Renting vs Buying a Home: How to Decide

Video Description

Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Making the housing decision requires careful consideration of both the financial and non-financial impacts, and the way that they interact with each other. There is no universally right way to approach housing. In many cases, contrary to conventional wisdom and societal pressure, renting is a better option than owning, both financially and from the perspective of subjective well-being. Referenced in this video: Extrinsic Value Orientation and Affective Forecasting: Overestimating the Rewards, Underestimating the Costs https://sdtheory.s3.amazonaws.com/SDT/documents/2010_SheldonGunzNicholsFerguson_JOP.pdf Does the Dream of Home Ownership Rest Upon Biased Beliefs? A Test Based on Predicted and Realized Life Satisfaction https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3660256 The American Dream or the American Delusion? The Private and External Benefits of Homeownership for Women https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1877163 Homeownership and Happiness: Evidence for Switzerland https://digitalcollection.zhaw.ch/bitstream/11475/18640/3/2019_Hofmann-Umbricht_Homeownership-and-happiness-Switzerland_SREJ.pdf The relationship between homeownership and life satisfaction in Germany https://www.econstor.eu/bitstream/10419/51372/1/672468557.pdf Is a Fixer-Upper Actually a Downer? https://www.tandfonline.com/doi/full/10.1080/10511482.2017.1367317 If Money Doesn't Make You Happy Then You Probably Aren't Spending It Right https://scholar.harvard.edu/files/danielgilbert/files/if-money-doesnt-make-you-happy.nov-12-20101.pdf The relative relativity of material and experiential purchases https://pubmed.ncbi.nlm.nih.gov/20053039/ The McMansion Effect: Top House Size and Positional Externalities in U.S. Suburbs https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3378131 Book: Happy Money https://dunn.psych.ubc.ca/book-happy-money/ Shelter in the Canadian CPI: An overview https://www150.statcan.gc.ca/n1/pub/62f0014m/62f0014m2017001-eng.htm Theory of Homes and Jobs https://warwick.ac.uk/fac/soc/economics/staff/ajoswald/homejobs.pdf ------------------ Follow Ben Felix on - Twitter: https://twitter.com/benjaminwfelix - LinkedIn: https://www.linkedin.com/in/benjaminwfelix/ Visit Rational Reminder: www.https://rationalreminder.ca/ Follow the Rational Reminder on: - Twitter: https://www.twitter.com/RationalRemind Visit PWL Capital: https://www.pwlcapital.com/teams/passmore-felix/ Follow PWL Capital on: - Twitter: https://twitter.com/PWLCapital - Facebook: https://www.facebook.com/PWLCapital - LinkedIn: https://www.linkedin.com/company/pwl-capital/ You can find the Rational Reminder podcast on Google Podcasts: https://www.google.com/podcasts?feed=aHR0cHM6Ly9yYXRpb25hbHJlbWluZGVyLmxpYnN5bi5jb20vcnNz Apple Podcasts: https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582?mt=2 Spotify Podcasts: https://open.spotify.com/show/6RHWTH9iW7hdnA7eAg7ukO?si=hjZNfLKuSjSeWX38GPqhVA ------------------