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Originally Posted by Hawkeye
Hey, goat rodeo! I think I saw you on a "rich kids of Instagram" post recently...
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Don't miss my point. I'm saying I'm living in a house well beyond my means in the middle of everywhere but I'm paying peanuts for the privilege. I'm not rich, just careful with my money.
People, especially a few generations older, always say "you're renting? you should buy a home!" I go home, spreadsheet out the numbers, and scratch my head. Why?
Quote:
Originally Posted by bosster hymen
it's pretty simple: paying for the moment vs. paying into a stable (and easier) future. i've done both at different times in my life, and while i've experienced some losses from real estate investments, overall it's a huge win.
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I'd argue it's far from simple. Finding the correct balance is difficult. I have been building a sizable liquid net worth for the last decade; yet I do not own a home, have any plans to own a home, and rent with roommates. What people spend on a house I am able to save and invest. I have spent many hours pouring over spreadsheets analyzing where my money goes; I am far better off renting when quality of life is taken into consideration.
Then again my ideal lifestyle is probably three or four (probably rented) pied-a-terres in LA, NYC, Paris, and a Swan 80. One can dream. I realize that for a lot of people having a home that you own is the most solid thing in life, whereas I find the lack of ownership to be freeing.
My original point was don't knock a dude in his 20s with a M3 because he rents.