Recession Generation Opts to Rent Not Buy Houses to Cars, Is It The Smart Thing to Do These Days?

by American☆Atheist Posted 2012/08/10 06:22:48

Related Topics: Car, Finance, Cars, Smart, Recession, News, Yahoo, Houses, Generation, Rent, House

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10 votes
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	yes	6 votes	60%
	no	4 votes	40%

http://finance.yahoo.com/news/recession-generation-opts-rent-...

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gocar 2012/08/10 17:13:25

no

Not really, I would say this is the time to buy since houses will never be so affordable than they are now.

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Professor Wizard 2012/08/10 15:41:31

no

While owning a home is no longer considered an investment.. it does provision you to get some money back when or if you move - as long as you were smart about arranging the loan.

As far as cars.... it is better to rent those... let the underwriter take the depreciation hit, and only pay for what you actually use.

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Odinsown 2012/08/10 13:13:26

yes

We don't have enough excess capitol to buy houses because the previous generation decided to bail out the financial and auto industries. It makes more sense for us to rent and let someone else run the risk of inflating or deflating property value.

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classic 2012/08/10 13:12:45

yes

I dumped the house I bought and started to rent,,, The house I bought had all the goodies,,, swimming pool, 2 car garage,,, In Florida,,, in ten years the mortgage Doubles, due to the insurance companies, and then the addition of Flood Insurance.. now we have sink hole insurance on top of that... Renting a home, you are not responsible for the taxes,, upkeep (on fair wear and tear) appliances or insurance... Cheaper to rent...Just make sure you get a long term lease agreement, or they can toss you out when your lease is up..Plus they cant keep raising the rent.....

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Anonymouse BN-0 ~bibbityboo~ 2012/08/10 11:29:09 (edited)

no

+1
It's better to own your ownproperty. Of course, for first time buyers, rent and buy and part buy schemes are best - you rent, but buy shares in the property when you can afford them and eventually you buy up the whole house on your own terms. It's a great idea.

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Transquesta 2012/08/10 06:30:15

yes

Tough call. To rent anything is to piss your money away, but these days it really does make more sense to rent, say, cars, than to buy them. Houses are another matter entirely.

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