Author Topic: Renting Is Cheaper Than Buying, Almost Everywhere  (Read 383 times)

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Offline WTTCHMN

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Renting Is Cheaper Than Buying, Almost Everywhere
« on: June 10, 2021, 08:05:37 AM »

Offline Cornflakes

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Re: Renting Is Cheaper Than Buying, Almost Everywhere
« Reply #1 on: June 10, 2021, 10:11:03 AM »
Sure, landlords in all those cities are running charities where they pay more in carry costs of the home and rent it out at lower rate to benefit renters. That is how economics work.

Offline Cares

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Re: Renting Is Cheaper Than Buying, Almost Everywhere
« Reply #2 on: June 10, 2021, 02:57:14 PM »
I think the study is a little bit flawed in that there are many tenants who are on lease agreements prior to the rise of home prices this year. And to top it off many landlords are worried about raising rents and then having the tenant simply claiming they are COVID affected and stop paying rent all together.

Offline Cornflakes

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Re: Renting Is Cheaper Than Buying, Almost Everywhere
« Reply #3 on: June 10, 2021, 10:16:10 PM »
It is a bait click article.

They say San Diego median rent 1500 and median payment for ownership is 2500.
$1500 gets you 500 sqft apt to rent in SD.
$2500 carry cost gives you $500k purchase power, which gets you 1300 sqft.

Apples. Oranges.

Offline freedomcm

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Re: Renting Is Cheaper Than Buying, Almost Everywhere
« Reply #4 on: Yesterday at 06:28:26 AM »
Landlords have a lower cost basis, since most purchased in prior years.  particularly with prop13.

Sure, landlords in all those cities are running charities where they pay more in carry costs of the home and rent it out at lower rate to benefit renters. That is how economics work.

 

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