Kommentare
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can you remake this video with better quality?
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but what would you happen when you get old and are not working have no income and still doesn't have a house but have to pay the rent every month? the housing price would keep going up, even you saved for savings but you might loose your money on wrong investment and there is money inflation going on all across the world ,and it doesn't feel secure and free if you are 80 years old but still have to pay for rent but the house you live in is not yours.
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You have added the cost of selling i.e. the brokerage cgarges as well but if you really want to compare renting and buying after 10 years you should also include what is cost(brokerage charges) of buying a house with the saved money from renting beacuse at the end of the day you did all this to have a house, becaue if you dont then what is use of doind all this. so either exclude the brokerage charges for selling or include it in for buying the house after 10 years as well.
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You really need to trip load this with better quality
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Pennymac is the worst loan company to have, if your mortgage has been placed with Pennymac REFINANCE!
They have been running an agency around for the past month for one of their clients who escrows regarding his renewal payment to the point it is now up to the client to pay the bill or his insurance will lapse. NEVER has a real mortgage company allowed this to happen, they would pay the bill twice before allowing a lapse and exposing themselves and the clients interest. Every time we called and asked for a supervisor they "transferred" us and we were "accidently" disconnected. We have been told numerous times it was overnighted, then it was sent regular mail and one of the employees actually told me I could pay it and send them the dec page. They called repetitively asking the same information to "handle" the situation and by the time we moved up to a supervisor we were disconnected. For professional as well as ease of mind if you are a client we strongly encourage you to refinance and stay away from this company!!!! -
From you spread sheet it appears that after the correction you make in the end, you actually save $21426 after 10yrs if you BUY a house compared to renting for 10yrs. Please clarify this.
Please download the spreadsheet to see this for yourself. -
It says your total cash after 10 years of owning is 445,666 and 480,044 for renting. So why is the owning vs renting number not a NEGATIVE number?
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Sal, love all your work but your assumption on renting a million dollar home at $3,000 is not possible. Here in CT a home valued at $175,000 will rent all day long at $1,500. You are not renting a million dollar home for $3,000.
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No one is in rent business to loose money.
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This is a wonderful video. As a home owner and as a renter I fully agree.
What he doesn't even mention though is that as a home owner you are fully responsible for any repairs that the home needs. If one day you have a lot of leaks in your ceiling and discover that your home needs a new roof, an owner has to dig deep and pay it, while a renter just calls the landlord.
Over a long period (30+ years) owning a home will do better than renting, much better. However, it's becoming less and less common for people to stay in the same job/location for that long. -
Living in the world that is spinning, Salman Khan is the bringer of stability and success. He snatches the sceptres from the deceivers who wish to deprive the simple-minded from their wealth.
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bless you brother.
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Brilliant worksheet!
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ok for you, that might be true, but in the las vegas market, buying a house is a no brainer. rent has surpassed mortgages, because the market is ripe with foreclosures, to the tune of probably over 40% of the market is underwater and out of a home. With that, people have to live somewhere, and rents shot up. first and last, plus cleaning deposit. and no no no you pay water and electricity while renting here. The only places that you don't, you wouldn't want to live in.
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Do the math. Rent insurance is like $10 a month vs. $100 for home owner. Most renters have water/garbage collection covered, home owners don't. I rent and have taken out business loans with no issue, as long as you can show you have steady income and savings. I would say most people in general, renters and mortgage borrowers (you are not a home owner until you paid it off) don't save.
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I can't wrap my head around why he wants to sell the idea that renting is better. The renter pays: principle, interest, taxes, insurance AND profit, along with all the utilities in their name. The renter can't deduct any of that. He also neglects to state the fact that a bank will talk to a person that owns a home, about taking out business loans, home improvement loans, etc etc. Renter can't do any of that. And, most renters don't save, am i right? That's why we have negative savings.
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Sal's the head of Landlords union. So he is basically driving up the number of customers... MUHAHAHAAAAHAHAAAA
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Please.. Im afraid some people might believe you. Stop this madness!
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I know plenty of people renting there investment homes below mortgage cost just to hold on to their homes. I also know people who purchased homes well before market inflated and they rent at levels much lower than those who bought 5-9 years ago. I much rather have the freedom to move and upgrade, or downgrade when necessary versus being indentured for 30 years to a Mortgage. During good economies buying looks great but during a downswing I rather be a no stress renter. Swings will occur.
Detailed analysis of the rent vs. buy decision. Created by Sal Khan. Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/core-finance/housing/mortgages-tutorial/v/introduction-to-mortgage-loans?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets Missed the previous lesson? Watch here: https://www.khanacademy.org/economics-finance-domain/core-finance/housing/renting-v-buying/v/renting-vs-buying-a-home-part-2?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets Finance and capital markets on Khan Academy: Is it always better to buy than rent? What if home prices go up dramatically and rents don't? How can we compare home prices to rents to figure out what to do. This older tutorial (low-res, bad handwriting) walks us through this. It is about housing but similar thinking can be applied to any rent-vs-buy decision (spoiler alert, Sal did eventually buy a home). About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content. For free. For everyone. Forever. #YouCanLearnAnything Subscribe to Khan Academy’s Finance and Capital Markets channel: https://www.youtube.com/channel/UCQ1Rt02HirUvBK2D2-ZO_2g?sub_confirmation=1 Subscribe to Khan Academy: https://www.youtube.com/subscription_center?add_user=khanacademy