The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: SpongeBrain who wrote (348)	8/28/2001 10:34:55 AM
From: Oblomov	Read Replies (4) of 306849

>>But renting is a GUARANTEED 100% loss. Not true... that's RE agent hype, IMO. I have been renting, when I easily could have bought a house. I simply did not want to commit to the responsibility of ownership, and I wanted the flexibility to move to a new city at a moment's notice. The lost opportunity of potential equity gain was a small price to pay for this flexibility. Second, to live in the same or an equivalent neighborhood, my mortgage payment would be at least double my current rent payment. Even after the mortgage interest deduction, I would have less cash flow. My equity would need to increase substantially each year for it to be economic. I prefer liquid assets. I prefer holding assets that are not valued primarily by emotional considerations (although, we being human, all valuations admittedly do have their emotional component). I do not get the warm fuzzy feeling that some people get from "owning" the [bank's] house in which they live. I value freedom over security. I am single, with no children, and have no need for a 3000 ft^2 house, anyway. Owning a house is not of equal financial merit for everyone.

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