YARET: Should I buy or rent?

[neovan]

SoCal house prices are crazy as everyone who isn't living under a rock knows already. Do you think it would be wiser to still buy into the overpriced homes because prices will never come back down or just rent and save up enough so when the bubble burst, snatch up a property.

 

[DingDingDao]

Rent is a black hole you stick money into--you'll never get it back.

 

[woowoo]

In so-cal
Rent.....

 

[Budmantom]

move

 

[MrDudeMan]

Originally posted by: Budmantom
move

sounds like a good plan

 

[AdamSnow]

Originally posted by: DingDingDao
Rent is a black hole you stick money into--you'll never get it back.

 

[acemcmac]

move

 

[Ricochet]

Originally posted by: DingDingDao
Rent is a black hole you stick money into--you'll never get it back.

True, but most of us in SoCal don't even have a choice. Real estate prices are just too horrendous. Besides, rent is easier because you don't have to worry about maintainence. When we die we won't take anything with us anyway. So in essence we are living on borrowed time.

 

[DaveSimmons]

Rent if you have the self-discipline to invest the difference instead of blowing it on hookers and meth.


Obligatory: vanguard.com VFINX is nifty-keen!

 

[shopbruin]

Originally posted by: DingDingDao
Rent is a black hole you stick money into--you'll never get it back.

have you seen housing prices here?

i refuse to move out of this area, the only other place i'd go is norcal, which is just as expensive, unless some company somewhere pays me or the bf an exorbitant amount of money to go there.

 

[Suspicious-Teach8788]

Uhh I live in NorCal. It's a lot MORE expensive than SoCal.

Rent for a bit, but not too long. Gotta buy in the end.

 

[Pabster]

Rent.

Rent might be a black hole, but so is paying all those extra thousands in property taxes 😀