Renting vs. Buying: The Facts Nobody Talks About

Ken McElroy Show

Ken McElroy

Business, Investing, Education, Business News, News

4.8 • 692 Ratings

🗓️ 21 January 2025

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

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Summary

Ken and Danille discuss why renting is significantly cheaper than buying in today’s market—but does that mean homeownership isn’t worth it? In this video, they dive into the financial benefits of owning a home, from long-term appreciation to equity building, and explore why buying may still be the smarter choice despite high costs.

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ABOUT KEN: Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, and The ABC’s of Property Management. With over two decades of experience in real estate investing, Ken McElroy is passionate about sharing the good life by helping real estate investors grow and prosper. This podcast is a place for Ken to discuss numerous topics connected to real estate investing, including finance, budgeting, the entrepreneur mindset, and creating passive income. Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.

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Transcript

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0:00.0	With home prices so high, the question is what's wrong with renting?
0:07.8	It's not a question.
0:09.9	I mean, I think people, they solve to that monthly, right?
0:13.8	Like, it's the same thing with a car.
0:16.2	People afford what they can, right?
0:18.7	And I think generally most people, even though the landlords try to make it sound like,
0:23.7	why rent, you know, why buy when you can rent?
0:27.0	And, you know, and there are people that do rent.
0:31.2	But I think generally people should be buy the house, right?
0:35.8	And but right now they can't.
0:37.5	Right, right now they can't.
0:38.6	So, but it is significantly cheaper to run right now.
0:41.7	So there is, you know, some, you know.
0:45.4	It's not going to get any better.
0:46.8	Right, but I'm saying right now it is cheaper to rent in a lot of big areas than it is to buy.
0:51.7	So I do see the appeal for a lot of people on their monthly
0:55.0	payment. Yeah, well, they have to. It's not really much of a choice, right? Well, kind of, but Jerry,
1:01.4	pull up clip one. So like in Austin, you know, you have 141 percent difference in renting than buying.
1:13.0	You know, Seattle's 121%.
1:14.7	Phoenix is almost 100%.
1:16.3	I mean, these are big numbers, the difference.
1:18.6	Like, it's about half to rent than to buy.
	...

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