Why would people living stressful lives choose to rent? That makes no sense—generally speaking, people don't like renting and generally speaking it's more affordable to pay off a mortgage than it is to pay off someone else's.
Do you like buying houses with money you don't have?
If you rent you're in control. lost job, downsize with little hassle. noisy partygoers or Airbnb managers move in next door, just move
I call bullshit on both counts. When I was renting I had two separate incidents where neighbors came into the adjacent unit and caused issues. In both cases the landlord finally had to evict them.
"Downsize with little hassle" amounts to the same as "just move" which is by no means a small or easy thing to do. People have kids in school, you can't "just move" but instead have to find another apartment, that you can afford, where you can pay whatever bogus up-front fees the landlord wants. Your landlord could decide at any time to sell your building/unit/house to another landlord. Your rent goes up with no ability to control it.
Owning a home puts me in much greater control of how my life looks than renting ever did. It requires a little more effort and care for renting and there's certainly some risk, but there's a lot of upside too.
And yes, I would love to own a house. I just can't get the mortgage without meeting irrelevant and onerous criteria.
They live stressful lives because they're running after money
> it's more affordable to pay off a mortgage
Most people can;t afford mortgage. In most places they'll rent you a $500/month place but won't let you take a mortgage for $500/month. Not even taking into account current interest rates
Nit, but they can afford the mortgage fine, the problem is they're denied it.
A relative few people think it's financially better to rent than to own so they can deploy their capital elsewhere. These folks have a lot more capital to play with in the first place, and would likely be part of the group that rents but lives longer.