Rental property billionaire says buying a home (with a mortgage) is "fancy bullshit" and you should rent instead
Rental property billionaire says buying a home (with a mortgage) is "fancy bullshit" and you should rent instead
[Mortgage Is 'Just A Fancy Bullsh*t Word For Paying Rent For 30 Years To The Bank,' Says Real Estate Billionaire Grant Cardone — Here's Why Renting Could Be A Better Financial Move
](https://finance.yahoo.com/news/mortgage-just-fancy-bullsh-t-171148202.html?guccounter=1)
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This is not the first time I’ve seen media stories within recent years pushing this idea that renting is better than buying.
This is the absolute stupidest most transparent lie the rich are trying to pull to fuck us. Sure we don’t see all the shady shit with lobbying and and all the details of inflation bullshit. Those are easier to keep mysterious and hide the exact details.
But this rent thing, that’s the dumbest most demonstrably false lie they have ever tried to spread. If anyone is believing that shit, god help them.
We bought our house seven years ago. If we were to sell it today we'd make almost as much in profit as what we paid for it.
Very similar situation here. It was a huge stretch to get it, and I was skeptical, but my partner pushed hard for it and everything got better after we got a house.
Nevermind that we put all of our consumer debt on the mortgage when we renewed, even our mortgage payments are by far lower than anything you can get in town.
It's crazy seeing materially, exactly how greedy landlords are when I friend of mine in a tiny two bedroom is paying almost double what I pay the bank for a whole ass house.
We bought our apartment 10 years ago, if we were to sell today we'd be lucky to get what we paid for it. That's because we've just had a repair bill come in for about the same amount.
Still prefer owning to renting though.
if we were to sell today we'd be lucky to get what we paid because we've just had a repair bill come in for about the same amount
That’s significantly better than what you’d have got out of renting, i.e. nothing.
So worst-case buying is far better than best-case renting.
Apparently equity is not worth mentioning.
To me, the big draw to renting is the flexibility. It's easier to move if you find a better deal elsewhere or you need to move for a job. It's especially attractive in many European countries where a lease is "unlimited" and doesn't run out unless you cancel and there's only a three-month cancellation period. Makes it very flexible.
A bit different in the states where the lease term is set, usually at one year and then you renew and have to pay to break the lease if you move out before the end of the lease. But still more flexible than buying.
A quick sale is much more involved and risky, imo.