New research show it’s 40% more expensive to buy than rent

New research shows it’s 40% more expensive to buy than rent as home sales and mortgage rates increase.
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[@user-qr7ee2cp4y]

If renting was cheaper than owning, all those investment companies wouldn't be buying up homes

[@MadStyle1911]

That's how the corporations buying these homes want, make it harder to own a home and make us become a nation of renters.

[@spaceindian3769]

An d th en p rison ers😮

[@E1VM]

Yea, sure, whatever you say

[@HappyHappy-sq4ij]

Both parties turning a blind eye to private equity and international companies buying homes in droves. Thanks y’all.

[@E1VM]

The only people i see buying homes are couples/families.

[@angelodiiorio8303]

Yeah cause both parties are probably getting a kickback

[@shawnlawrence973]

Monetary enslavement coupled with hyperinflation = greatest crime ever.

[@Facetiously.Esoteric]

Except for the big difference of actually owning something when you are done paying it off, which you dont have with renting. You are paying off someone else's property instead of your own.

[@rabidgoon]

unless by renting you are saving enough money that your savings and investments exceed any equity you'd get from owning a home. this would especially be the case in urban markets where home prices are drastically inflated right now.

[@mattw7949]

Agreed. I think someone didn't full do the math on this piece. If people weren't making money renting, they'd sell the house.

[@jacobnapkins1155]

People can't afford it right now too high sales price

[@annienunyabiz6627]

If it were more expensive to buy than rent then all the mega corporations and investors wouldn't buy; there'd be no profit.

[@wmpmacm]

That is the whole point. A nation of people who rent to Wall Street landlords.

[@spaceindian3769]

An d have a b owl of grue l and a cup of dir ty d ish wa ter😮

[@exeuropean]

I bought a house in 1998 for 235000 in California; close to San Francisco. In 2018 I sold it for 835000. Given me agross profit of 600k. Tell me that it is not a good investment. IN 1998 235k for that house was not cheap but I bought the cheapest house in a great neighborhood. I cared more about the land ( 2 acres) then the falling down house. After 20years it still was the same. Th epeople bought it for the land and tore down the main house. So when you buy a house look at location and amount of property. Those are the 2 things you cannot change. Never fall for the house or the bathroom or the kitchen or the color etc.

[@shanealbertson8]

And your interest rate wasn’t anywhere close to what it would be today… there were more houses available back then… taxes weren’t as high as they are now…. Ya a lot of things factor in buying a house today would be like buying a house in 2007 you’ll be stuck over paying on a house that won’t have equity becuase you prepaid for it now 😂😂😂

[@raxjax8787]

not all of us get to choose what year to born to get our foot in the door when houses are 100k - 200k back in the 80s 90s and 2000s

[@manonamission2000]

but now airbnb can distort a great neighborhood

[@supernotnatural]

1-) The 2.48% inflation rate means $235000 in 1998 is equivalent to $450499.48 today. 2-) $192,491 was the median home sale average in '98 Los Angeles County. In 2024, it's $833,000. 3-) There was 30 million people living in California in '98. Today it's 39 million people. Add that 9 million people buying demand to your calculation. 4-) Interest rate. 5-) Unless you have a time machine, come with it and take us to 1998 or stfu ok?

[@ryanretirement6662]

I rather buy a house over renting because rent price are go up over time. I bought my house in cash the only i pay is property tax and HOA fee every 3 months for my house.

[@jazzyj6640]

That’s beneficial if you’re staying in that location long term.

[@supernotnatural]

you have money ,this isnt your porblem to talk u dumbass

[@TH-1988]

I would still buy a home, sadly. I would rather pay for something I know I'll own, than to rent and profit someone else.💯

[@aguy3203]

I own nothing and I am not happy

[@untouchable360x]

If it flies, floats, or f. Rent it. Do not buy depreciating assets.

[@Shane-bx8ws]

Bullshit!!!! We were looking to rent, and the house we bought actually has cheaper payments. And our credit isn't great.

[@rabidgoon]

it really comes down to how much equity you could get for the money you spend on the mortgage and other ownership expenses vs how much money you could save and invest by renting. if your mortgage/taxes/insurance and upkeep are so high that they swallow up any equity you are building, whereas if by renting a small apartment you can save a bunch of money every month, then it's better to rent. the problem is, people don't want to rent what they can afford. they want a nice apartment in a cool part of town. so the possible savings are negated. on the flipside, many homebuyers also set their sights on homes for which the full price of ownership exceeds their means. personally, i live in a tiny studio apartment and save a ton of money. buying a house in my area would make very little financial sense unless i found an unusually good deal.

[@bobwoods1302]

You gamble in the stock market while paying off someone else's mortgage. I`ll buy an investment I can also live in.

[@bobwoods1302]

That's how it should be. I can't believe I pay less to carry my own home than my friends who rent.

[@samushunter0048]

Your friends are not paying to fix a roof, plumbing, etc.

[@bobwoods1302]

No but every month they flush $5000 down the toilet. @@samushunter0048

[@Novastar.SaberCombat]

Property taxes.

[@ap774]

It’s been this way for years. I bought 14 years ago in California and I was paying $4000 a month in mortgage when I could rent the same home for $2500. I’m glad I bought as rent is now $5000 a month and if I were to buy today the mortgage would be $8000.

[@MrNiceGuy485]

Anyone looking to buy a home already knows this. Has been this way since the interest rates have been over 6%

[@moresalad221]

To top it off, these homes are made with cheaper materials compared to homes built before the 1990s.

[@MrRibby88]

I am 54 y/o. I pay $20,400 annually for rent. If I buy, I will have to pay $16,000 a year in just TAXES + HOA. That doesn't include the mortgage!

[@110311DONTWANTCHANNE]

with a 20% downpayment, it would be slightly cheaper monthly to buy my home

[@wmpmacm]

Not the best idea right now? Correction: No longer the American dream.

[@jazzyj6640]

Buying is only beneficial if you’re going to stay in that area for 5 years or more.

[@bobwoods1302]

How can you compare living in a house you own to living in an apartment you rent? I`ll take BBQ's in backyard over waiting for an elevator any day

[@supernotnatural]

If you have a million dollars, go buy your house. Not everyone as rich as you, if u had brain you would know that. People go to cities to work you genius. Not everyone dumb as you to work in a county that didnt invent cars yet.

[@AMG-BENZ-1]

Cost of ownership is not the full picture, obviously.

[@Generic321]

When you want to relocate to advance your career you'll find renting pays dividends in flexibility, time and peace of mind; cost savings are just an added bonus.

[@nyneeveanya8861]

Renters don’t build equity is true. They also don’t pay for roof, plumbing, appliance repair or replacements. I was lucky to have been able to buy a home when it was about the same amount to rent or buy a home. First time I had to replace a furnace my parents paid for it and I paid them back over three months. I then got my first credit card to have for those types of emergencies. Have another card for everyday use but keep the one for purchases that I can’t pay off monthly..

[@samushunter0048]

Renters can build equity by taking the difference of what they would normally pay in home ownership cost(s) and investing it. Whilst renting a place for $2,000 a month

[@stephaniejames4940]

I work in the mortgage industry and talk to customers daily who are selling their homes due to increases from property taxes and insurance depending on where you live. Taking that money from the sale to move somewhere cheaper, maybe for a year and then regroup. Waiting for the rates to drop.

[@davidhowell1415]

Old research shows that paying something off means you own it. That same research showed that renting doesn’t go away and house payments do

[@user-sj5ju4jb7t]

Most of the US is just empty, uninhabited land, why aren’t governments taking measures to increase inventory?

[@mattw7949]

Is that the government's job? Free market and all that?

[@user-sj5ju4jb7t]

@@mattw7949 you seriously don’t think part of a govt’s job is to ensure its citizens have places to live? What about clean water to drink? Is that also free market?

[@A3Kr0n]

Oh poo poo, high rates. When I was your age... Interest rates were over 18%. Talk about hopeless feeling at 20 with no job.

[@elliotjones3098]

owning a home is more expensive in the immediate compared to renting, OR over the long-run ? Dumb news article. If you rent or own, no matter what, you are still always buying a home: either for yourself, OR your landlord. You think when you rent you aren't buying...you are, just for someone else. Let that reality sink in for a minute.

[@constellationorion8679]

First they make it unaffordable to own the space you live in then they gaslight you into believing life as a serf is what you really wanted all along

[@charlesritter6640]

They want us to accept this "new normal". (Renter nation)

[@superoldgamesaturday3277]

Biden's America.

[@john_wick1]

owning a home builds your asset but renting is an expense out right... but yes monthly payment is the pain point

[@lordcatdarkstar2186]

nice try corpos but we're not drinking your coolade. stay ungovernable people.

[@Dfgbuiiyyyybb]

Also don’t forget rising home owners insurance. Remember you can’t get a mortgage if you don’t have home owners insurance.

[@hkschubert9938]

Paying rent is pizzing money away down the toilet.

[@ButcherBird-FW190D]

I rather notably question the premise behind this YT viedo. 40% more expensive to purchase than rent ? Highly unlikely. The reality is if you are going to stay somewhere less than 3 years or so, most likely you should rent. 3-4 years ? Borderline call. 4 years, or 5 years in the same place. At least as best you can envision.... You should likely purchase a home. Just my two cents. I'm age 60 and have seen this game go back/forth for a long, long time.

[@LebronCCP]

i think the economy is doing well, all tenants paying on time

[@c87kim]

Renting will catch up, it can’t happen all at once because consumers don’t adapt well to quick change

[@miguelsaucedo8789]

The haves keep having more and more. Then ask why is crime so high. Only till crime goes to the suburbs will this stop.

[@ButcherBird-FW190D]

We in the suburbs are well armed, and many of us have prior military experience. Bring it on, son.

[@miguelsaucedo8789]

@@ButcherBird-FW190D Being armed doesn't mean you're not likely to get caught off guard and become a victim. It's happened before. Good luck

[@ButcherBird-FW190D]

@@miguelsaucedo8789 That's what I'm hoping for !

[@j.kelsey9926]

Regret my home purchase so much.

[@FlipMacz]

I wouldn't rent from these garbage apartment situations, if you paid me!

[@Fatboylo1980]

Free money isn’t free. All that stimulus money isn’t so great now is it.

[@oxwellstoer5318]

Nice try.

[@js6728]

and of the 3 values of driving along your neighborhood, what you think of it, is not valid

[@peterbedford2610]

Yup. Thats why wall.street is buying into the landlord business in droves..😂

[@naturalfreeness322]

Is it supposed to be surprising news, gen z and millennials live this reality.

[@First1ToComment]

Thx captain obvious

[@ImOnGearSoWhat]

ALL PART OF BLACKROCK's PLAN

[@superoldgamesaturday3277]

"I did that!" Joe Biden

[@mattw7949]

Yes, Joe invented renting.

[@superoldgamesaturday3277]

@@mattw7949 No, but he did the economy like his daughter, so he IS responsible for this mess.

[@760HorsePower]

Zalinsky must be held accountable for the horrific attack on my boi Putins city

[@robt5213]

Biden vision of his America. Trump 2024

[@burtcooper612]

duh

[@js6728]

huh, afraid for your lives

[@user-uf1uq4yn1q]

You only need 2 jobs to pay rent, yeah 😊a real bargain...

[@davidhowell1415]

More abc propaganda. Just regurgitating the wef propaganda

[@jamesjack6991]

Bidenomics in action

[@user-xt7nm6ic7e]

Vote.2024.sr.joe.🌏👍💙💙🙏

[@noneshere]

Bidenomics strikes again 🙄

[@jazzyj6640]

What does he have to do with anything?

[@user-xt7nm6ic7e]

Trump.big.lies.🌏🤡👎👎👎

[@danasmith858]

Paying 40% more to own the property instead of never owning it? How is this? Not a good deal

[@spaceindian3769]

th ey have an e vil age nda called the N WO! Wh ere ha ve you b een?

[@user-xt7nm6ic7e]

Trump.lies.lies.👎👎👎🤡🌏

[@fadmap9676]

More lies lol My mortgage is 770 less than what my rent was post covid.

[@MadStyle1911]

Not lies, you got lucky.

[@fadmap9676]

@MadStyle1911 not luck, US rent statistically goes up every year on average 7-15% depending on location. Mortgage, if fixed, does not go up. It is cheaper to buy than to rent long term. The left & MSM want to brainwash people into thinking you can't afford a home. They want to make it where you can't afford a home, and they want to keep breaking apart the middle class, making people poorer and poorer. They are intentionally hurting people and driving them into poverty and control by feeding you lies and keeping you from advancing your life and future.

[@rabidgoon]

my rent is $1150 in the philly suburbs and it allows me to save/invest far more every month than any equity i'd be able to build via purchasing a home in my area. i'd probably have to drive two hours into the middle of nowhere in pennsylvania or live in the worst philly ghetto to be able to match that money i'm saving with equity from a home purchase. and then my self-employment income would drop because i'd be far from where i earn. not to mention how much of my savings i'd need to dip into for a down payment.

[@fadmap9676]

@MadStyle1911 not luck, US rent statistically goes up every year 7-15% depending on location. Mortgage if fixed, does not go up ever. The MSM and the dems contine to feed people false data, scaring them into thinking they cannot move forward in life and that they are stuck. They intentionally are making the middle class poorer and poorer, making harder to get out of poverty, intentionally telling you, you can't do this or do that it's too just just continue to rent this lease that it's better for you and the environment 😉. It's all bs it's all market manipulation, they are breaking apart the middle class to keep people in poverty and driver others into poverty as well and making you believe them it's ok with false information.

[@gringoboy701]

It's almost like America consists of more than a single housing market and this is simply an average across the entire nation... This moron probably think because it didn't rain in his city yesterday that it didn't rain anywhere on earth.

[@frankicon9521]

Stupid analogy. A person can always lease out the property they bought