Quote:
Originally Posted by multicartual
As a life long renter, I'd say I rent because:
1. Parents sold the house when they divorced, put a bad taste in my mouth for ownership
2. Enjoy moving every few years and having no responsibility / not tied down
3. Still don't know really where I want to live
Could have I made money on real estate? Sure but I have no idea how it would have changed or shaped me as a person. Having NOT owned property I've also been able to feel more like a rolling stone than someone tied to land or feeling like I need to be "a part" of Vancouver through paying property taxes and such.
A large part of not buying is definitely related to how my parents divorced, I've always assumed that if I had a long term girlfriend/wife she'd just try and take the house I paid for anyways.
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Another good example of being tied down.
Me and couple business partners needed credit for business. We tried a mass as much as possible because we need a ridiculous amount of cash flow.
I have 0 mortgage = 0 debt, the bank instantly gave me 100k limit on my credit card and thats from 1 bank.
1 guy who owns a house was only able to get a 10k limit on a card because his mortgage maxed out his lending limit.
next guy has no debt and lots of assets he was able to get 100k as well.
guess what? the guy who "owns" the mortgage doesnt really own a home.... hes in debt.... and has a lower chance of being successful in our business because his shitty cash flow now.