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10takeWonder t1_jbv5s4z wrote

Reply to comment by littylikeatit in For the love of God, someone please sell me your home by clairedelunar

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.

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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

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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.

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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

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BingBong022 t1_jby989v wrote

Unemployment isn't ticking up, way more jobs were created in the past few months than analysts predicted

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littylikeatit t1_jbyevm1 wrote

It has ticked up in the past month. Analysts are usually wrong

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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

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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

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BingBong022 t1_jbz44yc wrote

I'm diversified af my guy, got a few rollies, cocaine, and a titty club. Bet

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BingBong022 t1_jbz4crf wrote

They have been trying to increase the unemployment rate for 2 years now 🤣

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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

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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

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cowperthwaite t1_jc2377h wrote

There's also property taxes to consider which drive up monthly/year costs.

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