#1550

I live in NYC. Rent is $1550 in our 1br (rent stabilized). Is it correct to assume perpetually renting is the right path?

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I live in NYC. Rent is $1550 in our 1br (rent stabilized). Is it correct to assume perpetually renting is the right path? My wife and I both live in NYC (32 and 27). We gross $180k. We started renting our apartment in 2018. Rent then was around $1400. It’s a rent stabilized apartment so our rent only goes up 3% a year. It actually hasn’t gone up since 2021, and we currently pay ~$1550 per month. We put around 30% of our earnings into 401k+RothIRA (pure S&P 500). We…

Reddit Personal Finance 485 2024-04-23