I live in a city that is 64% renters (Montreal, Quebec). It’s a great place to live and I would not call it a “slum”.
The idea that rentals aren’t real homes is a shitty thing to say. It’s snobbery dressed up in progressive language about landlords and “exploitation”.
The idea that rentals aren’t real homes is a shitty thing to say. It’s snobbery dressed up in progressive language about landlords and “exploitation”.
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I have a neighbor that has been here as long as I have owned my house and they rent...
If you invest the difference between owning and renting, the renter might end up with more wealth than the owner. You really need to calculate for each indivivual/couple.
1. Maybe you can’t afford a downpayment.
2. Maybe interest rates are too high.
3. Maybe you’d rather invest your money in stocks or a small business.
4. Maybe you want the option to upsize or downsize or move closer to work in a few years.
6. Maybe you like the freedom to plan that trip to Japan without having to worry about an unexpected house expense blowing a hole in your travel budget.
Partly this is having many universities (students are people too!). Partly this is French-speaking Quebec being less taken by Anglo-American homeowner culture and the idea that renting is bad and means you’re a failure or whatever.
I am however worried about where we're heading in the future on this.