Rent pays for all those things generally. Landlords just have the benefit of having money in the bank (typically due to assistance from their parents). The entire purpose of renting use to make a profit, if rent doesn’t cover maintenance and taxes then rent will increase until it surpasses maintenance and taxes.
the problem is people need to live with roommates and family until they can afford their own place.’
everyone i know who whines about rent lives alone, i don’t hear people whining about rent so much when they split a place with another person.
the rent cost between a 2bed and a 1bed in my city is like $300. as in a 1bed costs 3000 and a 2 bed is 3300. so if you get a roommate your rental costs go from 3000 to 1650.
they can’t afford a mortgage if they can’t get one. they probably have massive debt or shitty credit.
just because people don’t know how money or credit works, doens’t mean it’s unfair or a cruel conspiracy… it just means they are ignorant or bad with money.
I was approved for a $4000/mo mortgage. My actual mortgage is $2600. My rent at the time was $2000. I have an 800 credit score. that was only 5 years ago. I meet people all the time who make way more than I do that can’t get a mortgage… because their credit score is like 500-600 and they have massive personal in debt from crappy life choices, like taking out loans to go on vacation, or maxing out student loans way beyond what they actually needed for school because they wanted to party.
anytime the butthurt about rent/mortgage comes up, I ask for the details and people usually show you why their complaints are bullshit. it’s because they can’t manage debt, cant budget, and don’t pay back their loans. for all we know OP has a $800/mo car payment on a $50K car and that is what is sinking their credit score.
it’s not magic, or being rich, it’s just understanding basic mathematics. and sadly, a lot of people can’t or won’t do it. i had several friends and girlfriends i stopped associated with because they were such idiots about money and constantly asking for ‘loans’ to help with debt, then they’d take the $200 you gave them and go buy booze or clothing or expensive dinners, and if you called them out on their behavior they just told you to ‘f you you’re a rich asshole’. no, i’m not rich, i’m just not a self-indulgent moron who steals money from other people to buy petty irresponsible shit rather than be a responsible functional human being who understands debt payments come before fun money.
it’s not magic, or being rich, it’s just understanding basic mathematics.
Right, the basic math that landlords make a profit off of rent, therefore rent is GREATER than the cost of the mortgage + standard expenses and upkeep.
It’s really not complicated and I don’t know why some people will spend paragraphs trying to pretend it is in order to excuse rent seeking behavior.
the devil is in the details nobody talks about.
owning a home can bankrupt you, given all the legal, tax, and liabilities issues involved.
renting doesn’t come with those issues, generally.
Rent pays for all those things generally. Landlords just have the benefit of having money in the bank (typically due to assistance from their parents). The entire purpose of renting use to make a profit, if rent doesn’t cover maintenance and taxes then rent will increase until it surpasses maintenance and taxes.
hmm i know a lot of renters whose parents pay their rent. weird.
lots of people also rent below profit or cost. my sister rented to my mother below cost for 5 years.
Ah, so if all renters can have family members be their landlords then the problem is solved!
the problem is people need to live with roommates and family until they can afford their own place.’
everyone i know who whines about rent lives alone, i don’t hear people whining about rent so much when they split a place with another person.
the rent cost between a 2bed and a 1bed in my city is like $300. as in a 1bed costs 3000 and a 2 bed is 3300. so if you get a roommate your rental costs go from 3000 to 1650.
See OP. They can afford their own place. They are paying more in rent than the would on a mortgage.
they can’t afford a mortgage if they can’t get one. they probably have massive debt or shitty credit.
just because people don’t know how money or credit works, doens’t mean it’s unfair or a cruel conspiracy… it just means they are ignorant or bad with money.
I was approved for a $4000/mo mortgage. My actual mortgage is $2600. My rent at the time was $2000. I have an 800 credit score. that was only 5 years ago. I meet people all the time who make way more than I do that can’t get a mortgage… because their credit score is like 500-600 and they have massive personal in debt from crappy life choices, like taking out loans to go on vacation, or maxing out student loans way beyond what they actually needed for school because they wanted to party.
anytime the butthurt about rent/mortgage comes up, I ask for the details and people usually show you why their complaints are bullshit. it’s because they can’t manage debt, cant budget, and don’t pay back their loans. for all we know OP has a $800/mo car payment on a $50K car and that is what is sinking their credit score.
it’s not magic, or being rich, it’s just understanding basic mathematics. and sadly, a lot of people can’t or won’t do it. i had several friends and girlfriends i stopped associated with because they were such idiots about money and constantly asking for ‘loans’ to help with debt, then they’d take the $200 you gave them and go buy booze or clothing or expensive dinners, and if you called them out on their behavior they just told you to ‘f you you’re a rich asshole’. no, i’m not rich, i’m just not a self-indulgent moron who steals money from other people to buy petty irresponsible shit rather than be a responsible functional human being who understands debt payments come before fun money.
Right, the basic math that landlords make a profit off of rent, therefore rent is GREATER than the cost of the mortgage + standard expenses and upkeep.
It’s really not complicated and I don’t know why some people will spend paragraphs trying to pretend it is in order to excuse rent seeking behavior.