Monday, July 17, 2017

The world still works the way I think it does.

"According to a new survey from real estate site Trulia, the top regret among renters was deciding to rent rather than buy a home: 41 percent "wish they had bought instead." Unfortunately, more than half of all renters believe they couldn't afford to buy, and data shows that many of them could be right." Source.

I railed about the rent trap throughout the entire recession. It felt like I was screaming against the wind because there were millions of articles telling people what chumps they were to buy a house and not rent.

Renting provides you so much freedom they would insist. You don't have all those nasty repair bills they would cackle. But they never mentioned how every year your rent would go up. Rent increases over the recession were way worse than what happened with the mortgage resets. And what happens when there is a housing shortage like there is right now? Most people don't really understand how unstable renting is unless you've lived it.

I've always felt that after you've rented long enough, all you would ever want was to own a house. People will say a lot of things to justify their choices, so I'm pretty happy to see this brand of regret finally showing up.

No comments: