Why rent? To get richer..

[Future renter]

From MSN Money this morning.

[meshugy]

[Ouch!]

[meshugy]

[Ouch!]

[meshugy]

The difference is equity...and in the case of Seattle over the last few years, lots of it!

Also, as an owner you get to choose when are were you move. As a renter you're at the mercy of your landlord. Big difference....I don't think you'll convince anyone that renting is more secure then owning. You may save money, but you'll most likely waste a lot of time and energy dealing with crotchety landlords, searching for new places, and breaking your back moving every 2-3 years.

I didn't mind when I was 25 and single. But 36, married, two kids....now way.

[george]

Meshugy: You're saying you don't buy a house right now to "make money" in Seattle? You're saying people buy mostly for psychological reasons? Then we all agree...what fun is that?

I'll take you one further though: looking at these MLS numbers seems like an excellent time to sell and start renting. It's happening all over the country. Chances are good you won't miss out on gains bigger than you can make in the stock market over the same period. You may even avoid losing 20 percent, and penny saved is a penny earned.

Also, tons of landlords out there looking for long-term stable tenants. Just ask for a long lease. Costs them money for a place to sit vacant. Make sure you shop carefully for the right landlord and not just the right house.

[Ouch!]

But Shug, you can't claim any of that equity unless you either sell the house take out a loan. Puts you in a quandary, doesn't it? If you decide to take out the home equity loan, you have to put money into fees, etc.

You may feel richer with your recent home equity and Zillow listing, but it will cost you either way to get your hands on it.

[wreckingbull]

I sure enjoyed the 5 years I rented on Mercer Island, on the water, with my own dock and beach. I could choose to go wakeboarding, or choose to crack a Tecate on the deck.

When I did own a SFH, I sure as hell did not choose to be up to my elbows in sewage when my cast iron sewer line resigned.

Cut the crap about renters living in some dank basement with a landlord beating them down every day. It's just not the case. My current one even sends me a $100 Trader Joes gift card every Christmas.

BTW, I have never had a landlord ask to me to leave. It was always on my own. What kind of places were you renting where you got kicked out every 1-3 years? Or perhaps I should ask what kind of tenant you were.

[sourmash]

[Lionel]

[LotharBot]

I rented in Lake City for three years when I was in grad school. When I graduated and my wife and I both started working in Tukwila, we moved. Not at the request / insistance of the landlord, but because living less than 10 minutes from work was far better than living an hour away.

I plan to buy a home eventually. Not in Seattle, and certainly not at the current prices of Seattle homes. When I do buy a home, it'll be because I want to be in a particular area for the rest of my life, not because I want to get rich. If shugy bought his house for the same reason, and did so without taking out a bad loan/mortgage, more power to him.

[Alan]

[Alan]

Still waiting for an answer from the Shug-meister.

Maybe you could clarify what "stellar investment" means while you are at it.

[Alan]

<sound of crickets chirping in the night \>