Submitted by clairedelunar t3_11opd9s in RhodeIsland
littylikeatit t1_jbv4s6t wrote
Reply to comment by 10takeWonder in For the love of God, someone please sell me your home by clairedelunar
Hmmm not so sure about that
10takeWonder t1_jbv5s4z wrote
idk i looked at some apartments and honestly they were a couple hundred dollars cheaper than a monthly mortgage.... and at least with a house I can sell it and potentially make a profit. personally it seems more responsible to buy to me.
littylikeatit t1_jbv6e9s wrote
You’re highlighting all the benefits of homeownership - there’s are downsides as well. You can make a profit, but you can also be underwater just as easily. You also don’t have freedom to move as easily. You are also on the hook for unexpected expenses. I generally agree with you, but too many people think renting is “throwing away money.” I am cautious with elevated prices and unemployment ticking up. I would be patient, I think we will see a buyers market in the next few years
10takeWonder t1_jbv7bru wrote
yeah but then there's also downsides to renting, personally in my position it makes more sense to buy. I can also refinance when the market calms down but when does rent go down? again this is all anecdotal, just an opinion from my point of view and i know others personally in the same boat.
littylikeatit t1_jbv8wnz wrote
I understand. For me it’s the opposite. We’ll see where things head but I see no way the housing market will remain elevated if unemployment keeps ticking up
10takeWonder t1_jbvapdx wrote
yeah all of this seems very unpredictable
BingBong022 t1_jby989v wrote
Unemployment isn't ticking up, way more jobs were created in the past few months than analysts predicted
littylikeatit t1_jbyevm1 wrote
It has ticked up in the past month. Analysts are usually wrong
BingBong022 t1_jbytbgf wrote
Unemployment rate is 3.6%, lowest since 1969. Long term average is 5.73%. What it ticked up from 3.4 to 3.6? 🤣 O no it's the great depression! Get real, stop talking out your ass. The Fed has said numerous times that the labor market is proving to be more resilient than anticipated. January analysts predicted 187,000 non farm payrolls to increase by it went up by 517,000. February expected was 225,000 came in at 311,000. Just look at the numbers my guy
littylikeatit t1_jbyv729 wrote
We’ll see. The fed is trying to increase unemployment as we speak. Hope you’re diversified that house is just money on paper
BingBong022 t1_jbz44yc wrote
I'm diversified af my guy, got a few rollies, cocaine, and a titty club. Bet
littylikeatit t1_jbz6kkz wrote
L
BingBong022 t1_jbzymex wrote
Don't talk about yourself like that buddy
littylikeatit t1_jbzzq34 wrote
Lol that comeback sucked. Even if you do own a club you still post your dick online. Thirsty loser
BingBong022 t1_jc08s38 wrote
Just the tip?
BingBong022 t1_jbz4crf wrote
They have been trying to increase the unemployment rate for 2 years now 🤣
BingBong022 t1_jby92f7 wrote
Renting is throwing out money. Homeownership and building equity is how most Americans acquire wealth. Bought my place in 2018, it's doubled in value since. Pretty good investment
littylikeatit t1_jbyez0v wrote
Lol. And most Americans are broke besides their house they live in. I’ll stick to my plan it’s working for me
BingBong022 t1_jbytjd4 wrote
🤣👍
cowperthwaite t1_jc2377h wrote
There's also property taxes to consider which drive up monthly/year costs.
10takeWonder t1_jc2bwwk wrote
very true, something i heavily considered.
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