Drawing Conclusions: Is renting really a waste of money?

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24 thoughts on “Drawing Conclusions: Is renting really a waste of money?”

  1. I would have been better to stick my $300,000.00 in the bank instead of putting it into real estate in Canada! Because the damn laws of secret filing allowed for our home and properties to be stolen without our even having the right to be notified. Now homeless and life savings gone fighting in court 4 years and still no way to get justice… Only province that has protection in law for registered owners is Saskatchewan. I should have there. I closed down my fight, too sick to keep fighting our government all by my self. http://www.rights4realestate.com

  2. Renting is not bad at all.
    The difference I believe is that if an individual doesn't have good capital to start with, his best route is to rent. But if an individual has good capital, is the contrary, is better to buy. Specially if it can be bought in cash. "Buying" like you said its literally renting for over 25 years. That's half a lifetime if lucky. That's a lot of time if you ask me. But many people don't have a choice because they're not rich.
    This is similar to car leasing or buying. The only and maybe huge downside of renting, is that you'll do it for all of your lifetime and will never own. But owning is pretty much a lifetime rent at the same time literally.
    In other words, rich people spend very low money and regular people spend way more money. Rich people everything is cheap and for poor or regular people everything is expensive.
    Of course there are way too many things to take into account when it comes to buying or renting a home which both can be good or bad. But I believe that for people that aren't rich renting could be a better route. And if you're rich, just buy in cash, plain and simple.

  3. A mortgage is risky and dumb. Decades later you could loose everything. I bought land, slowly built the house properly, have water catchment, solar, and property taxes are only a couple hundred bucks a year! THis guy is helpless, institutionalized from being brainwashed in a college, and sure does seem to be nuts.

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  5. Or another scenario, Rodger Rents the home he lives in, and owns a home in the form of a rental property. So he uses his 35k as 20% down on a rental property that starts cash flowing him, after 30 years he has a paid off house paid for by the tenants, and cash flowed on a monthly basis for 30 years.

  6. I don't think I know a home/condo owner that hasn't paid a significant reno/repair cost on their home in 25 years. That would eat into the 100K difference a bit. If your time is money then homes eat up a lot more time cleaning, painting, shovelling, mowing e.t.c. Renting also provides flexibility if you have to switch jobs or want to take risks in a career.

    It comes down to values not money.

  7. All this math would all look great if more people were able to afford a "HOUSE" let alone if banks would allow for more people to get loans. At the same time this economy we are in people are not getting paid enough to afford to rent with the rise in rent prices.

  8. Another scenario for 25 years from now- While Owen and Roger are away at a family reunion, an Islamic terrorist let into Canada by Justin Trudeau in 2020 detonates a dirty bomb destroying their infidel neighbourhood. While Owen loses everything because his insurance company believes that “diversity is our strength” and refuses to compensate because it doesn’t recognize Islamic terrorism, Roger’s loses are minimal and he is able to emigrate to President Ivanka Trump’s America under a new policy granting asylum to refugees from failed previously- developed countries.

  9. I watched a video from this guy who lived in Korea mentionning that your employer will pay the rent when you find work there and I found that relationship between the two pretty interesting. Which situation do you guys think this could be applied best (or at all)? Leave a comment; this way we could generate ideas about the subject. many thanks!! ex: I live in Kaslo Canada, and pay 500$ for a room.

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