• milicent_bystandr@lemm.ee
    71·
    2 years ago

    Yes and no. Ownership is valuable. But the flexibility to live and move with less responsibility is also valuable.

    • Cosmic Cleric@lemmy.world
      61·
      2 years ago

      Yes and no. Ownership is valuable. But the flexibility to live and move with less responsibility is also valuable.

      It’s not a matter of responsibility, you’re responsible for making a payment each month, either way, so that cancels out.

      Your paying the same kinds of money out of pocket each month in either case. You might as well own what your emptying your wallet for when you’re done, than not. Wealth begets wealth, it snowballs.

      • AirlineF0od@lemm.ee
        2·
        2 years ago

        In understand your point. It costs money to buy, sell, and broker house/mortgage. People have to live in their houses (in a normal economy) for like 3-5 years before even making a break even point on home. Just bought my first house and we’re drowning in interest at the moment. Rents will fall faster when interes rates change than we will be able to refi. BUT it’ll be better for us in the long run.

      • prole@sh.itjust.worksEnglish
        01·
        2 years ago

        You’re going to spend (usually a bit) more per month on mortgage payments than rent, so it’s not really “the same kinds of money”.

        • Guntrigger@feddit.ch
          1·
          2 years ago

          Is this true in the US? Its definitely not been true anywhere I’ve lived in Europe. A mortgage has always been cheaper for a larger property, it’s just gathering the initial deposit to buy that’s the hard bit.