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






Start a Conversation - Add Comments

Your Comment: ( Please enter all fields and security code. )

Name:
Email:
Website:
Topic:
Comments:
 
Word Verification:
 

Latest Comments

Buffett Joins Call for `Strong` Estate Tax - RalphPetrillo | Dec 11, 2012 03:41 PM ET Before the estate tax is changed, all existing foundations that received funds but did not receive an estate tax should be taxed at 45%. So all the money Buff... - by Larry_C452

US Mortgage Applications Rise in Latest Week; Rates Fall - TxChristopher | Dec 12, 2012 09:14 AM ET We had absolutely no problem recently getting financed to build a new house, contrary to what most seem to constantly say. If you have good credit and all you... - by 3b2bmo

housing recovery cheerleaders are being overly optimistic - StormT | Dec 19, 2012 10:31 AM ET It`s true in Tampa..........they are building like crazy.........APARTMENTS!

mtnr | Dec 19, 2012 10:47 AM ET Sandy again .Mortgage apps were down 13%... - by recSDC

Toll Brothers Misses Estimates; Plans to Enter Rental Market - TheRealist82 | Feb 20, 2013 07:27 AM ET Yes, Leopold, and now that we`re up 50%, this obviously justifies a P/E ratio of 300... Makes sense... lol.

Mr.Clumpus | Feb 20, 2013 09:06 AM E... - by Mick577

bigger down payment - johnnyvic | Jan 22, 2013 11:11 AM ET My last post was cut off... Yes, short term price increases can make people in the business a lot of money, or trick home occupiers into spending well beyond thei... - by hackman



Renting your house is definitely a smart move over time

Real Estate Agent Directory

Are you looking for a real estate agent in your area? At housing news blog, you can search for your local realtor and real estate service by using our agent search features.

Real Estate Agent Directory

Get listed!

Are you a real estate agent? Get listed for free with us! Complete a real estate agent profile form and get listed in a few days. Click on the link below to get started!

Free agent profile!