angrymoppet

angrymoppet t1_j2uidab wrote

It's a waste because that rental will always be at a premium over an equivalent mortgage. The mortgage payment I'm making today -- which is considerably less than that shithole apartment I was referring to -- will be the same mortgage payment in the year 2045, by which point I presume that same apartment will cost multiple times what it costs today. I've spent a considerable amount of time looking at both apartments and homes in a 40 mile radius from where I am. There are no apartments that are charging a "fair" price for what is being offered. The money is being vacuumed up by greedy corporate fucks intent on breaking the back of the working class to keep them in perpetual servitude. The funds spent on that rental premium is cash you can't divert to your own financial independence and security. Make no mistake, the money is a waste. It's a necessary waste for the millions who have no other option, but every second you're not calling it what it is provides unnecessary cover for the super rich to continue applying their boot heel to your neck.

14

angrymoppet t1_j2ufxnc wrote

Because it's true. After years on the renting treadmill I was lucky enough to be able to stay with family for awhile with my girlfriend to save the money to put down on a home. Every month that we pay our mortgage it's money going into an investment that we can later sell or own outright. You pay an obscene premium to rent and get no such long term security from it. It's money straight down the toilet. It used to be worth it to rent because the price gouging wasn't so bad that you couldn't set aside money while renting to save up for a home. That's no longer the case for most people, unfortunately.

18