patrick.net

RentingForHalfTheCost says

I don't get this conversation. We are talking about rents in the 2-3K range for houses that sell in the 600-1000K range. And we are saying rents are crazy? Rents are cheap! Very cheap if you are comparing the alternative of buying these dog houses as a place you want to own. If you are okay with paying through the nose for buying then why are you so upset with paying someone 1/2 their monthly cost of ownership to rent? I just don't get it. 1 does not equal 0.5.

Its for two reasons:

1.) People still stubbornly hold onto that phrase that "Renting is throwing money away".

2.) Most people who are buying at the moment STILL believe they are doing so as an investment, build equity, or otherwise make money on their home purchase. This is directly related to #1. After all, how can renting being throwing money away if the converse isn't true of buying.

People bitching about how high rents are in situations where buying would be even more expensive are simply ignorant and missing the big picture.

FWIW, requiring 20% down to obtain a mortgage would fix all of this.

dodgerfanjohn says

FWIW, requiring 20% down to obtain a mortgage would fix all of this.

I'd just say eliminate mortgage in this country! Let the sheeple spend money on everything else except housing and this country will take off into 22nd century!!