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GiddyGap@lemm.ee to News@lemmy.world · 1 year ago

Owning a home has rarely been this much more expensive than renting

finance.yahoo.com

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Owning a home has rarely been this much more expensive than renting

finance.yahoo.com

GiddyGap@lemm.ee to News@lemmy.world · 1 year ago
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The premium for homeownership has grown in recent years as home insurance, upkeep, and high mortgage rates skew the buying vs. renting math.
  • TropicalDingdong@lemmy.world
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    1 year ago

    Yeah thats an interesting statement right?

    Because when I look up a chart I see the same thing.

    But when I go to buy lumber, and especially sheet materials, its all still 2.5x - 3x what I was paying in 2019. So as an individual which should I believe? The lived experience I have is the one that took the money out of my account when I bought the lumber.

    Some examples: This was $15 in 2019/20: https://www.homedepot.com/p/15-32-in-x-4-ft-x-8-ft-Sheathing-Plywood-Actual-0-438-in-x-48-in-x-96-in-20159/206827282

    (You might get a different price. For me, its $26)

    And this was $25 in 2019/20: https://www.homedepot.com/p/3-4-in-x-4-ft-x-8-ft-Hi-Bor-APA-Rated-Sheathing-Pressure-Treated-Plywood-95360/202087831 (You might get a different price. For me, its $60)

    Non-treated 2x4 were $2, and treated were $3.5 in 2019/20: https://www.homedepot.com/p/2-in-x-4-in-x-96-in-2-Premium-Grade-KD-HT-Stud-058449/312528776 https://www.homedepot.com/p/2-in-x-4-in-x-8-ft-Standard-Better-Hi-Bor-Pressure-Treated-Lumber-95344/202087781

    (You might get a different price. For me, its $4, and $6)

    Its a reflection of the same presentation that the Democrats tried to make about the economy: “Look at these abstract metrics disconnected from your lived experience, they say that the economy is great!”

    But thats irrelevant if the most reliable form of data I have, my lived experience, disagrees with it. The reality is I live in an old house and it needs some serious repairs. I have to put some of them off because the cost of materials is just ridiculous, let alone trying to find contractors to do work at anything less than robber baron prices.

    • JWBananas@lemmy.world
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      1 year ago

      You probably have to look at the price that Home Depot is paying for it, not the price they’re charging you.

      • dual_sport_dork 🐧🗡️@lemmy.world
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        1 year ago

        Why would I or anyone else give a flying fuck what Home Depot paid for the lumber they’re selling me? I can’t buy it at their price; I have to buy it at whatever retail price they (or Lowes, or Ace, or TrueValue, or 84, or whoever…) have set.

        If the wholesale price of lumber – which is not accessible to normal people – has fallen but the retail price is still high, all that means is that these retailers are price gouging which is exactly what the original commenter was talking about.

        • JWBananas@lemmy.world
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          1 year ago

          Whoa there, I was just trying to make sense of the discrepancy.

      • TropicalDingdong@lemmy.world
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        1 year ago

        Again. Think about what you are asking.

        You are asking me to make some additional abstraction beyond my lived experience. When you ask me to do that, what does that do to my confidence in your rhetoric?

        • JWBananas@lemmy.world
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          1 year ago

          I was just trying to make sense of the numbers. We are all acutely aware of the retail price gouging.

      • pearsaltchocolatebar@discuss.online
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        1 year ago

        Yeah, those prices are based on wholesale.

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