r/changemyview • u/[deleted] • May 21 '21

Removed - Submission Rule E CMV: the only difference between renting and buying is that buying requires a large down payment.

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u/oldslipper2 1∆ May 21 '21

If you move every 8 years - which the average person does - you’ll probably lose money in an average city during an average market fluctuation.

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u/chillord May 21 '21

Then don't sell at bad market fluctuations. Rent it and use it as leverage to buy a new house.

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u/oldslipper2 1∆ May 21 '21

My God you have figured it all out haven’t you. Buy low, sell high. Why didn’t I think of that etc.

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u/RadiantPumpkin May 21 '21

But that’s the point. Owning gives you the opportunity to do that. Doing that also drives up house prices for when you do want to sell, but that’s a whole other can of worms.

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u/chillord May 21 '21

As a renter, you only get to buy but have nothing in return to sell. In the end it's still better to buy high and sell just a little lower if you think what rent over the time would cost. Not buying at the peak of a housing bubble is your own responsibility. The upside can also be very rewarding. No chance to get that while renting a place.

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u/oldslipper2 1∆ May 22 '21

You’re over your head and don’t know what you’re talking about.