Eli5: Why are housing prices so high now? Is it better to buy or rent a place to live?
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over the past couple decades the price to live in any particular place has been rapidly rising and in 2008 a lot of corporations bought houses to rent out or sit on because they constantly appreciate (land is a finite resource so it’ll almost never depreciate)
many people who had the money for a down payment got out-bid by corporations and are then forced to rent
most people rent because they couldn’t afford a down payment but if you can afford it, owning is way better. when you rent you’re paying the mortgage, utilities, and repairs all with the money profited from your monthly rent. and a house is one of the best assets because you can sell and usually for more than you bought it for
oh and landlords are parasites that provide fuck all to society and should be abolished
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