Why I rent after owning and thankfully....

[Zeus]

No wonder they are called "DUmmies"

Now I admit to being biased as I have been a REaltor for 11.5 years....but if one rents....they might as well pile up their money and set fire to it....as all there is left is ashes.....no equity, no tax write-off, no return of investment.

Many people are only able to itemize on their taxes because of their mortgage interest and real estate taxes, which can greatly reduce the net one pays to the IRS.
Our house has doubled in value since we bought it 4 yrs ago. We got an incredible deal, and this type of property (acreage in a private subdivision) is rare for the location.

Many people who rent, do not realize they may qualify to safely buy a house. But to advocate renting in order to "save money" is pretty far-fetched.

Wonder what he's smokin'?

Surprisingly enough the number of homeowners that actually do Itemize tax returns & thereby take advantage of the Mortgage interest & Real estate tax deductions is reletively small in number of homeowner tax filers. One of the Draw backs of increased standard deductions combined with lower interest rates.

[Chris_]

Uggh, I hear that. I rent, and am responsible for mowing. Takes me a good 6 hours total to mow, do the trim, weed eat, and weed my flowerbeds. Sucks that it usually takes up a whole weekend day, but I love how it looks when I'm done. Guess that moron doesn't care about that silly thing called "pride in your work."   :whatever:

Dayum, how big is your yard?  :o

Seen BEG's?

[Chris_]

Hey DUmmy....I own several homes I rent out to people like you.  I make a minimum of $400 a month PROFIT and YOU are paying the mortgage on the homes FOR ME.

Yes, but that twice a year plumbing call and once every 5 years appliance replacement must be breaking you.  I mean, when you factor it using DUmmy MAth^TM.

Since I haven't been able to find a spor for observations on the OP:

He already owned and has cashed out his equity -- he is skating between homes (see next comment).

he ADMITS he will inherit so he doesn't need to plan on his long-term home needs.  I wonder how he would feel if they were to drop the Death Tax to the point where he has to pay his Fair Share?

The OP is in a relatively good position by selecting the proper parents.  His post is meaningless to most people.

[Chris_]

I guess equity and the idea of a fixed rate mortgage is lost on these morons.

Exactly what I was going to say, but you were faster.  One of the easiest and safest ways to "build wealth" is to buy a reasonably priced home on a 15 year fix-rate mortgage and let your rent payments build equity. 

I dunno, I kinda like the idea of buying a home, renting it out, and letting someone else's rent payments build my equity.