DConf 2013 Day 3 Talk 1: Metaprogramming in the Real World by Don Clugston

[John Colvin]

On Tuesday, 11 June 2013 at 21:29:49 UTC, Walter Bright wrote:
> On 6/11/2013 2:19 PM, Steven Schveighoffer wrote:
>> Define financially better off :)
>
> You have mo' moolah. Is their any other definition?
>
>
>> And this is not even a fair conversation, because there are so 
>> many variables to
>> consider.
>
> I'd like to pop that default conception that buying is 
> financially better than renting. It's only true if real estate 
> values appreciate faster than inflation plus taxes plus real 
> estate commissions, which is hardly a sure thing.
>
> (A lot of people overlook property taxes and capital gains 
> taxes when they make these calculations. I know one guy who 
> cashed in his stock options and bought a house with the 
> proceeds, only to be forced to sell it a year later because he 
> couldn't pay the upkeep and taxes on his salary.)
>
> I can't even recall anyone remembering that selling a house 
> costs you a 6% commission to the real estate agent. Poof! There 
> goes a big chunk of your profits right off the top.
>
> Housing prices have to go up a lot to counter all that.

In my experiences renting in the UK, a lot depends on the local 
conditions.

For example, low quality housing situated near a university is a 
fantastic investment as a landlord: There is very little domestic 
demand for those properties as the academics don't want them and 
nor do the better paid admin staff, so the prices stay low. 
However, the rental demand is intense,  inexperienced and 
inflexible, keeping rents very high.