"We have seen corporate landlords—who own a larger share of the rental market than ever before—use inflation as an excuse to hike rents and reap excess profits beyond what should be considered fair and reasonable."
My biggest head scratcher now that I’ve bought a house is “huh, my mortgage is locked in now, no matter what the market does… Why did rent keep going up if my landlord’s mortgages were locked in?”
Property taxes, market rate, costs to repair and maintain, interest rates increasing. How much money, beyond your mortgage, have you spend on your house since you moved in?
A few hundred a month less. I’m not suddenly drowning in money, obviously, but it’s interesting paying less for much more, and that money actually benefitting my net worth vs being flushed down the toilet
You weren’t actually asking questions to gain knowledge, you just want to hide the facts so it looks like you’re right. Home ownership is expensive, and for most people, isn’t ideal, renting is a huge need on our society so I don’t have to give up 50k cash right now, so I don’t have to pay 15k/yr in property taxes, a 20k water heater bill randomly and I can move next money if I want to. You being willingly ignorant to those don’t change the facts.
Dude calm down. Is it really so crazy that my apartment was more expensive? Do you really need to know the exact dollar figure of price difference? No, that’s my private financial info and my prerogative to give you, but fuck it, here’s some ballpark figures;
My rent was $1299, pet fees added $75, water, trash, electric, and internet came out to about $300. So per month for basic nessesties, my apartment was about $1675 a month. 900 square feet. Oh, and they were going to raise rent $120 if I renewed
My mortgage?
With escrow (insurance and property taxes) is $990 a month. My water bill is $42 and includes trash, electric about $150 (and it’s the peak of summer so, obviously that’s going to drop), internet $55. Places totals at roughly what, $1250? That’s a 1600 square foot house with a 2 car garage and a yard.
Rentals have their place, no shit, I’m not saying that. I’m saying I’m pretty certain rental prices get jacked up to meet “market values” regardless of what any landlord is paying to own the rental.
Of course buying a house is harder, not everybody can drop the money down or afford to furnish or purchase appliances. But the month to month costs are, in my opinion, really weird with how much cheaper it is to own than rent. An apartment the same size as my house would run like $3500 a month here and be expected to share with roommates. That’s almost triple the cost of mortgage and utilities. Yes, you rent property to make money, yes there’s the added convenience of not being responsible for the yard and maintenance, yes, there’s value in being able to move easily, but $3500 a month is too fucking much for an apartment, how could anybody possibly save up for a house when rent is costing so goddamn much. I only saved up because I deployed and moved my wife into my parents house!
And just to top it all off, I’m overpaying for this house. My friend bought a bigger house in a more expensive area, closer to the city center, but it was a few years ago. He’s paying like $750 a month for the mortgage!!
Dude calm down. Is it really so crazy that my apartment was more expensive?
See, you haven’t read anything I’ve written, nor have you actually taken time to understand the costs.
Your apartment, monthly, may be more than your mortgage. What about the cost of home ownership like I asked? You’ve said so many words, even offering to tell me your monthly internet, to avoid telling me how much money you’ve spent on your house since ownership.
I sincerely don’t know what you’re looking for. The fact that down payments exist? My down payment and all the money I’ve spent since for furnishings and appliances was less than a year’s rent. Where we get to MY point. The down payment and all the shit I bought is my equity now, not a landlord’s, and it’s money everybody would have a much easier time saving up if rent wasn’t so diabolically high.
Maybe you’re talking about the extra associated costs of maintenance, home renovations, etc. A couple hundred a month extra in .y.pockrt certainly makes that a lot more manageable.
In the 3 years I’ve lived at the apartment, I’d have spent in the ballpark of 60k on the monthly requirements. Even with the costs being front loaded for house purchase, in 3 years I will have spent a good deal less, for a good deal more.
I guess I’m confused about why you’re insisting I’m lying, or obscuring the truth, why you’re so confident you know more than me. It my own finances, I am pretty certain I know at least vaguely what I’m talking about, whereas you’re just guessing based on what you want to hear, what you think I should be saying.
Property taxes, market rate, costs to repair and maintain, interest rates increasing. How much money, beyond your mortgage, have you spend on your house since you moved in?
Less than my apartment ever was 😜
And what’s especially nice is everything I buy and repair goes to me, belongs to me.
Sure I had to buy a washer and dryer, lawn mower, more furniture, etc, but that’s all mine forever.
The only cost that’s higher at my house than my much smaller apartment is utilities.
How much?
A few hundred a month less. I’m not suddenly drowning in money, obviously, but it’s interesting paying less for much more, and that money actually benefitting my net worth vs being flushed down the toilet
See, you can’t even answer a simple question.
You weren’t actually asking questions to gain knowledge, you just want to hide the facts so it looks like you’re right. Home ownership is expensive, and for most people, isn’t ideal, renting is a huge need on our society so I don’t have to give up 50k cash right now, so I don’t have to pay 15k/yr in property taxes, a 20k water heater bill randomly and I can move next money if I want to. You being willingly ignorant to those don’t change the facts.
???
Dude calm down. Is it really so crazy that my apartment was more expensive? Do you really need to know the exact dollar figure of price difference? No, that’s my private financial info and my prerogative to give you, but fuck it, here’s some ballpark figures;
My rent was $1299, pet fees added $75, water, trash, electric, and internet came out to about $300. So per month for basic nessesties, my apartment was about $1675 a month. 900 square feet. Oh, and they were going to raise rent $120 if I renewed
My mortgage? With escrow (insurance and property taxes) is $990 a month. My water bill is $42 and includes trash, electric about $150 (and it’s the peak of summer so, obviously that’s going to drop), internet $55. Places totals at roughly what, $1250? That’s a 1600 square foot house with a 2 car garage and a yard.
Rentals have their place, no shit, I’m not saying that. I’m saying I’m pretty certain rental prices get jacked up to meet “market values” regardless of what any landlord is paying to own the rental.
Of course buying a house is harder, not everybody can drop the money down or afford to furnish or purchase appliances. But the month to month costs are, in my opinion, really weird with how much cheaper it is to own than rent. An apartment the same size as my house would run like $3500 a month here and be expected to share with roommates. That’s almost triple the cost of mortgage and utilities. Yes, you rent property to make money, yes there’s the added convenience of not being responsible for the yard and maintenance, yes, there’s value in being able to move easily, but $3500 a month is too fucking much for an apartment, how could anybody possibly save up for a house when rent is costing so goddamn much. I only saved up because I deployed and moved my wife into my parents house!
And just to top it all off, I’m overpaying for this house. My friend bought a bigger house in a more expensive area, closer to the city center, but it was a few years ago. He’s paying like $750 a month for the mortgage!!
See, you haven’t read anything I’ve written, nor have you actually taken time to understand the costs.
Your apartment, monthly, may be more than your mortgage. What about the cost of home ownership like I asked? You’ve said so many words, even offering to tell me your monthly internet, to avoid telling me how much money you’ve spent on your house since ownership.
I sincerely don’t know what you’re looking for. The fact that down payments exist? My down payment and all the money I’ve spent since for furnishings and appliances was less than a year’s rent. Where we get to MY point. The down payment and all the shit I bought is my equity now, not a landlord’s, and it’s money everybody would have a much easier time saving up if rent wasn’t so diabolically high.
Maybe you’re talking about the extra associated costs of maintenance, home renovations, etc. A couple hundred a month extra in .y.pockrt certainly makes that a lot more manageable.
In the 3 years I’ve lived at the apartment, I’d have spent in the ballpark of 60k on the monthly requirements. Even with the costs being front loaded for house purchase, in 3 years I will have spent a good deal less, for a good deal more.
I guess I’m confused about why you’re insisting I’m lying, or obscuring the truth, why you’re so confident you know more than me. It my own finances, I am pretty certain I know at least vaguely what I’m talking about, whereas you’re just guessing based on what you want to hear, what you think I should be saying.
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