Comment by crazygringo
Comment by crazygringo 3 days ago
The subject here is property investors. You seemed to be claiming that they would buy a property and not rent it. So I don't know what "other sectors" has to do with anything?
And no, renters are not better off owning, except in "niche situations". I genuinely don't know where you've gotten that idea. It depends highly on your local market, but on average renting is cheaper than owning, and it frees up a lot of money that can be invested more productively.
You seem to have some kind of prejudice against renting, which I genuinely don't understand. And your concept that the cost of housing ought to be "trivial" for people to move is incredibly unsympathetic. An assistant professor will move for a better chance of getting tenure. For a fellowship. For whatever. A lot of people can't just "change jobs". They have training for a specific niche, and often advancing their career requires moving to a different city, full stop.
1. I've heard of buying properties and developping them to resell at a profit. I believe there has also been firms that held off properties to raise prices, weren't there?
Edit0: actually, your point was about "buying properties to rent", but you're talking about the avg investor "renting until they sell". I can see a massive distinction, as some properties are rentals their whole lifetimes, and some are only in parts while trying to sell them. But you seem to propose that all investors are waiting to sell and "bought to rent"?
2.You can write things and those things not be factual y'know? You can just say that renting is the best choice for most, while I've provided you evidence yo the contrary, whoch you lovingly ingored twice now. Census.gov is very biased, I know.
I've rented every single day of my adult life, it's not something I'm prejudiced against, whatever you might think that means.
It is crystal clear to me and anyone I know who rents: renting is more expensive than owning, and owning a dwelling is a life goal for most people.
I really don't understand your position - other than trying to justify your own investments to yourself.
That's too bad for them. As a plant worker in manufacturing, I wish them to find everything that makes them happy - and recommend getting a union job.
Edit1: What's the line again? You will own nothing and be happy?