Don't let anyone peer pressure you into buying a house with the...
@levelsio@levelsio
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Mar 27, 2025
~1 min read
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Don't let anyone peer pressure you into buying a house with the midwit argument "renting is throwing away money" which in 99% of cases is BS
Generally renting SAVES you money over buying if you will own the house for less than 15 years
New York Times made a famous buy vs. rent calculator that got updated recently
nytimes.com/2024/05/13/bri…
The same applies to most markets worldwide
The only valid argument for buying a house for most people is if you can use leverage (a mortgage) to buy it, but you will pay about the same of amount of the house price in interest payments to a bank for 30 years
Big golden handcuffs that'll keep you tied down forever while you fund rich bankers
Generally renting SAVES you money over buying if you will own the house for less than 15 years
New York Times made a famous buy vs. rent calculator that got updated recently
nytimes.com/2024/05/13/bri…
The same applies to most markets worldwide
The only valid argument for buying a house for most people is if you can use leverage (a mortgage) to buy it, but you will pay about the same of amount of the house price in interest payments to a bank for 30 years
Big golden handcuffs that'll keep you tied down forever while you fund rich bankers
Jason Keirstead@BlueTeamJK
You are falling for the same fallacy many do when they do this math - they forget to include their rent in the calculation.
If you include *your own rent*, as well as the appreciation on the property, owning your home *always* comes out ahead of renting.
The calculus should be simple - if owning property was a bad deal, then no one would ever be landlords. The fact that landlords exist at all should be all you need to know that your analysis is wrong.
If you include *your own rent*, as well as the appreciation on the property, owning your home *always* comes out ahead of renting.
The calculus should be simple - if owning property was a bad deal, then no one would ever be landlords. The fact that landlords exist at all should be all you need to know that your analysis is wrong.