Whites now 20 times as wealthy as blacks, Hispanics lose 2/3rds of their wealth

[DGuller]

Nah, I was just impressed that you both made a valid point, and also came up with a fitting analogy to reinforce it.  Therefore, I had to save it.  Who knows how many years will pass before you make a post like that again?

[MadImmortalMan]

Here's a question. How far skewed does the rental market have to be before paying the rent and saving/investing as well is a better plan to get to the point where you have enough money to pay off a property and live rent free over getting a mortgage and paying all that interest and taxes over the same period?

Assuming you can get a decent return on your cash savings.

http://insights.truliablog.com/vis/rent-vs-buy-q3/


These don't take into account the opportunity costs but I think it does taxes. I assume the biggest drawback of buying is the massive interest you pay. But you can't live nowhere, so the rent eats up the same. Unless you live in your parents' basement I guess.

[Malthus]

Buying also comes with maintenance costs.

[DGuller]

Here's a question. How far skewed does the rental market have to be before paying the rent and saving/investing as well is a better plan to get to the point where you have enough money to pay off a property and live rent free over getting a mortgage and paying all that interest and taxes over the same period?

Assuming you can get a decent return on your cash savings.

http://insights.truliablog.com/vis/rent-vs-buy-q3/


These don't take into account the opportunity costs but I think it does taxes. I assume the biggest drawback of buying is the massive interest you pay. But you can't live nowhere, so the rent eats up the same. Unless you live in your parents' basement I guess.

Well said.

[Razgovory]

I feel really sorry for the black guy who is 20 times poorer then I am.

[Ideologue]

I feel really sorry for the black guy who is 20 times poorer then I am.

[Tonitrus]

Renters still get to kill trespassers at will?

Yes.

From what I've seen when I've looked at buying, a straight out mortgage is almost always significantly less than rent.

But....

Renting:

- You pay rent.
- Easy to move. (being in the military, rather important).

Buying:

- You pay mortgage (cheaper).
- You pay for all that maintenance crap.
- Property taxes (we love those in Amerika), and in some places, those are a huge deal.
- Immobile (unless you want to deal with the ass pain of  either selling/moving/landlording).

Until I figure I'll be stuck somewhere for awhile, renting seems the wiser choice.

[Ed Anger]

Easy to move. (being in the military, rather important).

I never did get the point of chair force officers buying houses in my area. They are gone in 1-2years and they got stuck with a house they couldn't sell.

I will give you chair force props for being the best people to rent to I ever had.

[CountDeMoney]

What the report doesn't say is that drop from white pipples from 2005 to 2009 was specifically all of Berkut's money.

WTF is your deal?

How did I become the sand in your vagina?

Because you make it so easy sometimes. 

[jimmy olsen]

Wait what?  The text you quoted claims that the average white family has 20 times the value of an average black family but that is not what the graph is showing.  These are the median families.  Meh.

No wonder I was initially confused.

He doesn't even provide a link, so I am questioning the validity of this whole thing.  If you google his quote, the only hit is his post.

My mistake

Here's where the graph is from. I forget where I got that blurb.
http://www.citylimits.org/multimedia/382/wealth-gap-hits-record-between-whites-minorities

[Ideologue]

Where the hell is my $113,000?

[DGuller]

Where the hell is my $113,000?

The most productive members of society have it.  Sorry. 

[Ideologue]

Where the hell is my $113,000?

The most productive members of society have it.  Sorry. 

They won't let me be productive.

[dps]

Where the hell is my $113,000?

The most productive members of society have it.  Sorry. 

They won't let me be productive.

"They" in this case being you many negative moral, mental, and emotional traits.

[dps]

It's quite possible that, say, 60% of whites own a property and only 40% of black people. If that was the case then selecting the 50th centile for net worth would be a great way of grossly exaggerating racial differences in wealth.

I'd guess that it's closer to 80% and 20%.