Horseman

Perhaps I got that wrong. I haven't had a mortgage for decades. But hey, it only works if you're leveraged right. What you got that extra 200K invested in?

Looks like someone hasn't read the closing documents on their 250K home.

Only poor people pay the lender a fee to pay their taxes for them.

It's true that most apartments are about the same size as your house, not the 1M kind.

My property tax increases 1000 per year.. But hey, if I was poor and had a mortgage I wouldn't have to pay any of that according to Raven Logic!

Ignore maintenance and upkeep, pretend the property tax magically disappears into the mortgage and then when proven wrong you go back to the leverage angle huh. That's how financial math works at the hospital? I mean I lean towards home ownership, I own a home. But it's not backed up with your 3rd grade math. Works in finance.

250K at S&P 500 rates is 5 million after 30 years.

First of all. $250K house. Second of all. Nobody is going to take you seriously if you don't take into account property tax, maintenance, HOA fees, and all the other costs that Seafoam's Landlord (or homeowner)has to pay. Thirdly. You claim to work in finance.

I didn't do anything. You made the mistake of trying to take on Gekko so he posted your pathetic life on Discord and Bodybuilder for everyone to see. So you can save the stalker strawman. Following me around shot gunning the same posts over and over while on break from payroll on the other hand.

They made fun of how Trump drank water and that he *might* slip on a ramp. Then Biden fell off his bicycle, then down the stairs, then stumbled up the stairs three times in a row, then face planted on the stage. And now he has to use the short service stairs at the rear of the plane. Totally the same thing though.

Having to pawn jewelry because I might go broke is a thought that's never entered my head. That's what poor people sound like.

Maybe you have a link, because I've heard him say the correct answer, "It depends" several times in the other thread. I think people are abandoning sound financial fundamentals because of the irritation they feel from Seafoam. On the other hand there is more than one retard that are saying definitively owning is better long term.

18K Gold cleans pretty easily. You wouldn't have any reason to know that though. Hand me down? Oh, that's right, you're still mad at the mother-in-law for not leaving you anything.

I've heard breathing into a paper bag helps.

Ok. Don't say things that you don't mean then. Because you clearly said boss, and were referring to individuals, not the company.

Who said that? Read much? You should sit this one out. My watch costs more than your car. You aren't qualified to do my taxes, let alone give out financial advise.

The question you should be asking is what his boss made vs. him.

I was talking about the individual who is utilizing the consultant. Not some company just marking up their salary. (We more often than not we use individual consultants that work for themselves) But, lets use your example. And note you changed the requirement, we are taking about their direct report (boss) not the company that charges the mark-up. Are you contending that a managing director of a set of highly specialized consultants always has a salary higher than those consultants? I doubt it. The only specialty the boss needs is in scheduling and management. But here is the point of this hijack: You can't definitively say. That's especially true with renting vs. owning.

Not absolute. (But that wasn't his argument anyway) Seafoam stated that he moved often for work, I believe. That alone makes it likely that renting is the better choice financially. If the landlord made a profit then it's possible both of them made the right financial decision. Also, if I'm not mistaken, Seafoam was a consultant? Consultants often make more than the individual they work for.

You have an asset at the end in both cases.

He said, "I would have made far more money had I instead rented and used the purchase money to buy stocks." There isn't any miss-interpretation on that and simple math proves his point at a reasonable rate of return. There is no need to interject an arbitrary inflated number. Right, "comparable" then you go and do the opposite. That's all I ever claimed, that's where your reading comprehension suffers. It's situational. I'm not defending renting in all cases, I don't rent. I own my home. Again, I don't rent. But nice try. Says the guy that took every single one out of context. Who's reading compression is so low you probably thinks seafoam authored that post.

Whew! I thought it was really touch and go there for a minute when that one idiot posted the poll from American Research.

Update?

Drives his wife to drink.

Of course he was referring to his situation. He's clearly talking about himself there. Yes his principal investment of $31,500. Go ahead and plug $31,500 into a compound interest calculator for 50+ years and I'm guessing that holds true in the majority of cases. Rent is always (usually) higher than a mortgage. And it's not a 1:1 comparison whether you should buy or rent. Let me quote that part again. The part most people misinterpret about the Buffett quote is that he's actually defending home ownership. It was in a 2010 letter to shareholders and the paragraph begins with But this was right after the housing crisis and he warns that THE POINT is that it Rent vs. Buy depends on many factors, some of which don't have dollars and cents assigned to them. Some idiot in the other thread claimed that "owning is ALWAYS a better long term financial decision than renting". That's just not true. Financially alone, Buffett would have made more money had he rented. But there are are few good rules of thumb: - You shouldn't buy a home more expensive than you can afford. Generally less than 3x your gross annual income. - Generally it's better to rent in high cost of living areas and buy in low cost of living areas. Price to rent ratio. - Generally it's better to rent if you aren't going to be in the home 5 years or more. - Generally it's better to rent when interest rates are high, and visa versa. - What is the likelihood that the value of the house in your area rises, compared to inflation or compared to alternate investments? - Generally it's better to rent if you already have substantial debt.