Renting your house is definitely a smart move over time

Mr.Clumpus | Feb 5, 2013 12:41 PM ET Renting your house is definitely a smart move over time. All of the world`s wealthiest people rent because it`s such a good deal! Also, when you rent you don`t pay any property taxes because the Landlord never factors that into the rent. Plus, you get to live with a bunch of strangers in a small, cramped space. It`s the best!

Mr.Clumpus | Feb 5, 2013 12:41 PM ET Bulletman357 | Feb 5, 2013 12:35 PM ET Good posts. Yes indeed!!! There are some real geniuses posting here today!!!!

paul46 | Feb 5, 2013 12:42 PM ET Bubble this, bubble that! The only bubble I see is the expert opinion bubble.

Mr.Clumpus | Feb 5, 2013 12:46 PM ET Also, when you rent you don`t pay any property taxes because the Landlord never factors that into the rent. Forgot to mention another benefit of renting, because the Landlord does not factor property tax into the rent you don`t have to mess up your tax return with a property tax deduction--one less thing to worry about!!!!

hopeNchange | Feb 5, 2013 12:46 PM ET @NewDay12 Good commentary, and great observation. I`m from the next older generation, and see a different mindset today than when I was your age. Homes had always increased in value, so they were considered good investments, even if you had to stretch financially. Not true today, the rules have changed. Prices are still too high relative to income. Property taxes continue to rise faster than inflation. The risk of another bubble alone is enough reason not to buy. Unless there`s an underlying reason to need a home, buy at your own financial risk.

expat08 | Feb 5, 2013 12:47 PM ET I want to know which schools are handing out MBA`s that don`t believe in the sanctity of contracts?

expat08 | Feb 5, 2013 12:51 PM ET I am with Mr Clumpus here. You might lose money on a house? What is your rate of return on your rent payment?

BrianBallsOfSteel | Feb 5, 2013 01:02 PM ET expat08 | Feb 5, 2013 12:51 PM ET I am with Mr Clumpus here. You might lose money on a house? What is your rate of return on your rent payment? -------- rate of return on a rental is ZERO...HOWEVER, the risk-adjusted return is 4 times as much...LOL!

jonnyboiler | Feb 5, 2013 01:03 PM ET I live in Chicago, and I can`t imagine buying a home here. Home prices are way too expensive. You have to make $200k+ a year to afford a decent home in a decent neighborhood. I realize a single family home in a urban area is quite a luxury, but given the high cost of condo association fees, I don`t see that as a viable alternative. Secondly, the property taxes here are pretty ridiculous, as they are elsewhere. If you spend $350k on a condo here, you are probably going to be paying between $450 - $700 a month in association fees and taxes. In many places in the country you can rent a decent apartment for that much. My wife is european, and according to her family property taxes are very low there. It seems more likely I would buy a house abroad before I bu






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Renting your house is definitely a smart move over time

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