Renters will struggle for the next decade http://www.marketwatch.com/story/are-you-a-renter-it-wont-get-better-any-time-soon-2015-09-22
Luckily I bought when everyone was selling at fire sale prices. We'd need another 2008 panic to drive prices back to breakeven for me. But in the meantime I've been netting 8% ROI in rental income.
You'll likely appreciate this anecdote.... I'm a former Financial Planner, so giving advice to clients was routine. One asked me about selling his house in ~2008(?) for $750K, and later lamented he might have done the wrong thing. I told him he likely would make out OK. Well, a few years later he was offered to buy the house from the bank owner for $375K. It had been abused by the the interim owner and would incur significant fix-up costs, so he passed and bought something else. He did in fact, make out OK.
Same for the guy who sold my house. He'd bought in 2006 and lost ~$500K when he sold in 2011. RE isn't the "no brainer" some people seem to think.
Are you a renter? Yes Sir..., I am I rent the water I drink The air I breath The food I eat This life that has been given me Best I make good use of each while I'm here & able ================= Sorry Banjo - feeling a little philosophical today - it happens RN
I've never heard anyone say they're glad to be landlord, until now. You usually just hear horror stories. I can only imagine...that dealing with people and money and other issues...must be a pain in the as*.
I rent, and here in SoCal, the place where I live is still cheaper to rent then to own. I would like to buy a house but the prices here would make me"house poor" if I bought what I wanted and finding fixers are hard to come by lately. I like the financial aspect of owning a house, but the numbers just don't work for me at this time so I just keep saving for a down payment and keep my eye out.