租房比买房更明智的时候

假期里，我和家人要去佛罗里达看望我的岳父母。

For the holidays, my family and I are headed to Florida to visit my in laws.

对我来说，让女儿认识她的大家庭并有机会与他们共度时光非常重要。

It is super important to me that my daughter knows her extended family and has the opportunity to spend time with them.

虽然我们只是从一个温暖的地方搬到另一个温暖的地方，但我知道我们依然能感受到与亲人团聚的温馨节日氛围。

While we're leaving one warm ZIP code for another, I know we'll still be getting that cozy holiday feeling of being with loved ones.

不那么温馨的部分是三个人飞越全国的费用。

The not so cozy part is the cost of flying three people across the country.

我知道每年这个时候很多人都有同感。

I know a lot of us are feeling that this time of year.

开销增加得很快。

The costs add up fast.

这就是我喜欢在Airbnb上出租房子的原因。

That's why I love hosting my home on Airbnb.

这是我们在外出时赚取额外收入的简单方法，而这些额外收入可以帮助支付我们的下一次旅行费用。

It's an easy way to bring in some extra income while we're away, and that extra cash can help fund our next trip.

假设你计划了一次长途旅行，或是想去世界某个温暖的地方，在海滩上远程办公。

Let's say you have a big trip planned or are escaping to a warmer part of the world to work from the beach.

既然房子可以为你赚钱，为何要让它空置着无人问津呢？

Why leave your home sitting empty and dark when it could be making money for you?

今年，得益于爱彼迎的协管网络，出租房屋变得比以往任何时候都更容易。

This year, it's easier than ever to host your home thanks to Airbnb's cohost network.

通过协管网络，你可以雇佣当地的协管员在你外出时照看房屋和接待客人。

With the cohost network, you can hire a local cohost to take care of your home and your guests while you're away.

协管员能包办一切：创建房源信息、处理入住手续、提供现场支持，让你在外出时无需担心房屋和客人的照料问题。

A cohost can do it all, create your listing, handle check ins, provide on-site support, and give you peace of mind that your home and guests are being taken care of while you're away.

所以如果你一直考虑出租却不知从何入手，可以到airbnb.com/host寻找协管员。

So if you've been thinking about hosting, but you don't know where to start, find a cohost at airbnb.com/host.

各位财务康复者们，如果今天的节目你只能记住一件事，那就记住这个吧。

If you take only one thing away from today's episode, money rehabbers, let it be this.

恕我直言，Public是投资债券、股票、ETF、期权甚至加密货币的最佳经纪平台。

In my not so humble opinion, Public is the best brokerage for investing in bonds, stocks, ETFs, options, and even crypto.

你可以亲自试试，在public.com/moneyrehab上看看我为什么如此喜爱它。

You can try it out for yourself and see why I love it so much at public.com/moneyrehab.

Public确实是我购买债券唯一使用的平台。

Public is legit the only platform I use to buy bonds.

在使用Public之前，我过去总是用最麻烦的方式购买政府债券。

Before Public, I used to buy government bonds the hard way.

缓慢的网站、混乱的界面、设计风格还停留在2000年代初。

Slow websites, confusing interfaces, website designs straight out of the early 2000s.

想象一下乐趣消失殆尽的地方。

Just picture where fun goes to die.

就是那样。

That was it.

然后五年前我发现了Public，从此再没回头。

And then I found public about five years ago, and I have not looked back.

现在我终于可以购买债券而不用抓狂了。

I can now finally buy bonds without wanting to rip my hair out.

Public让债券购买变得如此简单。

Public makes it so easy to buy bonds.

无论你是想买国债还是企业债，都可以直接在手机上浏览数千种选择。

Whether you're into treasuries or corporate bonds, you can browse thousands of options right from your phone.

但就像我说的，Public不仅仅只有债券。

But like I said, Public isn't just all about bonds.

你还可以找到股票和ETF，他们提供年利率4.1%的高收益现金账户，这比全国平均水平还高。

You can also find stocks and ETFs, and they offer a high yield cash account with a 4.1% APY, which is higher than the national average.

他们甚至还有退休账户。

They even have retirement accounts.

你现在可以直接在Public上开设传统IRA或罗斯IRA，或者两者都开。

You can now open a traditional or Roth IRA or both right on public.

这样你未来的养老就有保障了。

So your future self covered.

在限时活动期间，你所有的IRA存款、IRA转账和401k转存都能获得1%的匹配奖励。

And for a limited time, you can earn a 1% match on all your IRA deposits, IRA transfers, and four zero one k rollovers.

如果你想获得既聪明又简单的投资体验，请访问public.com/moneyrehab。

If you want an investing experience that's both smart and simple, head to public.com/moneyrehab.

再重复一次，public.com/moneyrehab。

One more time, public.com/moneyrehab.

这是Public Investing的付费推广内容。

This is a paid endorsement for public investing.

完整披露条款和条件可在播客描述中查看。

Full disclosures and conditions can be found in the podcast description.

我是妮可·拉平，你唯一不需要查字典就能听懂的理财专家。

I'm Nicole Lapin, the only financial expert you don't need a dictionary to understand.

是时候来点财务康复治疗了。

It's time for some money rehab.

我要告诉你我个人理财领域最不认同的观点之一。

I'm about to tell you about one of my least favorite opinions in personal finance.

租房纯粹是在把钱往水里扔。

Renting is just throwing money down the drain.

每次听到这种说法我都忍不住翻白眼。

I wanna roll my eyes every single time I hear that.

你们可能听过我在节目中和房地产投资人保罗·马克·莫里斯辩论这个话题，但我想专门做一期节目，因为确实有很多值得深入探讨的内容。

You might have heard me debate Paul Mark Morris, the real estate investor, about this on the show, but I wanted to do an entire episode because there is honestly so much to dig into.

这个问题需要你真正追踪资金流向，不能盲目相信别人告诉你的所谓真理。

And it's a question where you really need to follow the money trail, and you can't just trust what's being told to you as gospel.

如果你是第一次收听本期节目，我强烈建议你在Spotify或YouTube上观看视频版。

And if you're just listening to this episode, I would highly encourage you to please watch on Spotify or on YouTube.

我们为本期节目制作了精美的动画图表，直观展示相关数据计算，我认为这样更容易理解。

We are animating this episode up with pretty graphics and actually showing you the math, which I always think is easier to follow.

在深入讨论之前，我想先声明：我并不认为买房对每个人都是正确的财务决策。

Before we dig into this, I just wanna give you a heads up upfront that I don't think buying a house is the right financial move for everyone.

对某些人可能是，但并不适合所有人。

It could be, but it's not for everyone.

事实上在目前的经济环境下，我认为买房对很多人来说反而是错误的财务选择。

And in fact, in this economy, I think buying a house is actually the wrong financial move for a lot of people.

但我会公平起见，先说说买房的一些好处。

But I will be fair, and I'll start with some cases for buying a home.

最重要的就是资产增值。

The big one is equity.

逻辑是这样的：与其每月把租金交给房东，不如买房通过所有权积累财富。

The logic goes instead of handing rent money over to a landlord every month, you buy a home and you build wealth through ownership.

理论上这完全说得通。

In theory, this makes perfect sense.

每笔房贷还款都会减少贷款余额，随着时间的推移，你对房屋的所有权比例会越来越高。

Each mortgage payment you make chips away at the loan balance, and over time, you own more and more of your home.

然后在三十年后或房贷还清时，你就完全拥有了自己的房子。

And then after thirty years or whenever your mortgage ends, you own your home.

从此过上幸福的生活。

The end happily ever after.

再也不需要还房贷了。

No more mortgage.

再也不用为房子支付月供了。

No more monthly payments for your home.

然后你就拥有了这个可以抵押贷款的重要资产。

Then you've got this big valuable asset that you can borrow against.

你可以把它传给后代，或者希望以盈利的价格出售。

You could pass it down or you could sell hopefully for a profit.

还有一点很棒的是，你的房贷利息可以抵税。

It's also pretty cool that the interest on your mortgage is tax deductible.

我确实喜欢能获得的任何税务减免。

I do love a tax deduction where I can get it.

如果你办理的是固定利率贷款，你的月供将保持不变。

And if you do have a fixed rate mortgage, your monthly costs will be constant.

如果是租房，房东可能会每年涨租或随通胀调整租金。

If you're renting, your landlord might be able to raise your rent annually or just keep pace with inflation.

有了房贷，你的月供不会随通胀上涨，这点我们很喜欢。

With a mortgage, your monthly payments won't rise with inflation, and we love that.

但这只是故事的一半。

But that is only half of the story.

让我们来谈谈股权的另一面。

Let's talk about the other side of equity.

当你卖掉房子时，你无法拿回所有的钱。

You don't get all your money back when you sell your house.

也就是说，买房时你也会损失一些钱。

AKA, you do throw some money away when you buy a house too.

买卖房屋时都有成交费用，可能达到房屋价值的6%到10%。

There are closing costs when you buy and when you sell, which can run six to 10% of the home's value.

你还要支付房产税、房屋保险和按揭利息，其中利息大部分集中在还款前期。

You've got property taxes, homeowners insurance, and interest on your mortgage, which is heavily front loaded.

还有维修费、保养费，可能还有永远无法收回的业主协会费。

There's also repairs, maintenance, maybe HOA fees that you never get back.

在所有这些问题中，最让我震惊的是按揭利息部分。

The interest on the mortgage is a piece of all of this that blows my mind the most.

如果你购买一套50万美元的房子，首付20%并按当前平均利率计算，仅利息一项你就要支付超过40万美元。

If you buy a $500,000 home and you put 20% down with the current average interest rates, you're gonna be paying over $400,000 on interest alone.

所以你50万美元的房子实际上会让你花费近90万美元。

So your $500,000 house will actually cost you more like $900,000.

就像我说的，房贷利息可以抵税，这确实是非常棒的事情。

And like I said, interest on your mortgage is tax deductible, and that is a beautiful, beautiful thing.

但这并不意味着这是免费的钱。

But that does not make it free money.

事实上，这真的非常昂贵。

In fact, it's really freaking expensive.

而且利息因素会打乱你整个资产积累计划，因为在房贷的第一年，利息是前置收取的。

And the interest factor will throw a wrench in your whole equity building thing because in the first year of your mortgage, the interest is front loaded.

还是以50万美元的房子为例，五年后你将支付超过13.3万美元的利息，但本金只减少了2.6万美元。

So using the same example of the $500,000 home, after five years, you'll spend more than $133,000 in interest alone, but you'll only pay down 26,000 in principal.

所以尽管写了整整五年的支票，你实际上积累的资产却很少。

So despite writing checks for five whole years, you've actually built very little equity.

所以如果你梦想着这套50万美元的房子能快速转手、几年内获利，我很抱歉，但这里的数学计算可不是闹着玩的。

So if you had a dream of this $500,000 home being something you could flip really quickly and turn a profit on in a few years, I'm so sorry, but the math there is not nothing.

但假设你对整件事感到失望，决定转而投资你的储蓄。

But let's just say you became disenchanted with this entire thing and you decide to invest your savings instead.

如果你把原本用于首付的10万美元投入股市，按历史10%的年回报率计算，五年后可能增值到16万美元。

If you took that 100 k that you would have put toward the down payment and invested it in the market at the historical 10% annual rate of return, it could be worth a $160,000 in five years.

让我们更深入地追踪资金流向，因为我们刚讨论了股票增值，但房地产也会升值。

Let's follow the money trail here even deeper because we've just talked about how stocks appreciate, but real estate appreciates too.

最近这些年，哇，这完全应验了。

And lately, wow, it has totally been true.

我不能也不会否认这一点。

I cannot and will not deny it.

我见过很多人在过去五年里通过房产积累了真正的财富。

I've seen people build real wealth from their homes over the last five years.

但从历史数据看，美国房价每年仅上涨约4.5%。

But historically, US home prices only appreciate about 4.5% per year.

这不错，但比不上标普500的表现。

That's good, but it's not S and P 500 good.

标普500长期年均回报率约为10%，这种差异会随时间产生巨大影响。

The S and P 500 has averaged around 10% per year over the long run, and that difference adds up big time.

我们来做个简单的对比分析。

Let's just do a simple side by side comparison here.

假设你正在洛杉矶租房和买房之间做选择。

Let's say you're deciding between renting and buying in LA.

洛杉矶的平均月租金是3000美元。

The average monthly rent in Los Angeles is $3,000 a month.

洛杉矶的平均月供是5000美元。

The average monthly mortgage in Los Angeles is $5,000 a month.

假设你选择租房。

So let's say you rent.

通过支付平均租金而非平均月供，你每月能节省2000美元。

You're saving $2,000 a month by paying the average rent instead of the average mortgage.

所以你决定每月投资这笔钱，并且把那10万美金的首付款也投进去。

So you decide you'll invest that monthly, and you'll invest that 100 k down payment.

三十年后，你将拥有570万美元。

After thirty years, you'll have $5,700,000.

与此同时，如果你购买了一套50万美元的房子，在还完30年房贷后，你的房子会升值到约190万美元，这很棒。

Meanwhile, if you bought a $500,000 home, after your thirty year mortgage is paid off, your home will appreciate to about $1,900,000, which is awesome.

为你高兴。

Good for you.

但考虑到利息，你将为房贷支付超过90万美元，这意味着你的利润空间远低于投资所得。

But again, with interest, you'll have paid over $900,000 for your mortgage, which means that your margin is a lot lower than if you would have invested.

你将获得约100万美元的利润。

You'll have profited around a million bucks.

如果选择每月投资2000美元并租房，你将花费82万美元但能获得490万美元的利润。

In the case of investing 2 k a month and renting, you'll have spent $820,000 but made $4,900,000 in profit.

那么你更想要哪种结果呢？

So what would you rather have?

490万美元还是100万美元？

$4,900,000 or $1,000,000?

别误会我的意思。

Don't get me wrong.

我并不是说买房永远是坏主意。

I'm not saying that buying is always a bad idea.

如果你计划长期居住（至少5到7年，理想情况更久），买房是有意义的。

Buying can make sense if you plan to stay in the home for a long time, at least five to seven years, ideally longer.

或者当你的月均持有成本接近或低于租金时。

Or if your total monthly cost of ownership is close to or less than rent.

又或者你所在的市场租金急剧上涨，而购房能锁定稳定性。

Or if you're in a market where rent is rising sharply and buying locks instability.

最后，如果你就是想买房且负担得起。

Or lastly, if you just want to buy a home and you can afford it.

若它能给你带来稳定感，这种价值可能是无价的。

If it gives you the feeling of stability, that can be priceless.

买房不仅仅是一个财务决策。

Buying a home is not just a financial decision.

它是一种生活方式的选择。

It's a lifestyle decision.

稳定性和对个人空间的控制权很有价值，比如你可以随心所欲地粉刷墙壁。

There's value in stability and having control over your space and painting the walls whatever color you want.

但我们也需要深思机会成本，并且摒弃'租房等于浪费钱'的论调——事实上，租房能为你带来许多好处。

But let's also be thoughtful about the opportunity cost and also just retire the renting is throwing away money argument because, really, renting buys you a lot.

首先是住所保障：安全性、灵活性、无需应对突发维修账单、不用更换新屋顶、不必担心地基裂缝、没有房产税，而且保险费通常也更低。

Shelter for one, safety, flexibility, no surprise repair bills, no new roof to replace, no foundation cracks to worry about, no property taxes, and often lower insurance premiums.

这些都是房东需要操心的问题。

Those are all your landlord's problems.

租房保险比房屋保险便宜得多。

Renters insurance is a lot less than homeowners insurance.

我们不会说购买日用品是在浪费钱。

We don't say that we're throwing away money when we buy groceries.

对吧？

Right?

租金是在为一项服务付费。

Rent is paying for a service.

这项服务让你无需长期承诺就能拥有住所，通常经济负担也更轻。

The service of having a place to live without a long term commitment and usually a lower financial burden.

要知道租房并不是失败。

Just know that renting is not a failure.

它不是一个人生阶段，等你长大就会摆脱。

It's not a phase you grow out of.

这是一种合理的财务策略。

It's a valid financial strategy.

房主不仅要支付房贷。

Homeowners don't just pay a mortgage.

他们还要缴纳房产税、保险费、维修费、更换损坏的电器、庭院维护费等等诸多开支。

They pay for property tax, insurance, repairs, appliances that break, landscaping, and so much more.

租房者省去了所有这些开支，这意味着如果他们坚持这样做，就有更多资金用于投资和增值。

Renters skip all that, and that means they have more money to invest and grow if they stay consistent with it.

租房并非浪费金钱。

Renting is not wasting money.

它为你买来了选择权。

It's buying you options.

在金融领域，选择权具有非常强大的力量。

And in finance, optionality is very powerful.

《金钱康复》是Money News Network制作的节目。

Money Rehab is a production of Money News Network.

我是主持人妮可·拉平。

I'm your host, Nicole Lapin.

《金钱康复》的执行制片人是摩根·拉沃伊。

Money Rehab's executive producer is Morgan Lavoie.

我们的研究员是艾米丽·霍姆斯。

Our researcher is Emily Holmes.

你需要财务康复吗？

Do you need some money rehab?

说实话，我们都需要。

And let's be honest, we all do.

请将你的财务问题发送至moneyrehab@moneynewsnetwork.com，你的问题可能会在节目中得到解答，甚至有机会与我进行一对一干预。同时，在Instagram关注@moneynews，在TikTok关注@moneynewsnetwork，获取独家视频内容。

So email us your money questions, moneyrehab@moneynewsnetwork.com to potentially have your questions answered on the show or even have a one on one intervention with me, and follow us on Instagram at money news and TikTok at money news network for exclusive video content.

最后，谢谢大家。

And lastly, thank you.

不，

No.

我是认真的。

Seriously.

谢谢。

Thank you.

感谢你的收听，感谢你投资自己——这是你能做的最重要的投资。

Thank you for listening and for investing in yourself, which is the most important investment you can make.

假期里，我和家人要去佛罗里达看望岳父母。

For the holidays, my family and I are headed to Florida to visit my in laws.

对我来说，让女儿认识她的大家庭成员并有机会与他们共度时光非常重要。

It is super important to me that my daughter knows her extended family and has the opportunity to spend time with them.

虽然我们只是从一个温暖的地方搬到另一个温暖的地方，但我知道我们依然能感受到与亲人团聚的温馨节日氛围。

While we're leaving one warm ZIP code for another, I know we'll still be getting that cozy holiday feeling of being with loved ones.

不太温馨的部分是三个人飞越全国的费用。

The not so cozy part is the cost of flying three people across the country.

我知道每年这个时候很多人都有同感。

I know a lot of us are feeling that this time of year.

各项开支很快就累积起来了。

The costs add up fast.

这就是为什么我喜欢在爱彼迎上出租我的房子。

That's why I love hosting my home on Airbnb.

这是我们在外期间赚取额外收入的简便方式，这些额外收入还能帮我们支付下次旅行的费用。

It's an easy way to bring in some extra income while we're away, and that extra cash can help fund our next trip.

假设你计划了一次长途旅行，或者想去世界上更温暖的地方，在海滩边工作。

Let's say you have a big trip planned or are escaping to a warmer part of the world to work from the beach.

既然房子可以为你赚钱，为何要让它空置着无人问津呢？

Why leave your home sitting empty and dark when it could be making money for you?

今年，得益于Airbnb的联合房东网络，出租你的房子变得前所未有的简单。

This year, it's easier than ever to host your home thanks to Airbnb's cohost network.

通过联合房东网络，你可以聘请当地的联合房东在你外出时照看房子和接待客人。

With the cohost network, you can hire a local cohost to take care of your home and your guests while you're away.

联合房东能包办一切：创建房源、处理入住、提供现场支持，让你在外出时无需担心房子和客人的照料问题。

A cohost can do it all, create your listing, handle check ins, provide on-site support, and give you peace of mind that your home and guests are being taken care of while you're away.

所以如果你一直考虑做房东但不知从何开始，请访问airbnb.com/host寻找联合房东。

So if you've been thinking about hosting, but you don't know where to start, find a cohost at airbnb.com/host.