I’m confused now, are you saying that the current trend is to move out of cities or to the cities?

Fair enough, my point was more that people that just assume that mortgage payment is X and is less than rent therefore I’m am being robbed aren’t looking at the whole picture, or aren’t being honest.

I think there can be some middle ground. Obviously speculation is pushing up both rent prices and the cost/availability of houses to buy. There are some interesting options, I like the idea to only allow residential property to be bought by physical persons - regardless of whether that’s for living in it or as an investment it would put a damper on prices sky-rocketing.

Corporations trust funds and so on can still go mad on commercial property. Offices, malls and warehouse are not a necessity and let the market decide, I think that could be a win win. Feasibility of this in various countries would obviously vary but I’m sure something can be done.

I’ve also seen suggestions aroud limiting the number of properties one can buy/own. Interesting but more complicated to enforce and IMO not needed.

There are a few hot topics on lemmy and this is one of them. I think you did a good thing, I found that interesting and that’s what I came to this thread for.

I dislike speculation on housing but appreciate there are many reasons why someone becomes a land lord, and I have been the person renting from someone like you when I could afford to buy. I just knew I wasn’t going to stay in that city, I was getting a good service and am happy for what I paid for. And for how carefree that period of my life was.

Tankies are not known for appreciating nuances tho.

No no no you don’t understand you are just stealing from them even if they don’t want to buy. Everyone must have a house, there should be no landlords nor renters. /s

Fellow home-owner, not a landlord. Not in the US but I think things are comparable.

Your mortgage repayments are less than what you were paying in rent, okay. However, do you feel that is a reasonable comparison?

Do you pay some sort of insurance? Property and or council taxes, rubbish removal, water and other things that you probably didn’t even know existed before becoming a home owner?

Do you know that your roof has and average life span of 30 years? Unless yours is new, you’ll need to start thinking about it at some point, and it can be pricey, together with all the rest of planned and unplanned maintenance that comes with owning a place.

Not really defending everything the person you are replying to said, but I think this topic too often gets simplified to monthly rent vs monthly mortgage repayments.

The electronic device you used for typing all that crap? Probably slave labour. That’s before looking at the power you wasted to do so, and it’s origin. Virtue signalling much?

This is lemmy. You are no better than musk or bezos for doing that you filthy capitalist.

You should do you open source work hungry, naked and in the cold while someone is whipping you. Like all the virtuous 14yo tankies that are downvoting you certainly do.

/s in case it’s needed

but charging $1300 rent on a property with a $1000/mo mortgage isn’t unreasonable.

No it’s just stupid. With those $300 dollars difference a landlord would need to cover insurance, property taxes, regular maintenance like replacing roof every 30 years, unplanned maintenance like a pipe bursts or aircon breaks. On top of that someone needs to act as the property manager/handyman so either the landlord takes that phone call on a Friday evening for the pipe that is gushing, or is paying someone to do that.

Tenant moves somewhere else and the place is empty for a couple of weeks, no income.

Oh and when you are done with all the above, depending on the country, those $300 count as income and get taxed (rightly so) so it’s not really $300.

BTW I don’t like landlords, I am not one. I rented most of my life until recently as a choice, been able to move to a new city or country at the drop of a hat. Haven’t had to do maintenance and I’m only learning that now. Of course I paid for someone else doing all those things, and taking all the risks for me.

But lemmy users seem to have a thing for over simplifying things and decide what is and isn’t excessive based on somethig that comes out of their ass. $300 dollars in this case.

Quite the opposite, western stock markets are highly regulated. What you saw was probably high frequency traders making a transaction that they were not allowed to make. Depending on markets and contracts they have very tight rules they need to adhere to, things like how many orders they can place in a day or in a second, how many they can cancel etc. If they mess up the transaction could be reversed and they’d regret doing so - mistake or not. Depending on the offence they could face fines or hours/days not allowed to trade (ie shitloads of money). These things DO get enforced.

If they just make a mistake, they have to suck it up, someone doesn’t get their bonus that quarter. There is no rollback button.

Lemmy is particularly bad when it comes to topic like landlords

Agreed. Emergency services stations are all within minutes from my place in the outskirts of a small town, so is the hospital. The community is awesome.

Isn’t that reason return to office policies though, and the majority of people would happily leave the city life behind if they were not forced to go back?

Appreciate you are answering a question and each one of us has their own preference but not sure you can say most people agree with yours.

This part made me think you were saying that was an investment, sorry I misunderstood

So my bank is giving me money each month for doing nothing really

Sorry links to this reddit.com site don’t seem to work here

Italy too, pretty much everyone that is know wears shoes indoors.

Australia, it’s a bit more normal to ask if shoes should come off when visiting someone, as that might be their thing.

Not just america

I do take my shoes off now, but did not growing up

How long is a piece of string?

Depends on how much you earn, what are your expenses, and how much you have saved already.

You are barely keeping up with inflation, don’t think that’s an investment. That said, you are doing the right thing, keep that money available if needed.

Everything on top of 6 months expenses, you should invest in something less liquid that on the long term yields decent returns.

You seem to be in a very unique situation. And to have a pretty good understanding of personal finance and of your risk appetite. What you say works for you and a few people that happen to have access to universal healthcare, what looks like four separate insurance policies, and that can manage not to fuck it up with credit cards.

6 months liquid emergency fund remains the best strategy for most people out there.

Would certainly suck if those six months worth of emergency fund had temporarily gone down to four months because of a downturn in the stock market though.

Accidentally there might also be some correlation with stock markets going down, and an emergency happening. Eg large company laying staff off.

That said you can do the math and see how much that money would return on average on etfs compared to a bank account, and decide if that’s worth the risk to you.

Experts say no, I agree with them but I see your point, and it’s definitely worth to challenge these suggestions.