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USSDefiantJazz on scored.co
23 days ago0 points(+0/-0)1 child
>Granted you don't want to be a rent slave.
Renting made me a multi-millionaire. It shifted all the big costs and liabilities (interest, insurance, taxes, maintanence, etc) to the landlord, freeing up my capital to be invested in the stock market, and stocks have overwhelmingly beat the appreciation of housing.
Life can obviously change my mind but right now my thinking is I will rent for life. Here in Toronto I can rent a really nice condo right downtown (so no need for a car) for $2000/month, so that's $24k/year. At a 4% safe withdrawal rate, that's only $600k invested, and my housing is taken care of for life, no broken water heaters, no roofs replaced, no bullshit. And for those that think $600k is a lot, average housing prices in Toronto are over $1 million.
Now the math can always change and if it ever does to favour owning, I will, but right now, that nigger is right, I don't want to own this shit and certainly not for $1 million. That million is worth more to me in the market than in some particle board and plastic siding.
Yes, there is rent control in Toronto where I live. Any place built before October 2018 is subject to rent control. In fact in 2015 I was renting a place for $1200/month that was under rent control, it's in a very well known building downtown and I see ads for my exact same until for $2200/month now.
When I gave it up in 2020 (found something I liked in the suburbs for a good deal), I was paying only $1300 because of rent control.
Also keep in mind the 4% safe withdrawal rate also accounts for inflation so you're covered even if the rent goes up.
Redditors are indeed faggots who are innumate and can't do math. To me a house is a place to sleep and keep some stuff, I do not COMSOOM a "home" and fill it with bullshit like funkopops or "Live, Love, Laugh", which is emotional pablum.
Renting made me a multi-millionaire. It shifted all the big costs and liabilities (interest, insurance, taxes, maintanence, etc) to the landlord, freeing up my capital to be invested in the stock market, and stocks have overwhelmingly beat the appreciation of housing.
Life can obviously change my mind but right now my thinking is I will rent for life. Here in Toronto I can rent a really nice condo right downtown (so no need for a car) for $2000/month, so that's $24k/year. At a 4% safe withdrawal rate, that's only $600k invested, and my housing is taken care of for life, no broken water heaters, no roofs replaced, no bullshit. And for those that think $600k is a lot, average housing prices in Toronto are over $1 million.
Now the math can always change and if it ever does to favour owning, I will, but right now, that nigger is right, I don't want to own this shit and certainly not for $1 million. That million is worth more to me in the market than in some particle board and plastic siding.
When I gave it up in 2020 (found something I liked in the suburbs for a good deal), I was paying only $1300 because of rent control.
Also keep in mind the 4% safe withdrawal rate also accounts for inflation so you're covered even if the rent goes up.
Redditors are indeed faggots who are innumate and can't do math. To me a house is a place to sleep and keep some stuff, I do not COMSOOM a "home" and fill it with bullshit like funkopops or "Live, Love, Laugh", which is emotional pablum.