"Josh should I rent or buy a house?"

[@platypusputin8067]

You know you can trust the financial advice of a random man on the Internet when he wears a vest.

[@DonTinker]

Specially if he can save that much gold on Runescape

[@808lilmac]

With an english accent and cadency

[@gabfontaine639]

Even more if its a cgi vest

[@trolltothebank]

Ya especially if it’s a png

[@TheIJJ]

It's not a vest. It is a waistcoat.

[@omgitsbees]

As a house owner, the one bit of advice I wish I was told before I bought my home, is to avoid a home owners association.

[@Fro609]

feel like that is common sense. Agreeing to have someone govern your land and what you do with your house is never a good plan

[@omgitsbees]

@@Fro609 its really not, there are a million different considerations, its very stressful trying to find and buy a home, and so its a step that is easily overlooked. and HoAs intentionally try to hide themselves until after you sign the mountain of paperwork. My house required my signature 200 different times. Over 80% of homes in the U.S. are also under an HoA too, so your options are pretty limited. There is a very good John Oliver episode about HoA’s that is available on KZbin.

[@toastedt140]

​@@Fro609it is

[@JohnDBlue]

It's common sense to me only because of the infinite HoA bad memes and stories 😂

[@lokitakahashi3042]

HOAs are cancer.

[@darkevilazn]

Honestly, the rent in some places is so high, that buying a house is much cheaper in the long run. But its the getting the mortgage part that is hard. If you can't save up 20% for a down payment for a house, you probably shouldn't be trying to buy a house, or that house at least.

[@KillerDeadXero]

What if it takes you 5 years to save up 20% should you do 5% for fhb?

[@menjavlafitta]

Yeah but what difference is it really? You get a morgage, which you pay off, to own the house, as long as you pay the morgage, and unless you do you lose the house and get kicked out. So do you even own jack shit? Isn't it just a rent with different words? Maybe just cheaper then. Oh and also maybe you can't even pay off the morgage every month. So then you just pay the interest. Which give you even less ownership of your home. And it's just a fee for lending the money, morgage, loan, whatever you may call it, in the first place. So you just pay for being able to live in your home! Am i crazy or am i wrong?!

[@Tinyflower1]

It is but in many places being able to get the loan to be able to buy a house is going to be difficult for someone who has to consider which option is cheaper (usually they have no choice but renting) at least in my country the people who buy the most houses and apartments are people who get them via a loan, then rent them out so someone else pays their mortgage but doesn't get to own the place they essentially funded.

[@Unfortunately_Mickey]

Yeah in my area rent can often be more expensive than mortgage payments, but very few people qualify for the loan.

[@kosmosu2]

This is absolutely true. I bought my house in 2021... my monthly payments is much cheaper than the rent around my local area. And that is including property taxes, and water and waste utilities. sometimes my own energy bill does not meet what rent is around here.... kind of crazy.

[@certain_sloth]

Instructions clear: Punched a lawyer. Will report on results later.

[@Zamoshi]

BRO, I thought exactly the same thing "What if I took it literally and actually hit a lawyer?" XD

[@OldKnightAMV]

I've been living like a poor person for the last 15 years, pretending to be broke, only buying the essentials. Today I have a house and a car, but I still live like I'm broke lol.

[@TehAntares]

That raises the question whether the frugal life is an actual joyful life worth living.

[@cattysplat]

@@TehAntares Even more fun when you work harder to earn more money, then get taxed away more of that money.

[@valitsemllaluokanavahyvaks3556]

This is probably gonna be me in 15yrs time xdd, im currently living of 150$ a month while studying and almost done with my studies, im still gonna live like a broke bitch even with a proper wage.

[@gabrielaleactus9932]

​@@valitsemllaluokanavahyvaks3556what field of education are you on ?

[@IT-ry8xt]

I remember how there was this narration that "those youngster do not know how to invest" few years ago... just stop buing coffe right? Lets calculate that: So if a house is on the market for £300,000, you would need between £45 - £60k in UK, if you drop the £15 coffe and calculate it by 365 each year, you can have the money for the house in just 9-12 years, so you better start now and hope the inflation and prices do not rise in those 10 years like they did in last few decades or you are just screw... so have your coffe and at least by happy for 5 minutes a day.

[@Allforthefunbaby]

300k is the cheapest home where you live?!?

[@hannessteffenhagen61]

​@@AllforthefunbabyI know right, where the hell are they getting a whole-ass house for only 300k? That's what you pay for a small flat around here.

[@Allforthefunbaby]

@hannessteffenhagen61 I was saying the opposite lol, where I live 150k will get you a house. Its not gonna be on the cover of Country Living magazine, but it'll do.

[@hannessteffenhagen61]

@@Allforthefunbaby Lol, where's that? I don't live in a particular prestigious area, but still the only way you're getting a house this cheap over here would be if it has serious problems with it (like unfixable rot, or in need of major renovation costing in excess of the expected value of a new build) or if it's auctioned off as part of a repossession.

[@TeeEllohwhydee]

Where are you paying £15 for coffee!?!

[@ReturnToSenderz]

Another thing to consider is how long you plan to live in the area and how easy it is to sell a house quickly. Sometimes you realize that the area (or the job you moved there for) doesn’t suit you as well as you thought it would, and it’s significantly harder to get out of there if you have to sell a house, ESPECIALLY if the housing market tanks while you’re there. It’s totally fine to start out renting and then buy once you have more experience with what the area has to offer.

[@Rowdy_Raider]

Instructions unclear, hit the financial adviser.

[@tuliomesquita1294]

Josh clips are amazing, holy cow this man can throw in some serious/important stuff in the most sudden cenarios

[@pragmat1k]

Buying a house depends on a few factors. How big is your down payment? How good is the interest rate? How long do you plan to live there? If you buy a house for $400k in the current US market with a 5~6% interest rate with a 30 year mortgage, by the time you pay off that mortgage you will have also paid $400k in interest, so you've paid $800k for the house. Then there is the money you have paid in property taxes and insurance which also evaporates similar to rent. Additionally you have the closing costs you pay as both a seller and a buyer. This can be close to $8000 for a modestly priced home. If you're selling you are paying commission to your realtor, they do not get paid unless that house is sold. What this all means is, if you are buying a house with the intention of living there short term, depending on rent prices you could end up losing money even if the mortgage cost is similar to your rent rates. Reason being it is more expensive to furnish a house, furniture is expensive to move and may not fit in your new place. The property taxes, insurance, interest, closing costs, and commission for the realtor is also lost money. If you you just got a new job and moved somewhere it is very smart to rent for a while before buying. You may not like the job, or the area. You may get headhunted for a better offer that will lead you elsewhere. Real estate is a great investment over a long period of time, not the short term in most cases. If you plan to live there for a long time there is the chance that a refinance after you've put more into the equity of the home (effectively increasing the percentage of the down payment beyond 20% or more) you may qualify for a lower interest rate. If you do I highly encourage you to look at a shorter mortgage than 30 years. The fewer years on the mortgage the less the interest can compound and you can save yourself literally hundreds of thousands of dollars. Right now both the rental and buyers markets are shams. It's very difficult to find a good deal on either side. Waiting too long to buy can also lead to you being left behind as the prices of homes continue to inflate. Buying while in an unstable situation can result in you losing money. Best of luck.

[@rikkatakanashi727]

lol I love that ppl think that's just a choice ppl have? like - there's no way I'll be able to get a mortgage any time soon, literally most ppl I know are forced to rent bc they cannot do anything else

[@soundrogue4472]

At one point in my life I was able to until the sudden spike in houses went up.

[@Crackie420nl]

Amen brother

[@lordfizzz]

"it's so easy just borrow 30k from your family buy a house then borrow another 50k from the bank to renovate, flip the house and repeat, so easy" like bro if I miss a shift of work I have to eat canned beans for a few days to recoup

[@soundrogue4472]

@@lordfizzz More like borrow 300K

[@briansilva3765]

@@lordfizzz Most people in the internet apparently live in another planet where they don't have to work everyday to sustain a family, and if you get late or miss a day you are fired and a entire family is screwed

[@killerkram1337]

I rented until I could afford a house. I got a pretty awesome house and this thing will do me well for the next 30 to 40 years. But yes, I rented first because I could not buy the house yet. This is a good thing to do as long as you live a lifestyle where you are not going to moving a lot. I still travel, I still do vacation, I still adventure, but my job is always in the same building and my wife works at the hospital down the road and that is not going anywhere soon since I was born there and its still going. We are really set here. But if your job sends you all over the place on the regular and you do not sit still or if you dont make decent money then yeah you probably should not try to buy a house.

[@XZaguer]

It's so insulting people undervalue your job solely because it's not traditional. Josh is most likely earning double the salary the person that asked the question in the first place

[@JohnDBlue]

It's even funnier to think if he said he's a somewhat successful producer or actor, both of which are certainly true for what he does, the reaction would be very different.

[@MHanzsYT]

So damn true brother

[@aubreymorgan9763]

I remember hearing when another streamer hired an accountant when she started becoming successful and she tried to explain what she did for work and they kept thinking she was doing porn online. I couldn't imagine how much harder it is for guys to explain if the first thing that comes to mind for a woman online is nudies.

[@dougs8196]

In the US, if you aren't sure you're going to stay in a place for 5+ years you should rent. Pretty simple.

[@dougs8196]

@@froggin-zp4nr in the US a standard 30 yr mortgage you’re paying mostly interest and little toward the principal in those first few years. Your houses value would have to shoot up to get that money back if you’re owning for a shorter period.

[@krschu00]

Why not build equity for five years and sell for a profit when you move? Rent is throwing money in a trash can that's on fire.

[@krschu00]

@@dougs8196 Even if your interest is twice as high as your principal you're still building wealth every month with that principal.

[@dougs8196]

​@@krschu00 Starts at like 80%+ interest and

[@krschu00]

@@dougs8196 KZbin is your friend. Lot of maintenance can be done yourself, just be smart about it and smart about which maintenance parts you get. Also, selling a house yourself these days is extremely feasible. Don't forget to factor in the appraised value since homes rarely depreciate. If they do, it's not for long. I bought my home in 2017 for $155,000. It's worth $280,000 now. Most of that is because of shitty US policy but even if it weren't that high the gains would still largely exceed maintenance costs.

[@alxiong]

I searched for this video, it has been days and I have finally found it. Thank you, KZbin and Josh.

[@biohacktv]

The actual math behind owning a home is vastly more complicated than people think and this idea that buying is better than renting is largely the product of people not really understanding the phantom costs of home ownership. There are of course the more obvious ones such as closing costs and repairs, but often massive ones, such as the opportunity cost of not having your money invested in a better returning asset such as a low cost broad based index fund, are ignored. The new york times rent vs buy calculator is a really good one for running the actual numbers, even if the defaults for expected investment returns returns are probably lower than they should be. I've been in both situations, where the real cost of owning a home would be more expensive that what I would pay to rent the same place, and the reverse where buying was cheaper. There is no magic answer and anyone who tells you buying is better than renting or renting is better than buying as a universal truth, quite simply does not understand the real math behind housing costs.

[@dafire9634]

That sounds like you want to make a hour and a half video on the subject, go on

[@Tinyflower1]

the magic answer is that we need to get rid of the parasitic species known as landlords

[@MariaCorrea-mr2gy]

Thanks. I cant afford to buy and most likely never will, my parents used to tell me is throwing cash into the trash bin and I partially agree. I mean, only if you have a family they can reasonably benefit from your purchase and I dont have enough money to think about gettting in a relationship without becoming a burden, and lightyears away from thinking about starting a family.

[@Rynewulf]

A consistent through line of most higher education, is that they dont know much apart from how to get hired teaching higher education. But its difficult to skip past it, because most basic jobs and especially industry entry jobs (often including unpaid internships) will actively and publicly snub you if you lack higher education without the connections or experience that you usually only get on the job. Everything is so competitive its just inbuilt that you need the time and wealth to absorb debt just to get started

[@hedition9346]

I remember reading a post about the math of buying coffee over 10 years and it only adds up to like $10+ to 20k. I was like, but its about the lifestyle not the coffee. People who buy $5 coffee tend to walk out with a $5 sandwich too.

[@cattysplat]

The argument coming from boomers is immediately flawed. They could buy a house in average 2-3 years of full salary. Now that's average is 10 years+. Saving small amounts isn't going to make any difference.

[@oicrusader2143]

it's about having a mindset of getting the most out of your money and saving as much as possible.

[@IRMentat]

OTOH I was getting priced out of where I lived before I lucked out. Rent was doubly the price of the mortgages but saving the deposit was almost impossible even without any frivolous spending. Rising Rent and bills are all the money that I was once putting into savings. No TV, no coffee, pre-budgeted monthly outgoings.

[@safs3098]

I really hate that argument. They're basically saying we should live off of ramen noodles and tap water while doing nothing with our lives but work for a whole decade to afford a standard of living that people in the 1950s could get from working minimum wage and enjoying life. This whole economy is f'ed up and I'm hoping for a collapse, not just of the economy but civilization as a whole, we need a restart

[@Sebastian-117]

@@safs3098 you can make your own coffee for cents and it is just as good from the shop. Things are still messed up, but you can still make small changes. $1000 of savings a year won't help much when it comes to a home's down payment, but it can still make a large difference in your life

[@Animaniac-vd5st]

I had to make the decision about renting or buying just a few months ago. The house i now rent for 800/month would have cost me 350k€ which would mean that at the current (insane) 4.5% annual interest rate, i would have to pay more than 1300€ per month in interest alone. The current situation with exploded values of houses in addition to the high interest rates makes it completely impossible for normal people to buy.

[@carolean4360]

The houses are only worth as much as people are able lend money for. They will go down, bringing a few over leveraged banks with them, if the rates are kept high and long enough. This is what happens when you liberalize the credit market and allow so called asset credit creation.

[@wacksparrow88]

This man speaks the truth. As a brute American, you want to immediately disagree with him because his charm can sell fish to a cat but he speaks the truth.

[@Azrael79a]

By the time Schools or Universities start teaching about the application of modern social media, there will be dozens of new things that are more important and then by the time people graduate, there will be even more things that are totally different and thus, no matter what, they can never keep ahead of the curve. Whether it's politics, business, anything really, everything is constantly falling behind the wave of the times. This isn't something new though. It happened all throughout the last century as well.

[@tylersockington]

There's a very in-depth video by a financial advisor in Canada that goes over this topic. His name is Ben Felix on KZbin. The short of his video: your emotional considerations in buying or renting are probably more important that the financial decision. Renting can come out ahead financially; owning can come out ahead financially. On average, renting slightly edges out buying, but if you won't feel satisfied if you don't own a home, then you should buy a home. If you like moving from place to place and owning a home doesn't make sense, then you should rent. Look more at your lifestyle and your future emotional goals and use those as your driving factor to making the decision.

[@Jaigarful]

Yep. There's a lot of questionable advice right now built on the absurd housing price explosion. "I made X dollars equity on my house over the last 4 years! You should also buy!" 30 year mortgages, you pay so little the first 5 years. Like what, 5% of the principal or so? So if you move around a decent amount, unless you're gaining equity from home prices going up, you're just breaking even in comparison of renting vs. buying+ closing costs.

[@axsprime]

Buying my first house this month, helps that I have family that works in the relator industry and that houses aren't expensive around here.

[@konrad8541]

3:51 as someone who doesn't speak english as a first language, the first time I saw someone talking about mortgage I thought they were talking about buying a plot of land where they want to be buried when they die because i know the word mortuary and what it means. Because of that I said to myself "wow, westerners really prepares for everything" lol

[@BrooksieD1992]

I stock shelves in a supermarket full time for a living for $25/h, in 6 years I saved $190,000 AUD ($615/week put into savings), I save 69% (hehe) of my annual income and live off the rest. If you're working and have a stable home lifelife, don't rush to move out of your parents, take a few years and save save save.. Pay for your share of everything, don't mootch off of them but put the rest away. I would have spent $109,000+ on rent in 6 years in my city for a 1-2 bedroom apartment of poor quality that I didn't need to spend. I want to mention I do understand not everyone has a good home life & moving out basicly needed but if you have the opportunity to do this, do it..

[@trolltothebank]

5:51 sup of tea is literally the RuneScape drink sound clip

[@Volfur2251]

i 100% agree that social media is something that needs to be covered in education at some point. So much of our lives can be determined by what we post on social media to the point it can often be a deciding factor if someone gets a job or not these days. Sadly so many people are completely unaware of this intill it happens to them

[@aLfRemArShMeLlOw]

I literally have friends that say renting is useless and live with their parents in their 30s... Whilst I've lived in 4 different countries in 10 years and now I did buy a house. Not my dream house, sure, but my experience is irreplaceable. Also, these are people that say renting is useless whilst also in relationships... Sure, buy a house before living together, which changes the relationship dynamic completely, that won't go wrong at all.

[@JasonX909]

Props to the chatter who asked Josh to do his taxes, idk why but that got me pretty good

[@aubreymorgan9763]

please do a series on covering the social media aspect of drama and entertainment, I think it would be super useful for many. Even if its like a patreon pay wall thing.

[@rtbear674]

Thing is, the house you want, is not be the house you can afford. When my parents bought their house, there was nothing around the house they bought. It was way outskirt of the city. Only after 15 years later, then 1 shopping mall finally opened. These days people feels as if the hospital, the university, the shopping mall that was built over the years had been there in the first place. Because the younger generation lived all their life with those features enabled right from the start. I bought a house too, but can only afford it in a neighboring city, but all the jobs in my field is in the main city. Now the problem is, -do I commute from my house? And get all the inconvenience from living far away, drive for few hours. -or rent out the house while renting another house myself? is the house I bought even rentable? if it isn't then wouldn't it mean I'm paying twice? 1 for maintenance the house I bought, tax, some neighborhood fees etc. While pay to rent another place to stay. -what if I rent my house and get some a hole. and the tenant thought I'm super rich landlord that exploit poor people like them. while I'm actually renting another house in another place to another person. and then they destroyed the house that I haven't even fully paid and just wasn't able to use because I work in another place.

[@Edzter]

Nah you see what you do is. uy a house, make it so the basement is like 1-2 fully fledge single room appartments, rent them out for desperate people who cannot afford an actual appartment, and have them pay your mortgage so you're never really in debt.

[@lushen952]

One thing to note is that a lot of people do not understand that the VAST majority of their payments for the first 10+ years go towards interest and NOT equity. What this means is that all that sage wisdom about how you're making an investment is 90+% BS for the first 10 years. Money that goes to interest may as well be a rent payment. Take a look at your interest/equity (amortization) schedule. It will make your jaw drop - I have no idea why people never seem to have ever looked at It. So you should buy a house when you feel that you aren't going anywhere. Best time for MOST people would be when they get married and have their plans sorted out with how many kids they're going to have. You can then purchase a house you plan to raise those kids in and eventually it will actually turn into an investment. If you move in 3 years you basically just paid rent for 3 years.

[@calebcarney1933]

Last year We had social media class in game dev school so that was cool.

[@zoogie980]

Something that people often forget about renting vs owning is the cost of upkeep. Renting you dont need pay for a new roof, water heater, AC, etc. Imagine needing multiple things done on your house in the same year. We talking 10s of thousands of dollars. Renting you just make a call to your landlord and sit back. Even newer houses have issues sometimes.

[@RaeneYT]

As someone who doesn't drink coffee at all, it humours me how so many people spend an absurd amount of money on coffee shop coffee. Home coffee is different from Starbucks. It reminds me of Apple where it feels like a culture and lifestyle thing where if you're not indulging in that trend, you're not human, at least in the US.

[@anusaukko6792]

Yeah I can't grasp people who EVERY DAY go and get an overpriced shitty coffee from starbucks or something. I admit, I waste too much money on snacks, but I would never go and buy something overpriced af DAILY

[@206Zelda]

If you can manage it, get a home of given the choice between renting and owning. Go with 'No HOA, no townhome, no lease-to-rent'. Live and travel light until you can guarantee a home for yourself. This is one path in life you can take, but I was happiest with this assortment. I was prior-military, no down payment needed, but the escrow was a tough hurdle.

[@wakkawagga443]

How much would you spend on the interest part of the mortage? How much time will you spend on problems you only have if you own, how much will you spend on repairs, how much will the house depriciate over time, what do you expect will happen to the market in the next 20 years. Do you expect the interest rates to go down after 2025 or stay high? I would wholeheartedly said buy just 2-3 years ago, i arrived at a probably rent now and if the baby boomera starts to go byebye, i think i will say rent for sure. Like so many topics… it depends.

[@raidcrhonos]

Damn, that sip at the end was about to sound like the drinking SE of minecraft

[@eduardoborges506]

This is objectively the best answer. I rent atm because i have no idea where i will be in the next 3 years. No idea where i wil find a job after graduating, so cant do much else but rent. How and why would i invest in a house in these conditions? I dont. However, buyign a house when you can is the better economic decision long term.

[@TinyBitBrit]

Maybe I'm not ambitious enough to own a home but personally as someone who rents through a Housing Association it gives me comfort that generally speaking if something breaks that they will cover it. Same goes for upgrades down the line. Maybe if I'm ever in a better paying job perhaps I can think about a mortgage, but on minimum wage renting suits me just fine.

[@Blahblahblaafmn]

Very complex question that I'm glad Josh met with a lot of humor initially. This is not something anyone should just ask some random person about: it's a decision with extremely long-lasting consequences (potentially lifelong) and that requires a great deal of expertise to properly answer (the personal circumstances of the individual asking are just another big factor). As Josh said, renting is "viable", but what I think he may have glossed over is that people have a very strong stance on buying because of two key factors: the first is that homes almost universally accrue value over time (inflation drives it up even if the property itself isn't lucrative), and renting gives you NONE of that value. If you rent, you're basically throwing money down a hole just to have the right to live in the space; if you buy, you're paying a much higher price, but whatever value you've put in is effectively "stored" in the home. Long story short, buying vs. renting is not an easy question kids, don't ask random streamers for advice on how to fuck or unfuck your life.

[@benjaminparent4115]

That's bulllshit if you excuse me the expression houses do not universally accrue in value overtime, It depends from a lot of factors some completely outside of your control, like how popular is your area, but the main one that drive their price down is simply the house aging and unless you actually spend money to repair and replace what breaks overtime, value is going to go down. Home ownership cost, and you aren't guaranteed a profit. Also inflation doesn't mean an increase in value. because well everything inflate not just houses, so if your home value just follow inflation sure the amount of money needed to buy it increase but the buying power of that amount of money doesn't. A good example I have come from my own parent. They bought their first home 45000 $ and sold it 195 000$ dollars some 25 years later. You might think this prove they made money but no. First you need to take into account inflation. So those 45 000$ dollars 20 years ago are currently worth roughly 80 000$. So their "profit margin" isn't actually 150 000$ but 120 000$, but to just break even you actually have to assume it costed them less than 400 dollars per month for them to pay back interest, pay taxes, and maintain and repair their house. And given the actual amount of work we did on that house I am pretty confident we spent more than 400$ per month in money and labor. And my parent got lucky the area where they lived became hugely popular. Don't get fooled by the selling price. It is not because it is bigger that you actually made a profit. But that doesn't mean homeownership isn't worth it, it is actually hard to store great amount of wealth overtime without losing a bit of it. You might lose money with your house you are probably going to lose more money renting.

[@VonGrav]

the best thing about owning a house. Here. Once you are at 75% downpayed of the value of the house. You can get a different loan.. So while paying itnerest and downpayments, i also have money up to 75% of the value of the house.. so say its payed fown 65%.. i got that 10% as working money, or whatever. I pay.. 4-5% interest on the house.. (used to be nearly 1-2%, but we might get back here) I get 22%ish taxcuts on the interest I pay. but also I make safe investments that brings back 7% on average a year. More money. Rich people have maxxed out loans for a bloody reason. They got working money. Not dead money or just giving their money to someone doing investments :)

[@jazzp454]

😂 instant advertisment for financial advice

[@iBenjamin1000]

yeah I like the idea of owning a home but I don't exactly want to be responsible for all of the things that I would need in terms of home maintenance.

[@sarahthebogomol9683]

That's why a lot of child actors and child sports players that have potential now get tutoring on these things. Taxes, investments, all that kinda crap. Because when you get those million-gazillion deals and you just waste the money to buy yourself and your friends cool cars and swag clothes, you end up in debt even. We need the same mindset of teaching professional youtubers/esports gamers/actors etc. about using their money wisely, and the world is SLOOOWLY getting to it 🙃

[@pitrex111]

You pay 3 times the house value with 30 years mortgage, at this point sometimes renting might be a better option it always depends on your situation.

[@Septimus_ii]

With a mortgage, the initial payments are say 80% just going to the bank and 20% going to you eventually owning a house. With renting 100% is going to the landlord. Neither is a particularly good deal

[@xazarl3381]

Before or after college/uni depending on what you do Stay at home get a job do overtime tell your parents what your doing focus on a skill and also have fun then buy a house.

[@gronthgronth2628]

I was studying history on my Uni. Our professor despised the idea that people can just... make a video about history, play with it and make it FUN for younger generations to learn. For them, the only true way for historian, is spending X years in archives, for bare minimum pay, and then write a paper or book that will get read by 10-20 other professors. The most prominent author from my university, a professor teaching for 40 years at his cathedra, a national expert on subject of WWI wrote a book.... that had 5000 copies printed. No reprints. A dude from my classes decided to open a YT channel about history of our country in the years 1900-1950. Video by video he has above 200k views, publishes weekly. In a week, that dude reaches more people with knowledge, than our whole institute had since its conception in 1950's and on a monthly basis more than the whole university hat attendees since its conception in XV century. Not once was he invited even for a guest talk for new scholars. the univeristy likes to point out that he got his masters there, sure. But they dont invite him. Its elitism paired with sheer inability to understand the change of scale

[@tonyolsson686]

i dont have the money to buy a house. there is way more things that needs to be taken care of then renting an apartment. for my paycheck i just bleed money by existing so i dont go out for food almost at all. like i dont even have a car my country is full of busses and trains that takes you anywhere you need to go and im sticking to that then paying 1000% more on a car.

[@MeoithTheSecond]

Rent!, pay off my mortgage, once its paid off i'll give you a pat on the head.

[@evi6199]

I would get a mortgage if possible but bad credit and bad decisions in life so I can only rent, even worse I just had a section 21 off my landlord as they want to increase the rent. Renting sucks but what can you do

[@nakofoefire]

Josh, try going to Finland with that proposal - I hear their education system is way more open to modernization.

[@IL_Bgentyl]

Renting tends to be better in overall cost. But a home does give an oportunity for equity. That being said owning a home is expensive and you’re liable for everything. That being said homes are not assets. They are liabilities unless they are cash flow positive.

[@haseothe8th]

im still paranoid and every new upload checking if youre wearing a real vest.

[@Nyarlathothep]

Now I'm wondering whether he bought one of those quaint but cramped little terrace houses around London, or a proper detached house away from it all. Probably a terrace. Josh couldn't survive in a rural setting.

[@Trenz0]

I really doubt how rural anything close to London could be lol

[@PaladinfffLeeroy]

His cat was yelling at him.

[@misakamikoto8785]

I rent an apartment and not buying a house, because I can use that extra cash for investment. If I buy a house, not only I'm in debt, and I don't have any left over cash for investment and savings for emergencies. I put savings in CD and other investment such as stocks and they have pretty high ROI.

[@legomanshorts252]

the parents playing the long game killed me.

[@icekiller1594]

Bro I fucking misread the title as should I rent or buy a HORSE 💀

[@FangerZero]

Social media effects EVERYONE's job just some more than others.

[@polarsbear668]

I read "Josh should I rent or buy a *horse*" and thought this might be extremely hilarious, my disappointment is immeasurable and my day is ruined

[@DominPlays]

Hey, I'm also playing osrs and some other games. Just wanted to ask your thoughts about TOA? it got me hooked. Maybe you already have a vid about it?

[@wu1ming9shi]

I'd say if you're in a country that has some kind of "ground tax" where you still have to pay the state for the privilege of having a house on the ground you build it. Might as well hire something instead because the house is never truly yours in that case anyway. If you live in a country where when you buy a house and there's no such thing as taxation of the ground you build on, then obviously buying a house should be less expensive in the long run because you don't have to keep paying the state for the privilege of building a house on there. So yeah, again it depends on where you live and what the rules are there.

[@ZapatosVibes]

Just upkeeping the house is a big responsability, whereas just investing the money in a safe fund is 0 responsability.

[@kungolof]

A considerable benefit of renting is that you know exactly what you're paying every month, that stability affords you a lot of other freedoms.

[@0x0404]

You need to make the decision for yourself. Do you want to be stuck in one location for years and have to take responsibility for everything but in the end you own the house and it eventually costs less. Or do you want to pay nearly the same amount as that mortgage forever and never own anything? It's the same for everything really. The most expensive thing is to not own it and rent it.

[@TehAntares]

With the housing costs so high it makes me wonder: if the concrete and other building materials and workforce are so expensive, how did we manage to build entire cities ?

[@EminemLovesGrapes]

Take cars as an example. 20K Euros gets you a basic new crapbox kia where not even a decade ago a car like that would've cost you 12K euros. A lot of it probably has to do with environmental and safety standards.

[@regolith8173]

Well spoken

[@osmacar5331]

For legal reasons, don't physically hit the lawyer or solicitor.

[@wobblysauce]

This isn't financial advise... this is a Runescape video.

[@TheClintonio]

I could buy but it'll be like, countryside like Chiba and I'm a city guy and Tokyo house prices are ridiculous.

[@BuzzaB77]

A house being an asset is a common misconception in finance. A house is a liability. Anything that takes money from you is a liability. If you can get a second house on buy-to-rent that pays off the first house, then the second house is an asset

[@amazingkool]

I actually clicked on the video because I misread it as "horse" instead of "house" and I thought that was really funny

[@fgregerfeaxcwfeffece]

Okay, so how do I afford the avocado toasts I have to stop buying? I feel like I am failing a good bit before "step 1".

[@cdoremus99]

In Colorado this is literally not possible unless you live in the hood. Every single house in this state is seemingly owned by an HOA. Its fucking obscene.

[@Blueprint4Murder]

You should buy some land and build a teepee on it then run power to the teepee for your computer.... the uk doesn't have any forests never mind.

[@procrastinatingstudent9773]

the only reason i am buying right now over renting, it's cheaper in the long run (5 years). but that is currently costing me 25k in a deposit and i was lucky i had a inheritance (as bad as that sounds) and about 3k in legal. if your not that lucky well your fucked inj the uk ...

[@LoDaFTA]

If you can buy, buy. If you can't, rent, and invest in yourself until you can buy a house. Having property will always be better than having nothing. Even if you want to move around a lot, you can always rent your house for people who can't or don't want to buy a house.

[@soundrogue4472]

The problem is we can't save up; I've been saving up but then POOF, house prices went up, house prices are going up faster than I can earn money.

[@SpartonWolf]

This is not true, buying doesn’t always make sense compared to renting. Always do the math and be honest on what each will cost you.

[@LoDaFTA]

@soundrogue4472 That is why I said to invest in yourself. There is no point in saving money if you can't live comfortably, and if you can live comfortably, then you can save money. Saving money doesn't mean having it rot in a savings account. It should be invested somewhere that can multiply it. Just take a look at the stock market indexes. If you invested any amount of money 10 years ago, you would have 10x the money by just investing in some safe stocks.

[@chancethewizard2336]

this clip goes hard

[@majestyc0359]

I bought a house. The mortgage is fine, the escrow is killing me.

[@krschu00]

Take your insurance out of escrow, only use it for property tax. I bundled my auto and home together and pay it monthly and I pay wayyyy less now that I have my eyes on it every month. Also don't use a broker.

[@blondymonk1535]

ALWAYS buy. Rent is a waste of money. You'll be "renting" your own house if you buy. ONLY rent if you just can't take a loan, or you intent to travel a lot.

[@MO-nj7tj]

well his advice is good .. but it is missing another thing. you kind of need to increase your revenue little by little in order to keep up with mortgage , simply reducing your expenditure can help but increasing $$$ you get monthly will make your life easier.

[@KillerDeadXero]

Saved. Best teacher ever

[@dylanherron3963]

At 3:03, the absolute legend following Josh with a cheeky Harry Potter reference, made me laugh harder than it should have.

[@liukaosborne]

those avocado toasties tho 👌🥪

[@nuthenry2]

what most people don't realize is that with a 30-year mortgage you're paying half of it in interest, so that house you took out for 250k you'll have to pay 500k in mortgage payments

[@Cadaverine1990]

What most people don't realize is that a 30-year rental plan is 100% of your money goes poof and you will never see it again. At least on the mortgage you still get 50% of your money back.

[@kaijuultimax9407]

Yeah but in 30 years the land alone is going to appreciate about 250k in value (my childhood home costs $400,000 more than it did when my parents bought it) thus making the interest payment worth it.

[@soundrogue4472]

@@Cadaverine1990 Considering how hard the banks fucked my parents; what you're saying isn't 100% true.

[@soundrogue4472]

@@kaijuultimax9407 Here is the thing; that only happens if more people enter your nation, birth rates are DOWN; if birth rates are down and migrants get affected by this, your house price goes down. You're assuming no wars will happen, nothing will happen to bring down the population in any shape or form.

[@sameerdodger]

@@kaijuultimax9407 Yes but if you can't sell that house for $400k then it's not actually worth 400k then is it? You're stuck with that house unless you're lucky and a wealthy landlord comes to take it off your hands to make money from renters. Cycle continues. These two replies above sound like they've never heard of a 'property ladder'. Selling your mortgage is incredibly difficult unless you're lucky and selling to a landlord or first time buyer (which barely exist these days because no young people can afford 400k for a house). If you're not lucky, you have to wait for the person who you are selling your house to also sell their house, you also have to look for a house you can afford yourself and thus you are waiting on the ladder whilst the housing market continues to tank. You have to really commit to want to live in the exact same location for 30 years, that's most of your adult life. It's really not as simple as "duh bought a house stonks". Edit: My comment regarding the two replies above is not including @soundrogue4472, they must have replied whilst I was writing my comment

[@golasticus]

I would've believe everything he said but then he said "Protoss turtle" instead of Terran.

[@TheFreshMakerHD]

I can’t believe he said that

[@crinthewizard]

came for a witty one liner and left with an intellectual critique of education... very pleased with my ROI, now if only i could buy a house 😅

[@hiftu]

Option 3: win the lottery and you can choose either.

[@yautl1]

The one other thing you didn't mention is how much work a house takes. The yard needs mowed, the gutters cleaned, whenever a pipe breaks or the roof leaks you gotta fix it. All this stuff either takes time, money, and effort to learn how to fix things, get the necessary supplies, and actually fix the thing, or a whole lot of money to pay someone else to do it for you. While if you're renting it's the landlord's responsibility to deal with all these things (whether they actually do is another issue.) If you want a family or you really want to own a house, awesome! But if not it's a surprising amount of work just to keep a house in decent shape and if you don't really need or want a house, you might be better off renting and doing the things you actually want to do with your time instead

[@theguyonyoutube4826]

Rent is more expensive long term, buying is more expensive short term.

[@Xortrox]

You pay yourself instead of sending money to the void like you do when renting though and you can pay down faster :| banks denied me a loan over 10 years ago which I'd be nearly done paying now if they ever gave it to me, instead I paid 5-6 years of expensive rent to nothing

[@soul0172]

sometimes you literally can't afford anything besides renting

[@insu_na]

yeah, the price of being poor: you have to pay even more for everything. choice between feeding your kids or taking out a payday loan which will sucker punch you hard soon enough? You're gonna hate whichever choice you'll make, but you'll feed the kids and work yourself to death paying pointless debts that rich asshats randomly decided are what the poorer people need. gotta love that...

[@Perkele_Itse]

Locking your life in with mortgage, having to pay whatever happens is a BIIIIIIIIIG no for me. Never gonna happen.

[@jacobp6571]

The point of a uni is to get people into the professional field and make enough money so that they donate back to the university. That is why they wont talk about it, its a bad gamble for them

[@uuu12343]

In my country, it *literally* costs you a minimum of several hundred thousand dollars if you buy a government-subsidized property If it is private property, the sky's the limit, the lowest i've seen is like...1 million+- No, i'm not joking

[@ravecrab]

Do you live in Monaco, or something?

[@Tathanic]

Buy a House hope it doesn't have any expensive problems Vs Finding an affordable convenient place to Rent Vs Killing a politician and living in there skin.