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Mr.C · 01-25-2016, 02:51 PM

Just to clarify my point, I'm not a 'rent always, buying sucks' kind of person. However, the rent ratio in the Lower Mainland is SHIT.

Here's an easy way to visualize it:

http://www.nytimes.com/interactive/2...ator.html?_r=0

A house like the one I live in is worth roughly 1.5 mil. Even with an extremely optimistic outlook that homes will continue to rise in price 7% a year, it's still cheaper to rent if the rent is under 3k or so. If it's in a 3 mil house, my rent can be under 6k. I can rent a 3 mil house for 4k in Vancouver. Or a 6 mil house for 6k. Right now, I'd be putting an extra 10k vs buying in my pocket. Hypothetically, if I could afford to live in a 3 mil house, it would be an extra 24k. In a 6 mil house? 72k.

"Honey, if we rent we can have an extra 10k/yr in the bank"... Doesn't sound like a hard sell to the wife.

Edit:

Here's a quick oranges to mandarins comparison:

Massive house off of Angus Dr, 5800/month

http://vancouver.craigslist.ca/van/apa/5393948165.html

Similar house, a block away, 7 mil

https://www.realtor.ca/Residential/S...olumbia-V6M3P4

01-25-2016, 02:51 PM	#4590
Mr.C Even when im right, revscene.net is still right! Join Date: Aug 2010 Location: Richmond Posts: 1,349 Thanked 1,776 Times in 444 Posts Failed 195 Times in 67 Posts Member's Picture Albums	Just to clarify my point, I'm not a 'rent always, buying sucks' kind of person. However, the rent ratio in the Lower Mainland is SHIT. Here's an easy way to visualize it: http://www.nytimes.com/interactive/2...ator.html?_r=0 A house like the one I live in is worth roughly 1.5 mil. Even with an extremely optimistic outlook that homes will continue to rise in price 7% a year, it's still cheaper to rent if the rent is under 3k or so. If it's in a 3 mil house, my rent can be under 6k. I can rent a 3 mil house for 4k in Vancouver. Or a 6 mil house for 6k. Right now, I'd be putting an extra 10k vs buying in my pocket. Hypothetically, if I could afford to live in a 3 mil house, it would be an extra 24k. In a 6 mil house? 72k. "Honey, if we rent we can have an extra 10k/yr in the bank"... Doesn't sound like a hard sell to the wife. Edit: Here's a quick oranges to mandarins comparison: Massive house off of Angus Dr, 5800/month http://vancouver.craigslist.ca/van/apa/5393948165.html Similar house, a block away, 7 mil https://www.realtor.ca/Residential/S...olumbia-V6M3P4 __________________ Have an E38? Check out E38Registry.org! http://www.e38registry.org/ Last edited by Mr.C; 01-25-2016 at 02:59 PM.