Comments by "donaldlyons17" (@donaldlyons17) on "Two Cents" channel.

Yeah I know someone paying 50K in just rent per year living there.
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Well the bank is saying rent just means they can extract money in smaller chunks without the huge down payment requirement. Also it all depends on the prices at different locations and sometimes special programs.
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@alankoslowski9473 I agree a place to live is what people get in exchange but I don't agree with owning a house not being far more efficient. Truth is owing is more efficient because once owned the prices can't rise.
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@alankoslowski9473 Yeah and in your case that is right!! But for me the situation on paper is more complicated. For example my estimated mortgage was $800 for a 164K place while renting would be $800 just for a studio apartment, or 1 bedroom!!!! SO the difference would be upkeep, taxes, and fees.... But the catch is beside buying a home how will I ever get access to housing at cheaper prices in the future? After the recession years ago the same place to rent I was living in went from $400 to $640 with no renovations or any other work done. And now it sells a redone spot for at least $730 last time I checked. Personally I think buying the spot cheaper if possible years ago would have worked out better if the option existed because I don't think all the fees and upkeep take more than $330 a month more. But in your case it seems like your right b/c your numbers are almost 1/2 your owning cost without additional stuff added.
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Without renters how can it be an investment for their kids? You mean they guy stuff to exploit other people situation right?
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Problem is rent never gets cheaper when averaged out over time.....
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Well how many people have 100K in cash to buy stuff vs. how many people don't?
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Well yeah but assuming one can just pass those cost on. Or at least the majority of them. Renters have to have a place to live but a landlord is already rich enough to afford to be able to buy access.
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Well some people will buy everything they see. But for others there are other problems.......
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Well but the rich exploit other people to make those transactions happen while those who are not rich are forced to work for them.
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@JanPytela Yep the place I used to live cost almost double just 15 years later. Truth is being rich makes owning more simple.
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@anonelle28 Intresting might be on to something....
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@wolfworks7339 Well a no fee cheap house with an expensive car might be an even better equalizer.
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Landlords take risk but landlords seem to consistently have the advantage because they can just raise prices as it gets more expensive. The renter can't raise prices and has to seek higher earnings if they don't get raises!!!! Totally better to have a way to pass price increases off to other people. Rent tends to double every 30 years yet mortgages bough 30 years ago won't.
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Yeah being a renter for life sounds way more expensive than owning a home all else being equal because the renter has to be paying the full price otherwise landlords can't make a profit ever!!!!
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@alankoslowski9473 No your complete right but the problem is even with all that I will show you some numbers. Ok my parents house for example. They have a new roof (14K) new water heater (2K I think max) and a new air conditioning and heat pump (10K I think.) Problem is that only comes to 26K! Then removing multiple trees and stump griding lets say 8K to be safe. So lets say 34K total but maybe 2K for repainting!!! SO new 36K. Issue is they own the place so they don't pay 2K per month in rent. They do have those HOA fees 2,400 a year and property taxes so 18K. My point is by year #2 in housing cost they can get away with just about 20K total!!!! Thing is to rent would be about 24K!!!!!!! Only because the rent amount would stay 2K the entire time! Now I know these numbers are very different depending on location but if my math is right they save 4K per year just by owing in good years. Your statement about getting returns in better liquid stuff is correct but the problem with housing is they one has to have a place to live so how can a renter save money if they always have to pay rent at ever higher pricing?
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