[mothered]

It is interesting to see how someone can be motivated simply by manipulating others.

Manipulation Is not simple by any stretch of the Imagination.

Deceitful and manipulative behavior can be a sign of antisocial personality disorder.

Thank you, professor. I'll take It under advisement.

Does every entity at your disposal include other members of this forum?

My answer Is obvious.

[Boudica]

But you would be paying a lot just in interest, especially now.

It depends where you're located.

In my locality, the Interest Is down to the bare minimum.

You need to take into account interest, property tax, Insurance and general maintenence.

When renting, you still need to pay contents Insurance. Property tax for a home owner Is a one-off payment. As for maintenance, It's not significant.

Not to mention the overall increase in spending you are going to do filling the house with furniture

Only done once, at the most twice.

My point Is, In 30 years time you'll own the home/apartment, as opposed to having nothing to your name at 60 years old and still paying rent.

You don't need renters insurance, especially if you don't own anything and here in Canada at least, property tax is annual. That's a few grand a year you piss away for nothing.

With home prices in most urban areas these days you are going to be a wage slave for the next 50 years trying to pay off the mortgage.

You'd be better off getting a cheap rental, split it with someone, invest all the saved money in Luna and then retire in Mexico in less than 30 years. With a house at a fraction of the cost while you enjoy all the sweet gains you will make on Luna.

I think everyone needs to take advice in this thread with a pinch of salt. Every country/region will be different when it comes to disposable income/living costs/rent costs etc.

Where I live, you will pay rent worth almost double what the mortgage is worth. Renting simply isn't worth it. Most people cannot afford a house outright when they first move out the parents place, and rarely have a credit rating for a mortgage, so are stuck renting, paying a huge sum of money for renting, and unable to save for a mortgage & deposit/house outright. It's a very vicious cycle where I am. I also know there are places in the states where the house prices are comparable to my regions house prices from 30 years ago, without a massive difference when comparing income. This means much more disposable income in those US regions, than where I live.

Long story short: Totally depends on region/nation and personal circumstance/opportunities.

[Quitelargegenitalman]

You don't need renters insurance, especially if you don't own anything and here in Canada at least, property tax is annual. That's a few grand a year you piss away for nothing.

With home prices in most urban areas these days you are going to be a wage slave for the next 50 years trying to pay off the mortgage.

You'd be better off getting a cheap rental, split it with someone, invest all the saved money in Luna and then retire in Mexico in less than 30 years. With a house at a fraction of the cost  while you enjoy all the sweet gains you will make on Luna.

I speak from experience, and not something I've Googled or received advice from others.

I've never paid a single dime In rent, played It smart by purchasing my home In my teens, and now living like a king - no debts and can purchase a 5k laptop without noticing a dent In my finances.

I get what you're saying bro but I'm talking about today. Not the best time to enter into the real estate bubble just when rates got hiked and valuations are starting to drop, at least in Cuckanada. I think we will be entering a buyers market soon. If I could travel back 5 years and buy a house for 100k I would but now only Elon musk can save me

[mothered]

I get what you're saying bro but I'm talking about today. Not the best time to enter into the real estate bubble just when rates got hiked and valuations are starting to drop, at least in Cuckanada. I think we will be entering a buyers market soon. If I could travel back 5 years and buy a house for 100k I would but now only Elon musk can save me

I understand your point.

It does depend on locality and many other factors.

[Quitelargegenitalman]

I get what you're saying bro but I'm talking about today. Not the best time to enter into the real estate bubble just when rates got hiked and valuations are starting to drop, at least in Cuckanada. I think we will be entering a buyers market soon. If I could travel back 5 years and buy a house for 100k I would but now only Elon musk can save me

I understand your point.

It does depend on locality and many other factors.

Yeah it really does piss me off when I think about the chances I blew at getting properties for good prices before the market exploded.
I could have been chilling with a house basically paid off, but fuck it. There are places I could move and still get affordable housing, city life is overrated anyway, I have seen shitty cardboard townhouses here sell like 250k over asking, its only a matter of time before blood hits the streets.

[mothered]

Yeah it really does piss me off when I think about the chances I blew at getting properties for good prices before the market exploded.
I  could have been chilling with a house basically paid off, but fuck it. There are places I could move and still get affordable housing, city life is overrated anyway, I have seen shitty cardboard townhouses here sell like 250k over asking, its only a matter of time before blood hits the streets.

I know, It's very tough out there.

A few friends of mine owe In excess of 350k on their home. When I was young, I was fortunate to have financial guidance through my dad - which Is why I'm In a very comfortable position.

[Turbando]

I'd say house if you can afford it

[UnlimitedDesk]

It's crazy, because it depends on the situation. If I'm fairly settled, I'd like to have a house because of the possible rise in value. But an apartment is less of a commitment, and allows you to change locations more often

[DrAlvarez]

When you buy a house or property, you become the owner of private property as opposed to renting.

[futterbuckz]

Renting is unfortunately the only viable option for most families living in large Canadian cities as of today. I would need to push at least $300K/year to afford a 3 bedroom in Vancouver/Toronto, with obscene mortgage payments. Suburbs are not much cheaper. Should have bought 10 years ago... good news for me is that the market is currently crashing by up to 25% in my area, so I might finally be able to buy something soon. In the meantime, it's renting all the way and investing my savings -- which gives me about the same/better ROI than real estate would.

Either way, I'm frankly unsure if paying $8K in taxes every year + maintenance + ever increasing insurance is worth the trouble of becoming an owner. Now I know the situation is very different in rural areas and other countries, so take this with a giant grain of salt.