?

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No, think if you invested your mortgage in Link instead?

No, some housing markets are ridiculously overpriced to the point where you're better off renting. Also if you aren't planning on staying somewhere for a while you're better off renting.

I don't usually say this, but that's a man isn't it?

it is hard to tell
rent cheaply, trash the place, move

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I wonder this as well. I have trouble believing the value of a house outpaces a 30 year mortgage at 7 percent or something which is what my dad had on our house.

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yes

why is this cartoon so hard to read

it honestly depends. If you're living with housemates/roommates you can save a fuckton of money. I lived with 5 roommates in a 4 bedroom house because two of them were a couple. We each paid $450 a month to live in a house, split utilities which was always around $90 each give or take. Meanwhile wagies are working in the same town to afford a 1k studio apartment.

Also buying a house only really makes sense when you have job security. I see plenty of people in my age group 25-30 jumping on houses and they all have shit jobs. Security guards, photographers, one guy works at mcdonalds and his wife works at makeup store. All of them live paycheck to paycheck and all of them have to rely on gibs to pay their pay mortgage right now. That being said, they are gaining equity.

It's a tossup. Whatever you do don't live paycheck to paycheck renting. Stay with mom and dad or depend on a fuckton of housemates.

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This is one of the most obvious men ever.

Liquidity tends to be low

You can do a Google search for a map where this applies. Basically for any onions coastal city where salaries are huge, it makes more sense to rent.

I'm doing what most smart-but-no-wealth people are doing.

>work for 8-10 years in a high paying city job (make 120k with 1400 rent right now)
>move to flyover with 400-600k
>buy a house and some rental property
>work remote or easy local job
>made it

You're having a stroke.

This is my plan, minus having a good job because I'm FINANCIALLY FUCKING RUINED

ch-checked

When you take out a mortgage you are still paying rent. You are just paying rent on the money you borrowed, instead of rent on a property.

Regardless it's all about what your needs are anyway. If you can afford to sit on a property for a long time while waiting for it to sell, then it's the better way to go.

>7%

haha, kiked

No. If you have no children, it's not worth the costs to live anywhere with more than 1 bedroom. A $700 bd apartment is equivalent to a $120k home cost-wise and perfect for a single person or couple.
Also, the home you live in is not an investment. You will be lucky if your home's appreciation pays for your tax and maintenance, but you will not be able to overcome the opportunity costs of having so much wealth tied up in the home's equity when it could be making more money in the stock market.

Imagine all the gay buttsex you faggots had with each other. Was it worth it? The AIDS you have?

Accept Jesus in your life before you hurt anyone else

>this incredible projection

Nigga can't even fathom what healthy male friendships are like

>get mortgage for 3.5% APR
>deduct taxes & interest to bring it down to like 2.8% effective rate
>use capital to return 20% CAGR
Mortgage is literally free money if you have >100IQ

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the couple was a man and woman. with me, one other guy, and one other girl

we saved so much money living together. had the best parties, had the best hangouts, we had made it. now some broke aspie on biz is calling me gay from his mothers basement kek

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are you going to have kids?
how's education in flyover states?

Doesn't make sense if you're fucking up your kids future

15 year mortgage makes more sense because the principle/interest ratio is in your favor even if you sell shortly after.

30 year mortgage is ass fucking from the bank you get nothing in return ratio is flipped interest is more than the principle and any gains you've had in equity in a few years go down the drain in seller fees and last minute repairs.

Pay it now or pay it later.

I like my 15 year mortgage because I now don't have to figure out another 400,000 later in life. Cost me a ton in the down payment but I prefer the safer comfortable route utilizing my maximum earning potential early in life.

Thats a man

Kids would be far better off away from degenerate liberal cesspool cities

There are a lot of variables, but for where I live, its mostly...

Mortgage, car, insurance, and all bills costs MORE than to just rent an apartment near businesses and grocery and not use a car

15 year might be a good idea then. I might consider doing that. I don't know when I'll be in a position in my life to do so though.

You should always opt for a 15 year mortgage. You will save tens of thousands of dollars, maybe 6 figures. Also your mortgage payment should not be more than 1/3 of your take home pay. Or you will be house poor.

2 cents have been credited to your account

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Guess no home for me until I turn 30. I fell for the student loan jew too. Le sigh.

you can take a 30 year mortgage and just make more than the minimum payment each month to close it out in 15 or less years

Bad advice. Do the 15 year so it forces you to pay it down.

this is not true. Interest rates are so low now and you can lock them in, you cant lock in the rate of the market.
How can you definitively say A homes appreciation will be offset by its MX and prop tax. Depending on where you live tax could be extremely cheap and if you can do general up keep around the house you wont have to shell out for a certified professional. The only big thing is roofs, but those are good for 20-30 years depending on where you live. You can refinance and free up money or even borrow against the loan to get cash if you need it. Look at the market now, 20 Mil out of work and its still bullish! You going to go all in now, put your money where your mouth is and take out a max personal loan and go all in on the maket and lets see who wins in 5 years