{"id":77894,"date":"2023-04-01T01:15:32","date_gmt":"2023-04-01T08:15:32","guid":{"rendered":"https:\/\/lenpenzo.com\/blog\/?p=77894"},"modified":"2023-04-04T07:23:36","modified_gmt":"2023-04-04T14:23:36","slug":"black-coffee-1-apr-2023","status":"publish","type":"post","link":"https:\/\/lenpenzo.com\/blog\/id77894-black-coffee-1-apr-2023.html","title":{"rendered":"Black Coffee: Bucking the System"},"content":{"rendered":"

\"\"It’s time to sit back, relax and enjoy a little joe …<\/em><\/p>\n

Welcome to another rousing edition of Black Coffee, your off-beat weekly round-up of what’s been going on in the world of money and personal finance.<\/p>\n

I\u2019ve got another busy weekend ahead of me, so let’s get right to this week\u2019s commentary …<\/p>\n

The few who understand the system will either be so interested in its profits or be so dependent upon its favors that there will be no opposition from that class. On the other hand, the great body of people … will bear its burdens without complaint, and perhaps without even suspecting that the system is inimical to their interests. <\/em><\/p><\/blockquote>\n

– Mayer Amschel Rothschild<\/strong><\/p>\n

Credits and Debits<\/strong><\/p>\n

Debit:<\/strong><\/span> Did you see this? All indications are that the math remains truly daunting<\/a> for prospective American homebuyers, as the difference between a mortgage payment and rent is the largest it’s been since the 2006 housing bubble. How big is it? Well … on average, a 30-year fixed-rate mortgage payment on a newly-purchased home with a 10% down payment now costs a staggering $1176 more than renting an apartment. Then again, renting an apartment isn’t a great deal either these days – in fact, renting a place of your own is at least $1000 more per month than living for free in Mom & Dad’s basement.<\/p>\n

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Debit:<\/strong><\/span> The current financial attraction of renting an apartment over purchasing real estate becomes even clearer when you realize that the cost of owning a home has soared 71% over the past three years<\/a> – that’s an average of about 20% per year, compared to the average annual rent increase of 6.3% over the same period. That’s not to say there aren’t any hidden gems waiting to be found …<\/p>\n