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Drawing Conclusions: Is renting really a waste of money?

The Globe and Mail 5 views

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iWhy,/i don’t they teach this sort of thing at school?! 🤷‍♂️🙄
Comment from : @mychannel3774

oh boy this aged like wine turning vinegarbrbrrent price only goes up, your mortgage repayment is practically the same forever, it goes well with inflation
Comment from : @waterboi4846

Excellent
Comment from : @xpxp2839

Short answer: YESbrThey are just screwing with you people
Comment from : @ilmaio

ofc its a waste of money!
Comment from : @flyingdutchmanSimon

If you’re disciplined *
Comment from : @zantistan

It depends on a lot of different factors including both in- and outside of your control, but in general I'd still stick to saying you should buy a house The only thing I'd say this video helps clarify, is that renting long term is not as bad as people say it is Probably still worse than buying, but if your decision was well thought out, it might hold true that it was the best decision for you
Comment from : @goji5887

This video has taught me that owning a home is definitely better Exactly the clarity i needed to make up my mind!!!brbrThe social validation and security that come with owning a home are priceless 💖
Comment from : @kokanjokatulu8329

I'm 48years old living in California, I'm hoping to retire at 50 if things keep going well for me Bought my third house last month and I can't be more proud that am i now I'm glad I made great decision about my finances that changed me forever but now I can't seem to make any other smart investment
Comment from : @JhonJhon-p1p

Obvious difference is that once you have paid the mortgage you get to have a house
Comment from : @alex29443

we r renting all of it some renting pays better than others
Comment from : @danielmedina333

Of course it's not a waste of money! How could I afford multiple properties without somebody paying my mortgage for me?
Comment from : @awesomises

Did they miss the cost of interest for 'ol Owen? 25 years of interest will eat into that 578k
Comment from : @Langooney

A house is a target for financial disaster on all fronts, plus it's a huge loss of privacy I like renting because neither me nor my money is tied down If you can afford a home you can always afford to rent a small place
Comment from : @raygordonteacheschess5501

Thank you so much This is the video I had been searching for
Comment from : @ej3943

If you are renting a apartment or house you are homeless You are no better than a person that lives on the street You are paying they are not You own nothing
Comment from : @greer2402

You forgot to add in, Property tax, escrow Fees, and home insurance cost, compared to that of the renterbrRenter does not have monthly escrow fees, property tax, or insurance on the value of the home Considerable difference
Comment from : @mickpalmer951

Renting coud be considered theftbrmaybe not as much as corporate investmentsbrbut either way , Canada has no moralsbrInterest in another brand taxation is also theftbrand Roman Tribute
Comment from : @je-freenorman7787

As home owner i can only say, Please keep renting guys Your kids will feed my kids in the future The more properties i have, the more you guys feed my kids Thank you I dont mind to work hard and pay mortgages, at least i am appreciated by my kids when i am old Plus mortgage is only 30 years I am sure they all paid off when i am old I dont wanna end up having nothing and my kids just throw me to aged care lol At the very least by owning, it save my generations from being a renter
Comment from : @linalie3224

I really-really doubt the $2100 monthly rent for a 500000 house Unfortunately, it is not a fair comparison It would be a fair comparison for a 300000 house
Comment from : @dzianisdashkevich1033

Isn't the problem here that it's only looking at 25 years? The buyer will own the house vs the renter will still have to rent
Comment from : @User24x

is this the purchase of a house or condo 2 different things
Comment from : @milwaukeemotor5995

rent over time at 50,60,70,80 will continue to increase, mortgage payment will decrease
Comment from : @milwaukeemotor5995

Great 👍
Comment from : @lyda9335

Wonderful 💋 Presentation
Comment from : @ravindertalwar553

I am a landlord, l prefer you to rent than to buy 😂😀
Comment from : @nickyyap1663

What rent stays the same for 25 years?
Comment from : @mercedesozuna7124

Global and mail is a MSM peace of Garbage Trust nothing they say!!
Comment from : @BillSmith-su4jt

500k for a house in Toronto , just 7 years ago wow It sounds amazing
Comment from : @andreamarkovac6149

Renting for 25 years??? that sounds awful
Comment from : @mikedemko6110

Home prices in Canada have more than doubled since this video was posted Renting long term is an absolute mugs game, period
Comment from : @briansmith5239

What's more important is the emotional attachment and the sense of belongingness of owning a house, which can't be compared It's not like any other investment
Comment from : @Eternal-Sunshine-Universal

Unless I've missed something, it seems like you overlooked the benefits of tax-advantaged accounts such as a TFSA or RRSP in your analysis This is a pretty glaring oversight considering all of your calculations use after-tax income and in your final equations you deduct $77K in taxes alone Obviously for investments in a TFSA the cost of selling off assets is $0, and in an RRSP you benefit from putting pre-tax dollars into the market rather than post-tax dollars This could easily absorb the $100K difference you describe near the end of the video, while also offering more flexibility in terms of diversification and risk management
Comment from : @edenmacdonald7474

Over the years, I’ve channeled my investments to stocks and real estate, both have been great investments so far, the answer comes down to your financial means, risk tolerance, personality, and ongoing returns
Comment from : @oliveredwards2793

This was posted 7 years ago and Watching this now in 2022 living in metro Vancouver Real estate market has been hot past few years that many home owners made double or more they bought the house for in a short period of time I also bought a single home few months ago and in 3 months my property increased in value by at least $300k
Comment from : @debraang36

This didn't age well
Comment from : @ather1276

Fun fact, mortgage literally means death pledge
Comment from : @cindyi8471

1) Live "below" your means br2) Get a 30 year mortgage you can afford very easily if faced with hard times, but Pay your mortgage off quickly if you can I paid mine off in 9 years, the bank was pissedbr3) If you own your home and things go bad You only have to come up with utilities, insurance and taxesbr4) Your home is kinda like a savings account, you have financial equitybrButbr5) Never barrow against your house! Never put something as important as your home on the line
Comment from : @tjslooking

I stopped watching after they missed the opportunity to call the renter, Brent Brent the renter
Comment from : @jonastronaut2942

😆How stupid is this video You didn't consider the mini hyperinflation & take into consideration of quantitive easing back in 2008 and prior & future One of my properties bought in 2013 for $180,000 is now worth $2,100,000 currently Rent has now gone gangbusters due to inflation & many other factors So do the math
Comment from : @johntak1187

Also renting have this annoying moving fee, and have to get security deposits taken away
Comment from : @jus4fungaming745

You also have to consider neighborhood quality risk I've seen homes in formerly nice places go to pot within 10-20 years The renter can get out at any time The mortgage holder watches his property value fall and is stuck with the property in some cases Take into account maintenance costs, it really is a wash in my opinion At least if we're comparing primary residences here Not rental properties
Comment from : @chuckwhite3033

beautiful hand writing
Comment from : @basicattentionwoman5787

is this the same guy as the After skool channel? The art style is extraordinarily similar
Comment from : @aspromonte5179

What if roger the renter still lived paycheck to paycheck
Comment from : @nonijoshi1082

Roger the renter must not live in a 2100 dollar house brHe could’ve lived in a 400$ a month apartment
Comment from : @nonijoshi1082

Don’t overcomplicate things if you have $35,000 cash… move to a 3rd world country… now your rich 🤑 😂🤣
Comment from : @dmerchantprince2506

You don't factor cleaning or maintenance fees Things break down and property taxes go up
Comment from : @RetireThaiStyle

Yes Next question
Comment from : @Rex_Starborne

Why does everyone assume they’ll be alive long enough to pay off a house?brbrI’m 47 and have rented all my life … Now I’m “ CONSIDERING” buying a condo in 3 years …Maybe … around 150k MAX if I stay and pay it off in 30 years I’ll be 80 years old 🙄 wouldn’t it make more sense just to rent an apartment in a nice area?
Comment from : @modalsoul6511

There's one variable the creator missed out brbrWhat if both brothers changed jobs and increased their salaries?
Comment from : @riacharda

Very good video Of course, if you can rent part of the property or a room as many ppl in Europe does it, itsnt that bad
Comment from : @Janezeta

With so many good investments options out there today, I would say that a house is not a great investment, maybe good but not amazing returns brbrYou are putting all your eggs in one basket, in one city, in one area, in hope that appreciates in value after XX years (remember to factor in inflation)
Comment from : @cp4z494

Simple roger and owen get married and this feud is over
Comment from : @Youtube304s

All I can say is I am glad I don’t rent The houses go up in price so fast in my country it’s almost impossible to keep up with your down payment to buy a home
Comment from : @unnamedchannel1237

You'll Own Nothing And Be Happy: The Great Reset MK Ultra Propaganda
Comment from : @janebray9392

Why is Roger paying 2100$ on a house that should cost 3220$ per month? This video is biaised
Comment from : @ioresult

good job
Comment from : @danielmitch2734

Home owning is expensive once you calculate increasing property taxes every 2 years and unforeseen repairs on top of the mortgage I saved more while renting 😩😩😩
Comment from : @kailzl1211

What do you mean "upon sale of his portfolio"? What is he selling?
Comment from : @Splashstar216

The last part hit the nail on the head If you SAVE , we live in a consumer world sometimes it very difficult to save therefore renting and ending with more is archivable but difficult
Comment from : @centralappliances8516

what if I buy a home and invest as well :D
Comment from : @koemachi

Since the assumptions are mostly wrong or fictional, the conclusions are probably Well, I am just going to ignore that: since I'm a very benevolent person, I can wholly trust news organizations to provide me with the right advice, as they could bnever ever/b render themselves guilty of depending on advertising revenue from landlords and real estatebrbrMakes a lot of sense doesn't it?
Comment from : @oldskoolmusicnostalgia

if he invested in a TFSA, which is a common route, he’d not have to pay income tax on his investment
Comment from : @ShwaComedy

Supersound "analysis"
Comment from : @sanasolis

Unless you would rather be Homeless, paying for a place to live is NOT a waste of money!
Comment from : @-WhizzBang-

I like this video More people would rent my apartments that are on a mortgage Yes, rent! Pay my mortgage Please brHe didnt put into account that the rent for roger wont be 2,100 for the duration of 25 years Rent will increase! Meaning he will end up paying way more in rent at the end
Comment from : @Aymcana

Listening to all the taxes you guys pay in Canada while living in America is painfullll How do you guys save or anything???
Comment from : @chrisstevens3567

Doesn't take into account opportunity costs either The home owner had to mow the lawn every Saturday, or shovel the snow when it snowed Replace the furnace, did he have to change the shingles? If you make $25 an hour, probably more if you worked a Saturday, one hour to remove snow or mow
Comment from : @justinsinnard3828

Orwhat I've the renter didn't pay $2100 in rent per month and it was more like $900😑
Comment from : @MrDerekRobinson

But this is example from USA, in some countries like Georgia is not any property tax
Comment from : @travelandearnmoney

If you hunt for deals, buy 10-15 under price for the house, renovate to increase value, have more money to invest, make a higher down payment, refinance the loan after renovating the house or if real estate prices go up during the repayment period, take a loan for a more optimized period of time, rent out the property while you're paying the emi, live in a smaller house on rent while you haven't paid the loan (also giving you the flexibility of moving)brYou can make money if you already have money for this sorta stuff
Comment from : @SpricesExist

It’s 2021while every one was debatingthe prices went through the roofand renting is now the only optionfor some
Comment from : @greenearthblueskies8556

These comment bellow destroying the video like hell hahahaahashshahaah
Comment from : @viperultra12012

Guys sorry but this is bullshit
Comment from : @viperultra12012

0:41 No the fuck it doesn't, some prick that must talk like ben shapiro, bought that house to charge you extra for their profitbrYeah it's voluntary, even if the difference from having that house or not, is literally homelessness, or having to go to a really far/horrible area of the city, or outside the city, and that would require extra income in transportation, so more problems, or simply going back to their town that left years ago or some shit like this
Comment from : @ellejendario97

This is very misleading information!!! ❌❌❌
Comment from : @darjaamulenko4799

Not one person is listening TORONTO NOT OTTAWA Not united stated Fucking toronto
Comment from : @ieatass6463

getting into Investing to create a passive income should be every wise man priorityi made my first million from having a diversified portfolio that spread across stocks, grade bonds, coins and etfs also with the help of a full service broker handling my portfolio smart investing is key Mr bernardmoore_official is the man
Comment from : @paulparks6649