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[–] Spear1000 2 points 11 points (+13|-2) ago  (edited ago)

You can thank the government and government sponsored enterprises like Fannie Mae, Ginnie Mae, and Fredie Mac for the last housing crash from originating and guaranteeing absurd housing loans that were then packaged and stamped AAA because they were theoretically guaranteed and sold into the markets. Next up, sallie mae, the government student loan monster that created a bubble just like the housing bubble. This is why the government need to keep its big ass nose out of the private sector.

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[–] teatime 0 points 1 point (+1|-0) ago 

all or nothing!

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[–] Fefifo_fefifofe 0 points 8 points (+8|-0) ago 

In recent years, many don't leave home until they turn 40

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[–] whisky_cat 0 points 1 point (+1|-0) ago 

you know, I'm 3/4 of the way to 40 and I've held 20+ jobs over the years

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[–] Drenki 0 points 3 points (+3|-0) ago 

holy shit that's a lot of job switching.

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[–] NeedMoarGuitars 3 points 6 points (+9|-3) ago 

And virtually 100% of these renters have a new-model smart phone, big screen TV and cable, etc. Debt-ridden, toy-rich.

I'm not saying don't buy the toys but renting is a terrible long-term strategy. Save some and buy something solid.

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[–] Slyboots 0 points 5 points (+5|-0) ago 

I rent cause I move all over the place. I dont want to plant my roots because by year 4 Im sick of the place(city/state, not apartment or house) and want a new start somewhere else. Pointless for me to buy a house.

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[–] NeedMoarGuitars ago 

Renting is perfect for your situation. My concern is the huge number of people of all ages who have nothing set aside for retirement, either in a 401K/IRA or real estate. Lucky people live long enough to become old and retired, and they still need a place to live. Social security may feed them but that's about it. Unlucky people become sick or disabled and can't work, and they still need a place to live. They're all going to go on some sort of government assistance. And yet so many of these people are destitute but don't know it because they have a few shiny toys to distract them from reality.

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[–] TheTrigger 1 point 0 points (+1|-1) ago 

You get what you pay live for?

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[–] ninjai ago  (edited ago)

Poor example. My phone was bought new in 2014. 550$. My 50" TV was also bought new in 2014, 460$. I'm not going broke over 1,010$

I believe it's more to do with vehicles. There's always so many newer vehicles on the road and vehicles aren't cheap. Pretty well everyone takes a loan out on them. My vehicle is worth about 10k and I don't need a new one. It's paid off, it owes me nothing. Still the maintenance can get expensive but I'm not shelling out 67k for a new one of the same model.

[–] [deleted] ago  (edited ago)

[Deleted]

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[–] destinthegreat 2 points 0 points (+2|-2) ago 

source needed

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[–] AlphaWookie 13 points 6 points (+19|-13) ago 

That is such a bullshit stat. Elderly people in limited care homes count as renting and there are a lot of elderly people in the US. Then you have an entire class of niggers that heavly skews the stats because of section 8 and housing assistance. Then we have a huge population of transient illegal immigrants that rent because they are going to go home. Start breaking these stats down on race and you will learn a fuck ton more.

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[–] PardiGras 1 point 8 points (+9|-1) ago 

Welcome to voat, where the top comment spews racist nonsense and that's somehow a valid rebuttal to actual stats

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[–] RedLeader ago 

Ignore the racist language. Fuck the bigotry, but if there's any logic at least consider that much

[–] [deleted] 8 points 6 points (+14|-8) ago 

[Deleted]

[–] [deleted] 4 points 8 points (+12|-4) ago  (edited ago)

[Deleted]

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[–] whisky_cat ago 

I didn't even bother past "bullshit stat". Because you're correct.

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[–] 9-11 2 points 0 points (+2|-2) ago 

pppplease sire.... can me family have 4 poe-tay-toes this week?!?

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[–] physicscat 0 points 4 points (+4|-0) ago 

I'm over 40 and own my home. It's not always great. I have to pay for everything to be fixed. If I want to move...I have to find a buyer first. Upkeep....it's overrated.

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[–] sonic_bison 0 points 3 points (+3|-0) ago 

Yep. There's something to be said for renting. Its certainly not practical, but it's very comforting to know I don't have to replace my HVAC tomorrow if it stops working.

I owned a home for a few years and sold it to move across the country. It was a relief to know I didn't have to pay that mortgage for the next 25 years.

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[–] physicscat ago 

I do love mortgage interest deduction, though!

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[–] shoracer 1 point 3 points (+4|-1) ago 

Only land owners should be allowed to vote.

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[–] JoeKerr 0 points 4 points (+4|-0) ago 

don't be ridiculous, only land owners who have a business should be allowed to vote. They are creating wealth after all.

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[–] AKnightAlone 0 points 2 points (+2|-0) ago 

They're organizing and leading the creation of wealth. If they weren't doing it, someone else would've filled that void. It's the workers actually creating wealth.

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[–] schwanstucker 0 points 1 point (+1|-0) ago 

Well, yeah. MANY people lost their shirts in the downturn (engineered by (Bush's?) Obama's & Hillary's friends in the banks, thank you very much). They often haven't the time before retirement to re-make their monies. In addition, lots of those same people are completely broke, and have no hope of a normal life. All this courtesy of the bankers.

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[–] Drenki ago 

Hrm... well, I guess I'm doing pretty good. I am relatively young, have a normal mortgage at a low fixed rate, and I'm at the point where I can invest in rental properties.

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