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Rent vs. buy: Which makes more sense in this housing market?

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It is a question many of us face: rent or buy? And it's even more confusing when the cost to rent and to own are both expected to keep going up. Now, as the busy spring buying season ramps up, should you buy, or rent? Nancy Chen reports.


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People if you do buy a house, please be prepared emergency expenses. This is what get some people in trouble with you own a house. I am a single man with no children, so I am not in a huge rush to buy a house right now. But if I see a good opportunity, I’m going to jump.
 
easy_b said:
People if you do buy a house, please be prepared emergency expenses. This is what get some people in trouble with you own a house. I am a single man with no children, so I am not in a huge rush to buy a house right now. But if I see a good opportunity, I’m going to jump.
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Agreed - emerg’ funds are key.

And for those looking to buy or who are hesitant ... feel free to attend open houses. Check out what’s available in your area and neighboring districts. Have your pros and cons that you’re aware of. Keep a close eye at potential places that score 7 or 8/10 or higher for you. You’ll quickly see what you want & or do not.
 
easy_b said:
People if you do buy a house, please be prepared emergency expenses. This is what get some people in trouble with you own a house. I am a single man with no children, so I am not in a huge rush to buy a house right now. But if I see a good opportunity, I’m going to jump.
Click to expand...
I 100% agree with this. Just bought a crib and no complaints.

I say buy when you want but making sure your finances are in order.
By 2030, 45% of all homes will be owned by corporations so do with that information as you please.
High interest rates are not stopping people with good credit, cash, and a stable income.
 
DC_Dude said:
I 100% agree with this. Just bought a crib and no complaints.

I say buy when you want but making sure your finances are in order.
By 2030, 45% of all homes will be owned by corporations so do with that information as you please.
High interest rates are not stopping people with good credit, cash, and a stable income.
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I think we are going to have a crash before 2030 because of the corporations owning houses. The interest rate is going to kick their asses.
 
Helico-pterFunk said:
Agreed - emerg’ funds are key.

And for those looking to buy or who are hesitant ... feel free to attend open houses. Check out what’s available in your area and neighboring districts. Have your pros and cons that you’re aware of. Keep a close eye at potential places that score 7 or 8/10 or higher for you. You’ll quickly see what you want & or do not.
Click to expand...

This is good advice. Additionally I’d suggest following the areas you are interested in on Zillow. Toggle the For Sale and Recently Sold Filters. Do this every day (should take 5 min). You will start seeing homes on the market longer with lower sale prices. Don’t even think about buying until you start seeing multiple homes on the market for over 90 days.
 
^SpiderMan^ said:
This is good advice. Additionally I’d suggest following the areas you are interested in on Zillow. Toggle the For Sale and Recently Sold Filters. Do this every day (should take 5 min). You will start seeing homes on the market longer with lower sale prices. Don’t even think about buying until you start seeing multiple homes on the market for over 90 days.
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Thanks - good advice too re: toggle / filter. The realtor I dealt with in 2009 asked me specifics on wants and avoidances. He was curating stuff he was sending over and we were (separately) going to our own open houses every Sunday for about 6 months. Looked at several districts. Looked at stuff brand new to 35 years old. Chose a 2yo property in the end.
 
easy_b said:
I think we are going to have a crash before 2030 because of the corporations owning houses. The interest rate is going to kick their asses.
Click to expand...
My dude.... they're corporations.... they care about interest rates, but it ain't gonna fuck with them.... and they're buying with cash mostly.... and the rates they get for borrowing any cash they don't have available.... are lower than what us common folk pay because.... they're corporations

.
 
I would rent if I was single with no kids. The minute you have kids, than they tie you down anyways to a school district so you might as well get a house. I don't think it is purely a financial calculation decision.

What gets me is DINK going into the housing market driving prices up when all they need is an apartment or they can get a townhome. The minute the landlord raises rent, they can pack up and leave quite easily.

A person with kids has no business in the rental market, a landlord raising rent on them is stuck due to their kids being in school.
 
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easy_b said:
People if you do buy a house, please be prepared emergency expenses. This is what get some people in trouble with you own a house. I am a single man with no children, so I am not in a huge rush to buy a house right now. But if I see a good opportunity, I’m going to jump.
Click to expand...
Home inspection is a must and not one hired by the realtor. Seen to many horror stories from friends and family. Weather always brings hidden issues to light.
^SpiderMan^ said:
Right now? Rent. Inventory is forecasted to increase and demand is reducing due to rising interest rates. Housing is cyclical, buy when prices are low in the cycle.
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Rent if you are trying to ball on a budget, buy only if you can truly afford it in the long term. The low cycle is a predatory lenders playground don't jump at things too good to be true.

easy_b said:
I think we are going to have a crash before 2030 because of the corporations owning houses. The interest rate is going to kick their asses.
Click to expand...
A housing crash is always a possibility we have had two already and still haven't learned don't let that false sense of security of To Big To Fail you. As long as there is greed there will always some wall street analysts willing to push it to the edge with no care about who it hurts.
 
Mr.Chuckles said:
Here in florida you better off renting if you can, home insurance companies are going belly up and the premiums are through the roof and inflation has killed the market.
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Renters get a rude surprise at the end of their lease in Florida...... no rent control there, rent can be raised to whatever the landlord wants. I've heard some of the Florida horror stories rent being raised $500 to more than $1000/month in some cases..... In Jersey I'm capped at 3% for any raise that I want to make
:itsawrap:

..
 
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easy_b said:
Wait before going to details what make you think we are not going to see another 2008??
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I highly recommend you watch this movie about 2008. They was giving mortgages to any and everyone.
That’s not happening again. If your credit not good or atleast at like 650 they will laugh in your face. Prior to 2008 Biggs’s with no jobs was getting mortgages.

I’ve bought 2 homes between 2012 - 2024 and the shit you have to go through. Lucky for me my credit has always been good and even the loan folks were surprised at how high my shit was (even though I haven’t done anything special except for use auto pay for everything).

 
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DC_Dude said:
I highly recommend you watch this movie about 2008. They was giving mortgages to any and everyone.
That’s not happening again. If your credit not good or atleast at like 650 they will laugh in your face. Prior to 2008 Biggs’s with no jobs was getting mortgages.

I’ve bought 2 homes between 2012 - 2024 and the shit you have to go through. Lucky for me my credit has always been good and even the loan folks were surprised at how high my shit was (even though I haven’t done anything special except for use auto pay for everything).
Click to expand...

Your bills being paid on time all the time does it, and not having a shit load of open credit too...... bank rep told me that she had never seen an 810 credit rating before..... the shills that must've been coming to see her... :smh:



.
 
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Drayonis said:
They are renting the homes for profit keeping the market artificially high. How will the interest rate affect them?
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They can’t go too high in certain areas because they are not going to have people to rent those houses. So they have to pay that loan back on the house with no one staying there that’s going to eat them alive.
 
easy_b said:
People if you do buy a house, please be prepared emergency expenses. This is what get some people in trouble with you own a house. I am a single man with no children, so I am not in a huge rush to buy a house right now. But if I see a good opportunity, I’m going to jump.
Click to expand...
I had zero clues on trying to buy a house. Shit I thought you just get a loan. And look for a house. As I quickly found out, that is not the case. So my ass is in saving mode now:lol:
 
BrownTurd said:
Houses are rarely investments
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Please stop talking about shit you don’t know about. Houses always go up. Always and will continue to it’s why you could buy a home in the 80’s for 40,000 and that same house today is nearly 400k in most places. Houses in NYC or the Bay Area have gone up by 1000% in 30 years in some cases. If you have rented that whole time , the only thing going up is your rent. So please shut the fuck up!!!
 
Dr. Truth said:
Please stop talking about shit you don’t know about. Houses always go up. Always and will continue to it’s why you could buy a home in the 80’s for 40,000 and that same house today is nearly 400k in most places. Houses in NYC or the Bay Area have gone up by 1000% in 30 years in some cases. If you have rented that whole time , the only thing going up is your rent. So please shut the fuck up!!!
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As long as you are paying a mortgage most houses are not investments. When you add all the repairs and interest over a 30 year period, you have paid more than you got back.

Houses are more like saving accounts than investments
 

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