Observations on the current state of the hobby from a show this weekend

[JoshMN]

When this country was founded, only landowners were allowed to vote. Renters should let that sink in for a moment.

[hermanotarjeta]

Well, I guess we found out who the disgruntled millennials are.

[theredmenace]

To buy an equivalent size/monthly cost condo to my current rental in my zip code I'd need a 350k mortgage (not bad!) and a 700k down payment (lmao)

[tyrith]

To buy a house equivalent to the one I'm renting would cost me nearly 2x the monthly rent and a down payment of close to 5 years of rent. Thats really rough on the cash flow on an investment that'll take 20-30 years to break even. I'm not willing to bet that big on the future of suburban real estate with current US demographic trends.

[solt0131]

The money I've saved by renting I have invested into sports cards.

[swerve]

I'm not really against renting but what will you do when you get to retirement?

Once my mortgage is paid off, my tax/insurance payment will be lower than any rent I could ever possibly get.

[auctionjmm]

Originally Posted by swerve

I'm not really against renting but what will you do when you get to retirement?

Once my mortgage is paid off, my tax/insurance payment will be lower than any rent I could ever possibly get.

I think the assumption here is that if you have the means to buy but choose to rent because you see value in other investments, then by the time you retire you could pay cash for a small post-retirement home that ideally won't need a ton of work.

As someone pointed out in the other thread, the average person can't afford to do both at once. They can't rent while also piling money away. So for the average person, the safety net and equity of home ownership is far more valuable to them when they reach that point in life.

I don't think anyone here is saying that rent is a better option for most people in the absence of other investments. This discussion started with the assumption that you already have money put away, and the ability to continue doing so on top of paying your rent. Big difference there in terms of the option one takes.

[hermanotarjeta]

For the record, renting and living in your parent’s basement aren’t the same thing.

[OhioLawyerF5]

Originally Posted by auctionjmm

I don't think anyone here is saying that rent is a better option for most people in the absence of other investments.

The person that started this literally said only poor people think buying a house is a good idea. I get he's just trolling, but it's just wrong, and for most people, owning your home is a wise choice.

[tyrith]

Originally Posted by OhioLawyerF5

The person that started this literally said only poor people think buying a house is a good idea. I get he's just trolling, but it's just wrong, and for most people, owning your home is a wise choice.

Just depends. Losing 6% of the value on exit is rough in situations where prices aren't shooting up. I live in Austin, and there are lots of people who bought at the peak in 2021 that have had their 10-20% down payment equity wiped out due to market declines. There are also people who bought 15 years ago whose homes have tripled in value.

I don't know if time in market applies with RRE the same way as index funds, but there's at least some merit to it. That said, in a lot of markets rents did not increase in line with underlying values - versus 10 years ago I am paying 2x the rent for a house that costs 4x as much to buy. Math gets more complicated in that world.

[swerve]

Originally Posted by tyrith

Just depends. Losing 6% of the value on exit is rough in situations where prices aren't shooting up. I live in Austin, and there are lots of people who bought at the peak in 2021 that have had their 10-20% down payment equity wiped out due to market declines. There are also people who bought 15 years ago whose homes have tripled in value.

I don't know if time in market applies with RRE the same way as index funds, but there's at least some merit to it. That said, in a lot of markets rents did not increase in line with underlying values - versus 10 years ago I am paying 2x the rent for a house that costs 4x as much to buy. Math gets more complicated in that world.

There is definitely that too. I live in Austin as well and I am so thankful that we bought back in 2011. Not just because of the increase in equity but I don't want to imagine where we would be otherwise.

[OhioLawyerF5]

Originally Posted by tyrith

Just depends. Losing 6% of the value on exit is rough in situations where prices aren't shooting up. I live in Austin, and there are lots of people who bought at the peak in 2021 that have had their 10-20% down payment equity wiped out due to market declines. There are also people who bought 15 years ago whose homes have tripled in value.



I don't know if time in market applies with RRE the same way as index funds, but there's at least some merit to it. That said, in a lot of markets rents did not increase in line with underlying values - versus 10 years ago I am paying 2x the rent for a house that costs 4x as much to buy. Math gets more complicated in that world.

Obviously, it's market dependent. Where I live, my house has doubled in value in the last 5 years. And the renting market is such that you can rent a house for more than your mortgage plus taxes. So it makes no sense at all to rent when it costs more than buying, yet you get no equity and the values are returning more than other investments. People who think renting is the better option usually live in terrible markets (aka cities).

[theshowandme]

I know I attacked the American religion (home ownership)

You would have thought I said I’m looking forward to how much Pokemon will be at the National this week

[OhioLawyerF5]

Originally Posted by theshowandme

I know I attacked the American religion (home ownership)

You would have thought I said I’m looking forward to how much Pokemon will be at the National this week

LOL keep thinking you struck a nerve. You just said something dumb. There's a difference.

[anusinha]

Guess what.... all the costs of property tax and HVAC repairs and landscaping and stuff are baked into your rent.

[OhioLawyerF5]

Originally Posted by anusinha

Guess what.... all the costs of property tax and HVAC repairs and landscaping and stuff are baked into your rent.

Yep. I have a house I rent out. The market is twice what my mortgage is, and after taxes and all repairs and upkeep, I make a solid profit every month (and build equity). Not sure how that is a better investment for the renters than if they just bought the house for half what they pay in rent.

[xposipx]

Dang. I wonder why numbers are declining on the forum?

[Bosoxfan5990]

Originally Posted by solt0131

The money I've saved by renting I have invested into sports cards.

This is the way.

[Big35Hurt]

Headed over to Madison for their monthly show. They are doing something new where the first day is sports cards and Pokemon and the second day is TCG only. It was busy but not as busy as the last few shows. Not sure if it's because the national is right around the corner, summer vacations, or if the TCG collectors are waiting until tomorrow to avoid the BO factor?

[hermanotarjeta]

Originally Posted by Big35Hurt

Headed over to Madison for their monthly show. They are doing something new where the first day is sports cards and Pokemon and the second day is TCG only. It was busy but not as busy as the last few shows. Not sure if it's because the national is right around the corner, summer vacations, or if the TCG collectors are waiting until tomorrow to avoid the BO factor?

Summer vacation has definitely slowed card activity down.

[Donkaylove]

OMG-is there really more pokemon collectors than sports cards? This was unfathomable.........10 sports, 75 non sports tables.

I just cant anymoore.

[PuddleMonkey]

Originally Posted by JoshMN

When this country was founded, only landowners were allowed to vote.

Executive order, lets go!

[PuddleMonkey]

solt makes enough bad decisions already, we don't need him voting too.

[PuddleMonkey]

Originally Posted by solt0131

The money I've saved by renting I have invested into sports cards.

How long have you been doing this and how much has it paid off?

[gmoney328]

Went to a show today in Pensacola. About 60/40 sports vs Pokémon. Both genres seemed to have robust traffic and sales. Good show overall.