DailyFinance's Nikhil Hutheesing asks Formula Capital's James Altucher why he thinks that owning a home is a bad decision.

Comments

    • 816MOKc
      816MOKc

      1:50 😂😂This guy wants to rent out his properties.
      "You're probably paying much less to rent then you would pay for your mortgage, taxes, and maintenance"
      So listen guys use a little common sense to realize this is a lie... Let's say you are renting from someone. They are not going to rent to you for the fun of it. They must cover the mortgage, the same maintenance and taxes you would have to pay if you were the owner. In addition to that they need to make a profit and that's where you get the bone.
      Don't listen to this guys nonsense. If I were renting the same house that I'm in right now I would be paying probably $300 more a month than what I currently do on mortgage (taxes and insurance built into the mortgage) That additional $300 monthly well exceeds what your maintenance costs are likely to be long term.
      The only thing you need to avoid is purchasing your house while the markets on fire, look for a good deal and be patient so that you can see a net gain when you go to sell years down the road. 👍Remember there's no substitute for common sense.

      about 2 days ago
    • cat
      cat

      Nomadic lifestyle helps you develop your career more, plus interest is the most evil thing in the economic world. Dont fall for the trap!

      about 9 days ago
    • PianoAmante
      PianoAmante

      It’s better living by the ocean in a small paid off RV

      about 17 days ago
    • Rajeshwari Janwadkar
      Rajeshwari Janwadkar

      Don't own the Car . Use public transport.

      about 20 days ago
    • randy scott
      randy scott

      Just read the book THE MILLIONAIRE NEXT DOOR and maybe you'll learn something .

      about 28 days ago
    • Jack Saltzberg
      Jack Saltzberg

      Looks more Jewish then a bagel

      about 1 month ago
    • Sandy Stark
      Sandy Stark

      The interviewer keeps interrupting.

      about 1 month ago
    • Kamara
      Kamara

      This guy sounds dumb.

      about 1 month ago
    • julie doll
      julie doll

      Exactly!

      about 1 month ago
    • Peggy Sorrento
      Peggy Sorrento

      you are right but if your renting is ceased by any reason then you will be in the street. if you do not mind end in the street it will be a idea to not own a house as street is free rental area.

      about 1 month ago
    • Emi D
      Emi D

      Well, where I live, one bedroom/one bathroom 700 sqft apartment rent is about $950/month + utilities. The rent goes up by $25/month every year.

      I own a three bedroom/two bath 1000 sqft small house, including mortgage, tax, insurance is
      $795/month. Utility cost is not that much different and I cut the grass myself. My boyfriend is a handyman and he can fix most of stuff. Buying the house is win/win for me!

      about 1 month ago
    • terry shea
      terry shea

      Rent is paying someone else's mortgage so pay your own martage/rent

      about 1 month ago
    • sdsteve1000
      sdsteve1000

      I own 9 condos in San Diego I bought for $950,000 cash in San Diego forclosure auction in 2009 now they are worth $3.1 mil and I got 100% ROI in only 10 years. Now it's all free income of $15,000 a month and I own a personal $1.2 mil 5,200 square foot home in the hills you know why? Because life is short and I want a huge house for myself to show what I worked for.

      about 1 month ago
    • RaulSupreme
      RaulSupreme

      “I own several homes but don’t buy a home” 🤨

      about 2 months ago
    • Lisa DiConti
      Lisa DiConti

      But in a few years my mortgage pays off. I can retire early because I won't have the monthly mortgage pmts.

      about 2 months ago
    • Cosimo Kramarawicz
      Cosimo Kramarawicz

      Home ownership is a joke ! You never really own it and it can be taken away quickly .

      about 2 months ago
    • glasslinger
      glasslinger In reply to Cosimo Kramarawicz

      Idiot! Don't you know what insurance is?

      about 1 month ago
    • Jmunny Rulz
      Jmunny Rulz

      As a billionaire Ross Perot said this over 25 years ago... I believed it then and after owning a condo and home in my lifetime, I agree totally.

      about 2 months ago
    • Spencer Cooper-Thorn
      Spencer Cooper-Thorn

      Of course this is nonsense , if you never buy your home - you never have stability in where you live . I understand his methodology but but but , renting in the uk is so much more than a mortgage and is rising every year and what’s to say after your 6 month or 1 year rental contract runs out you are then forced to move and nothing is guaranteeing you home availability when your kids go to school or anywhere near your friend and family .

      about 2 months ago
    • Te Kooti Tom Anderson
      Te Kooti Tom Anderson

      Strategically invest the difference when renting. Your cash is then liquid and not locked into a 25+ mortgage. In days of yore, jobs were more secure. Today there's no guarantees you'll be the cradle to the grave employee. Whether renting or paying a mortgage you still will have to service either. The reason you own a home today is either luck or playing Russian roulette. Very few people hold a job down for likely 5-7 years. They move on, are made redundant, divorced, mortgagee sale,Wall Street crash, not covered by insurance, or some other freak of nature. Congratulations for making through the maze.

      about 2 months ago
    • Mark Anthony
      Mark Anthony

      Houses cost too much.

      about 2 months ago
    • glasslinger
      glasslinger In reply to Mark Anthony

      Look around. There are bargains everywhere. Your realtor is NOT going to show them to you!

      about 1 month ago
    • Tria Vang
      Tria Vang

      I used to pay $1,200 renting a small room, now I only pay $560 owning my house!

      about 2 months ago
    • HaveBad Day
      HaveBad Day

      We can’t afford to buy homes because they are too expensive

      about 3 months ago
    • Louie The plumber
      Louie The plumber

      This guy needs tenants

      about 3 months ago
    • goldenpenny
      goldenpenny

      Don't listen to this guy; I 've been in USA for 30 without $ in my pocket; and I have two house one is for rental; the other one; that's where I stay with my family's. If I sell this rentaI have $300000 in my pocket and I can't save that for 30 years. My sister has 20 houses and they can retire if they want it and they are traveling yearly; they gamble three times a year in Vegas. Real estate is a good investment. This guy need to go to school.

      about 3 months ago
    • goldenpenny
      goldenpenny

      He don't know what he talking about; he's misleading people

      about 3 months ago
    • glasslinger
      glasslinger In reply to goldenpenny

      He has no skills. He has to move constantly because he can't hold a job for any time.

      about 1 month ago
    • Mr Hollister
      Mr Hollister

      I agree with him and I’m a “homeowner”

      about 3 months ago
    • Karl Bassett
      Karl Bassett

      In the medium to long term this guy is talking rubbish. I bought my home twenty years ago. My monthly mortgage is now one sixth of what it would cost to rent my home today. And in five years rents will carry on going up and up while my mortgage payments will end and I can live here forever for just taxes, insurance etc which cost a fraction of the cost of renting. If you should be investing then I am the one who has far more space cash to invest because I am saving so much each month. In the short term, or you you think you are likely to move in a few years, then renting can be a good idea.

      about 3 months ago
    • glasslinger
      glasslinger In reply to Karl Bassett

      You also have a massive equity that will be available if you need quick cash for an emergency. Renters have ZILCH!

      about 1 month ago
    • Thicc Boi
      Thicc Boi

      people get annoyed for realizing they could've invested in other things

      about 4 months ago
    • Dominic Someone
      Dominic Someone

      Fuck these 2 choices. I'm living down my parents' basement

      about 4 months ago
    • william schaefer
      william schaefer

      In a word.....IDIOT!

      about 4 months ago