this post was submitted on 20 May 2024
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Why would anyone choose to rent provided an option to own and sufficient funds? Who owns new construction? If landlords, why not manufacture scarcity to drive up prices?
If you only work at a temporary place for example. You don't want to bother caring for a house. You want to be able to move whenever you like. You can't afford a loan or you can't get one. You cannot guaranty that you will work in the near future.
A mortgage is something that will lock you down to a place. Buying a plac is also something that lock you down. You wanna move to another town for a new job ? Sell the house, buy a new one. That sucks. It's faster to just rent for a while then maybe buy something after.
I know it has been a bit. Renting makes sense in the case you mentioned. Needing to buy and sell property is a hassle. Landlords are a necessity for short term housing under the current economic model.
A future economic model could be use based. Housing is yours while you use it. The housing is available for someone else when you move on.