Is it a generally accepted truth that people who rent are shit?
 

They are viewed as low lifes because they have not been able to achieve a financial position that allows them to have the means to buy property. Therefore property owners look down on renters and see them as second class citizens.

Correct?

Depends on the area.

I rented until I had a reason to buy a house. :2 cents:

It really depends on the market, like when I moved to Florida in 2005 at the top of the market it made poor financial sense to buy and renting was the smarter move.

The house I lived in was valued at $550k at the time and 3 years later dropped to $275k and I spent a whole lot less than $175k on rent for those 3 years.

Are you joking? There are a variety of reasons to rent that have nothing to do with being financially able to buy a house.

Real estate could be over valued and/or declining in value in your area, in which case it's better to rent then buy.

You could only plan on being in the area a short time (less then 5 years)

The opportunity cost might not make sense

There's some math you can do to determine whether it's best for you to rent or buy, but I'm not going into that here. Google is your friend.

I used to always rent before I bought this place. Moving places was great, 2 months notice and off to the next place.

The only people that are shit are the ones that trash the place and are always late to pay the rent.

Generally renters are scum. Even the ones in class A properties that rent for $1500+ for a 1 bedroom.

Places like NYC or San Francisco you have to rent if you want location because the property owners generally hold on until they die.

Other places if you fail to buy and you have over 40 years old you are pretty much a loser that failed in life.

:thumbsup

I rent and have always rented. But now I am going to buy a house, withing a year. Just have to decide where. Prices in my area are very hight. A ok 2 bedroom flat goes for $400,000+ and a fairly new house $600,000 and up. As I said, I want a house, so it will cost. If I move I can get a good and brand new house for $500,000.... Just need to convince the wife :)

You must be a renter:2 cents:

Lets see..

Renting, you get a receipt for the rental to show for it every month.
Owning, you get a larger receipt for the mortgage every month.

It really depends... in my experience, as a home owner as well as a renter.. renters who used to be home owners tend to be fantastic tenants. They tend to take care of the house, the yard, friendly with neighbors etc. But the ones who let their house go to shit, don't bring in their garbage cans or newspapers, don't socialize much.. those are the renters that give renters a bad name.

What you own or how much money or toys you have is not really that important in life.

I have owned multiple homes and also have owned apartment buildings and was a landlord..

I actually prefer renting now.. if I do not like where I am, I can just leave... Trust me, there is nothing worse than being stuck in a house in a bad market and not being able to sell it..

And being a landlord was the worst idea i ever had.. all of the laws are on the tenants side..

You could buy a home in an upscale private gated community that is awesome today, and then 7-8 years later the community goes to shit... now your property value goes down, and your stuck with it.. I know back in the day, owning your own home was considered the way to go as far as an investment, but I have since changed my outlook on that.

if i own any property in the future, it will most likely be vacation rentals.. as the laws would be on my side because landlord/tenant laws would not apply.. and even if I did invest that way, I would probably still be a renter.

bills aren't usually as bad for renting thats for sure... bought a house a few years back and between insurance, property taxes, electricity, water, repairs... that shit ads up in a hurry...

i miss renting! :)

The only plot i ever intend on buying is the one where they will they dig a six foot hole to drop my pine box.

I rent and yes, i've had landlords that think they are the dogs bollox. But they fail to remember that without the tenant they cant afford to pay their buy to let mortgage, fucking losers.

It's probably the best time ever to rent and invest your cash. Property value will sit stagnent for up to 10 year.

They used to you need to stay in property 3 years to make out on buying. That figure probably closer to 10 years now

Considering it was "home owners" (the bank owns the home, you make payments on it) caused the market meltdown I would say it should be the other way around.

Ironically I own a home (bought a foreclosure) and rent it and rent the place I live in.

I bet there are plenty of people out there that WISH they did NOT own right now!

When times get tough for renters they can just move.

Property owners are stuck, and in this economy most cannot even bail if they wanted to... without losing their shirts anyway.

obsolutely, however if you buy and plan on staying there a while its good.

When I bought my place last year I made sure it was somewhere that I want to be for at least 10 yrs.

never thought about buying something, i used to move every 2-4 years anyways. and not planning to buy anything either. i like to stay independent

A better financial position is where there is less expense and more revenue.
Renting is a lower expense.

Unless your house is 100% paid off you're not the only one who owns it :2 cents:

I have had the chance to live in several different countries and until I get tied down by a pussy and kids there's no way I'll partner with a bank on a place to live. I like my freedom just the way it is :pimp

The way I see it, if buying was better off than renting by a large margin, then corporations would be buying up blocks of houses to resell. The two have to be kept close, or an opportunity arises in the market, and there's enough people who can recognize those as it's a profitable business, clearly.

I love renting because of many reasons, mostly that I can up and leave any time I want. I can always come back and rent again if needbe. I don't even want to be in a cellphone contract, let alone a 25 year+ house contract.

No emotional attachment, I feel no desire to upgrade, and fixing I don't pay for. If I had a house, I'd be constantly upgrading/fixing something.

Also I don't have variable gas/water/electricity bills here, I just pay my rent and those services are included.

Then there's just the financials. Most people end up paying 3x what the house costs, or more, by the time the loan is exhausted.

EVEN if you had the cash saved up, taxes paid on it, sitting in a bank... average home here even in the burbs is like $400k. At 5% interest, you'd be making ~$20k on the money. So to buy the house, you're giving up that $20k every year. A $1,500/mo apartment costs $18,000 a year to rent, so in that scenario you could pay your rent and make a small profit on your money, and keep your money saved/invested/diversified.

So if it makes dubious enough sense to buy a house even if you have all the money on hand, how can it make sense to borrow a huge amount of money over 20-40+ years? It just can't.

For the people who made a bunch of money in a few years with their house, they sold in a high market and had to buy somewhere else in a high market too. Unless they started renting or moved down in life, and who does that with a bunch of money in their pocket.

Perhaps the biggest.. My parents bought a small house in 1980 for $50k. It's now worth about $300k. So in 30 years its value increased by 600%. Is it going to be worth $1.8 million in 2,040? I highly doubt it. Which means we can expect diminishing returns by a large percentage as far as housing goes.. it's overpriced as it is.

You have to live somewhere, and everywhere costs money. I think the standard of living and freedom I get with renting works for me.

Depends if you've paid off your mortgage and if you're willing to fight for the imaginary lines in the land... else you're just renting some property that the bank "owns" with fake money that doesn't exist except in computer databases and our minds.

It used to be like that, not any more though, with all these no down payment no income verification loans everyone and their dog became a homeowner, the prestige of owning a home is long gone...

I own two homes in two different countries, but from business point of view I'd say renting is some time better. The money you are going to invest into home could be used in business to earn profit. A part of profit would easily pay the rent.

I rent here in Australia for 3 reasons ...

1. Property is horribly overpriced here.
2. I make more investing my money
3. I am not tied down and can move country when needed

We've had good tenants and shit tenants. If I assumed them all to be shit, my places would sit empty.

fuck there are some trolls here

I bet you rent quence you sexually frustrated fake nick fagggot

everyone is a renter.

ownership is an illusion.

i can't see any reason not to rent. something goes wrong, pick up the phone "come fix this shit", end of story. unless, well, your landlord is scum. in which case, there's a lot of those too...

Where you live and what you own are completely unrelated :2 cents:

I own 5 properties and plan to spend the next few years renting.

Let's see, from 2003 to 2006, every mortgage broker I knew (plenty since I was in real estate) tried to pressure me into buying. I thought the annual appreciation was unnatural and was told that if I did not buy then -- no money down, of course -- that I'd never be able to own.

A lot of my friends fell for that line.

They are in upside down mortgages.

Meanwhile, I continued to move to wherever I felt like it every one or two years.

Planning on moving to Florida early next year and can because I do not have a house I am upside down on.

If being smart makes me scum but saves me $300k by not buying at the top of the market I will happily take the title. I'm glad not to have the burden of so many of my peers at 31.

The rent I pay for the new house I live in -- one the developer still owns because he could not sell -- is less than all the neighbors pay for their mortgages.

You must have missed the memo..Renting is the new American Dream


Mr. Romance

Very true. Unless you've held a burn the note party because you've paid off the house.

yep.

I rent but I'm not a low life second hand citizen. Ok maybe after 12 beers I start talking shit.

I'll come back to this thread in 5 hours.

I rent in the city but own my place in the mountains. Don't plan on staying in the city and you get ass raped on taxes in Spain when you buy and sell property. So if you don't plan to be in the same place for 10 years, it's actually cheaper to rent.

Depends on where you're at in life I guess. I was able to retire early in May of 2000 at the age of 49, and since late 2000 early 2001 every tangible of value I own has wheels, :)

I winter in Arizona, summer in Indiana, lease on both ends. My landlord(s) now take the place of my plumber, my electrician, my painter, my carpet cleaner, my roofer, my HVAC guy, ad infinitum ...

I decided then I never wanted to repair another dripping faucet, worry about a roof that needed replaced, cut another blade of grass, haggle over insurance premiums, and on and on and on.

Ownership is great and makes perfect sense for many reasons for 2/3rds of your life. You know, while raising a family and building future financial stability. There comes a time though when ownership isn't any fun anymore. The 'prestige' of ownership devalues immensely. And yes, being a 'freeagent' is financially costly in many ways. So be it.

@Quence - Seeing "viewed as low lifes" makes me think you haven't been on planet Earth long enough to have a realistically formed opinion.

:2 cents:

To answer your question, yes.


And now seriously... I mean it depends on what country do you live... but it's probably like that in most places around the world.. people treat you by your wallet size. When you are rich they all love you... when you are poor they don't know you.

This is a very telling thread.

Yes, of course they are scum. Nobody rents here and everyone owns million dollar houses.

I know a few people who do this as well. My one buddy has 10 rental properties and lives in a tiny 1 bedroom with his bulldog.

I miss being a renter. Im stuck in a condo that the value dropped like a fucking rock. Im on the board its like having an extra job with no money and no one is grateful.
I like renting, I was a great tenant my landlords would do any thing I asked. And the handy man got gifts so whatever I needed it was done.
When I rented the ac unit blew it was replaced with brand new and it cost me a nice bottle of scotch. Two yrs ago a unit went for me kiss 3k good bye.
We went to LA love it, if I was a renter I would be living there now.
But I got the big fucking anchor so im stuck here.

There ya' go, renting ain't all bad tony286 (and counting), Sorry y'all got caught up in the 'upside down' turmoil. After 10+ yrs of renting I totally understand the 'handyman+scotch' approach to finer living. :upsidedow

even then, it's still rented.

try not paying property tax. the property you think you "own" will be taken from you.

One of my friends clears 20k after taxes through his company and still rents.
Lots of different reasons to rent.....

:2 cents::thumbsup
and mobile. If I want to move I can with very little hassle... other than the actual move

:) How some people dont understand the power of a little grease. I will never know. One place I lived, the handyman came fixed a light switch. The guy responded quickly, was neat,had a big smile on his face and I gave him 20 bucks. The next time I called about a sink leaking, it probably a small gasket. I left a 20 taped to the wall next to the sink. When I came home from work, they replaced the whole sink for me. lol

Lol why the hell would I want to own an overinflated piece of property? Especially in North America.

You guys who wanna be "mr caregiver" to your families go ahead and get a home. Have fun when the price plummets.

Bryan---you always seemed like you had your shit together.

Also depends on family situation. If your young and married and planning to have kids it better to pick a good school district area and buy.

I'm also in a situation where my son in college and my daughter is in 11th grade. I have 2 years left and plan to move so its stupid to buy. Evn if I bought where I want to move in 2 years it makes no sense cause i may pay less 2 years from now lol