Insane property rent prices are rich people just waste their money ?

[jostorres]

Your point is very solid about the reality of life and its true that peoples are different from each other according to thinking and life styles in same other manners like a life of a luxurious apart person is totally different from from a simple gay who struggling with basic need. For a wealthy individual reputation and comfort is main priority but for a poor gay food and other basic needs are the Goal of entire life so when these standers becomes equal then its may look like a disaster because expectations can be destroyed. So its exactly match the Abraham's theory whos conclusion is that after fulfill of one need people bends towards higher like respect so if there expectations may damage then its hearts them deeply because its not related to money actually its link with mindset. So if success and status is the mindset of a individual then a little stroke can hearts deeply.

There are different classes. There are some people who make $30k a year while others might make $30Mn a year. Both will be standing in totally different places. The ones making $30Mn a year will not even care if they have 10's of such properties lying around for which they actively pay rent. They can just write these expenses off their books. But for those who make $30k a year, budgets are going to be very strict.

Spending on rent will be close to 50% of their total earning so they have to choose a place very wisely here. A bad decision can make them spend a couple of months or years in a really bad financial shape. The ones who are leading the race have much easier life and ones left behind are still trying to win. Their efforts and dedication will decide if they will win in the future. Until then, hard work continues.

[Findingnemo]

No one is stupid to pay an amount that is over the market price as rent and if people are paying insane amount as rent then the property value is on the higher side as well and located in a prime location. I am not someone who think that I need to be in the middle of the city and I am okay with travelling few more minutes to reach what I want instead of paying 2 or 3 times of what I could pay in other places.

[Samlucky O]

Now we look property rent prices very expensive ones yet there is a lot demand from wealthy people even the prices are grazy high.
What's the catch ? Places like new york london or monaco people are happpy to pay for rent in month 10k and that's just low.
Now if you pay 10k month its a 10k x 12 = 120 000 in year. So basecly people are happy to just throw away over 100k in one year.
And in monaco paying 30k $ for rent its very normal that's huge money what people are happy to just waste imagine you just waste every month 30k $ in one year you just waste 360k $ wich you can use to buy or even build house or property.



What are this ? Whats wrong with rich people ? Why they hate money?

It's not a Matter of what is wrong with Rich people or not, the truth is that not every rich man or woman spend money on rent instead of building a house. Most rich guys sees building of house as a priority and a necessity, but some don't care, they keep on procrastinating and expecting to receive a huge some of money before they will build house for themselves without knowing that the money they spend on rent each month sum up together in a Year will even be enough to build house. This is just one of the problem that people face but didn't realize how small small amount can give rise to such amount.

[bangjoe]

No one is stupid to pay an amount that is over the market price as rent and if people are paying insane amount as rent then the property value is on the higher side as well and located in a prime location. I am not someone who think that I need to be in the middle of the city and I am okay with travelling few more minutes to reach what I want instead of paying 2 or 3 times of what I could pay in other places.

Price usually goes hand in hand with quality, as with other luxury goods and/or has a function that is needed by the person interested, the person interested will pay whatever it takes to fulfill their needs, rich people don't care about price because they can afford it.
If it were me, I would also do that, if it was necessary, but if it wasn't necessary I would be better off using a method like yours so as not to incur more costs, even if it has to walk longer or the access and facilities are no better than that.

[Findingnemo]

No one is stupid to pay an amount that is over the market price as rent and if people are paying insane amount as rent then the property value is on the higher side as well and located in a prime location. I am not someone who think that I need to be in the middle of the city and I am okay with travelling few more minutes to reach what I want instead of paying 2 or 3 times of what I could pay in other places.

Price usually goes hand in hand with quality, as with other luxury goods and/or has a function that is needed by the person interested, the person interested will pay whatever it takes to fulfill their needs, rich people don't care about price because they can afford it.
If it were me, I would also do that, if it was necessary, but if it wasn't necessary I would be better off using a method like yours so as not to incur more costs, even if it has to walk longer or the access and facilities are no better than that.

We think that rich pays whatever money they are asked for but no, they also negotiate with many more things that can save them a lot of money too. They can even get the deal at lesser price and they will use full settlement as a cheatcode to make it done.

Actually the prices are inflated by the wanna be rich people, who work and spend their entire salary for that month and starts from zero the next month.

[Royal Cap]

What are this ? Whats wrong with rich people ? Why they hate money?

Actually many rich people rent on purpose because they don't want to deal with the hassle. When you buy a property, you have to deal with maintenance, taxes or legal issues. They save that time and invest it in their work or business which makes more money and time is their real asset. Another thing is that I think a lot of rich people don't need to stay in one place permanently. Their work, business and social circle are not all confined to one city. So they have the option to change cities whenever they want, to move to new opportunities. Buying a house limits that freedom.

[SquallLeonhart]

Rich people who are not too smart ends up putting their money into buying off property. Like putting up 100 million dollars to buy 500 houses makes absolutely no sense to me, but banks and rich people do that, or build something like that and then they try to rent that out.

I am sorry but all this does is to create more homeless people, or make sure that young adults who can't afford to buy their own houses yet, end up not being able to afford neither rent or now newly increased price of houses. Majority of the housing today is owned by either people who are 60+ years old, or just straight up big banks/wealthy people. So if we want to change that, we need to learn to stop paying them, find another way, like small places for a while. If they do not make money, they will stop doing it.

[Su-asa]

First of all, being rich means that they have money to dispense and whatever they buy is something that they can afford, it is only going to seem like a waste of money to those that are not up to their level financially. You need to understand that most rich people prefer to rent apartments because the kind of work that they do makes them travel from one place to another and because of this they don't see any reason to live in a permanent residence.

[bangjoe]

Price usually goes hand in hand with quality, as with other luxury goods and/or has a function that is needed by the person interested, the person interested will pay whatever it takes to fulfill their needs, rich people don't care about price because they can afford it.
If it were me, I would also do that, if it was necessary, but if it wasn't necessary I would be better off using a method like yours so as not to incur more costs, even if it has to walk longer or the access and facilities are no better than that.

We think that rich pays whatever money they are asked for but no, they also negotiate with many more things that can save them a lot of money too. They can even get the deal at lesser price and they will use full settlement as a cheatcode to make it done.

Actually the prices are inflated by the wanna be rich people, who work and spend their entire salary for that month and starts from zero the next month.

Some rich people actually always calculate their calculations at wholesale prices so that they can get cheap prices, but what is cheap for them is not necessarily cheap for us, because I quite believe that everything they do must be calculated with various conditions that they need in renting, or maybe there are some other considerations so they dare to pay quite expensively, and not for people who pretend to be rich so that their finances are burdened because of ridiculous decisions like that, it is the same as resetting the finances every month that they collect, they are people who pretending to be rich, and not knowing how to make decisions wisely, he doesn't want to be rich but wants more money to spend.

[Unknown Op]

Rich people who are not too smart ends up putting their money into buying off property. Like putting up 100 million dollars to buy 500 houses makes absolutely no sense to me, but banks and rich people do that, or build something like that and then they try to rent that out.

I am sorry but all this does is to create more homeless people, or make sure that young adults who can't afford to buy their own houses yet, end up not being able to afford neither rent or now newly increased price of houses. Majority of the housing today is owned by either people who are 60+ years old, or just straight up big banks/wealthy people. So if we want to change that, we need to learn to stop paying them, find another way, like small places for a while. If they do not make money, they will stop doing it.

Many rich people are trying to buy a property to take rent of that and they are doing investment in that. If they will invest more and more money in that they will get not huge amounts of money from that . People are trying to buy a property which is high in demand and if there will be more people will be interested in that then there will be more opportunity to make more money. Rich people have huge amount of money and they always think about Investment first because if they will save  money that is not best for them . Many properties are very costly and these are not giving profit to anybody because these are debt on these people. If they will sell these property it will not giving them any profit because buyers are not available in the market so far .

[Roseline492]

Rich people who are not too smart ends up putting their money into buying off property. Like putting up 100 million dollars to buy 500 houses makes absolutely no sense to me, but banks and rich people do that, or build something like that and then they try to rent that out.

You have to no what they could earn after buying 500 houses, what you could actually think is the bad investment can actually be one of the investment that is building wealth. If the op could say that there is a country that cost people $10k for a month you would no how big is the investment, let's imagine the $10k for someone with 500 houses in the city, you will be making  $5,000,000 million every month, is there many investment that could give somebody this money every month?, we have not calculated this amount in the yearly terms, however another lucrative good thing about the business is that is one time permanent investment.

[justdimin]

First of all, being rich means that they have money to dispense and whatever they buy is something that they can afford, it is only going to seem like a waste of money to those that are not up to their level financially. You need to understand that most rich people prefer to rent apartments because the kind of work that they do makes them travel from one place to another and because of this they don't see any reason to live in a permanent residence.

Yet some people will prefer purchasing multiple properties at various locations so they can stay there when they visit that part for work. I believe most rich people will be buying properties instead of renting them. Rent can be useless as we have to pay a decent sum every month and that still does not make us a owner of anything. Instead purchasing the property and leasing it out to Airbnb or similar platforms can be much more profitable and we can even use the property for ourselves if we plan to visit that part of nation. For me, this is a really good investment option, and I would always go for purchasing the property instead of paying huge rents.

Yes, as you said, rich people have a lot of money so they will not mind wasting some on rents. The reason I think these rich people prefer renting apartments instead of owning those is they get multiple options. Per say, they can switch the apartment every month by paying the same amount which makes them experience different lifestyles.

[Cheema02]

Rich people who are not too smart ends up putting their money into buying off property. Like putting up 100 million dollars to buy 500 houses makes absolutely no sense to me, but banks and rich people do that, or build something like that and then they try to rent that out.

I am sorry but all this does is to create more homeless people, or make sure that young adults who can't afford to buy their own houses yet, end up not being able to afford neither rent or now newly increased price of houses. Majority of the housing today is owned by either people who are 60+ years old, or just straight up big banks/wealthy people. So if we want to change that, we need to learn to stop paying them, find another way, like small places for a while. If they do not make money, they will stop doing it.

Your point is based on reality and its true that rich people and also banks have a lot of assets so they can easily buy houses and but for a normal guy its a very difficult task because day by day inflation increases so young people struggling to purchase it and its look just unequal. But actual problem is not only wealth or investors because some times government loss control on prices due to some extreme conditions so temporally its difficult to build houses for any one so the solution is to build under budget houses like small and affordable for normal persons so its brings  genuine changing and for this government needs some polite behavior.

[GeorgeJohn]

Now we look property rent prices very expensive ones yet there is a lot demand from wealthy people even the prices are grazy high.
What's the catch ? Places like new york london or monaco people are happpy to pay for rent in month 10k and that's just low.
Now if you pay 10k month its a 10k x 12 = 120 000 in year. So basecly people are happy to just throw away over 100k in one year.

Rent are expensive currently, depending the location you're, they're some certain places in a country you reside rent's are not expensive compare to other region...i want to know if the 10k monthly payment for rent, is on dollars or is for another country currency...

And in monaco paying 30k $ for rent its very normal that's huge money what people are happy to just waste imagine you just waste every month 30k $ in one year you just waste 360k $ wich you can use to buy or even build house or property.

You need to know the specifics monthly rent is this locations...I think you're exaggerating on the prices of house rent over there...

[Asuspawer09]

I mean if the prices of the renting houses was just too high in a place there was no one going to rent that place since it was going to be a very unfair price for some people even for rich people they might see it as unfair compared to other prices in the market, because they are going to atleast find a better deal or do some canvas atleast right? So if people are getting that 30k$ per month, it doesnt matter, that just means that it is the right price on those places since there is still a good demand even at that market price. If someone is interested and taking that 30k$ deal that means the demand was high and it is somewhere that prices is the actual price of it, if you put 100k$ in rent and no one rent it then it might be overprice right, it is just going to depend on how eager the renter is going to want it, maybe its a good city that have a lot of jobs or close to a lot of companies right, then for sure there will be a lot of demand on that area since there are a lot of employees going to be interested the higher the demand the higher the price it's going to be.

So for me it's not like 30k$ was a very high amount of money, it is just on a right demand maybe for some good reasons why the prices there was high, And even though it was a fair prices, talking about renting and owning a house is going to be a different story for sure, Renting and owning have its own difference and there are disadvantages and advantages of it as well, I wouldnt say renting was a bad idea because it might be better deal because it is a partial payment depending on your situation, or maybe you might just want to save up for a good house instead of getting a morgage house.