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What cracks me up he goes on and on about how owning is a terrible investment that has had a traditionally low return, then completely forgets to mention that renting has no return on capital at all, none, zip, nada. What a fruitcake. He also looks young enough to be living with his parents!
I won't buy a home either. I'll build my own home, literally.
The notion that a home is an investment is foolish and has caused many of our current problems. A home is precisely that: a home. I fail to see where a place you don't own and have no control over and generally little privacy, on top of the fact that you may be forced to leave at the whim of the owner, can ever truly be a "home" to a person. Renting is foolish unless you're in a place only temporarily or trying out a new location. But then it seems people are largely stupid, lazy, anti-self-reliant, materialistic and short-sighted. I've often told people around me the following: I'd rather own a one room cabin I build for next to nothing on a few acres, than to rent a mansion. If people would buy or build what they could afford instead of feeling they need another 5,000 square feet and the latest gadgets, we wouldn't be in the mess we're in economically.
Bascailly not everyoen can afford a home,. Historically homeownership has been baut 65% accordig to governamnt and gotten larger in recent years until the crisis.
Easy now - when I hit lotto while renting, I'll have gotten rich while renting. Wait... we're all rich on an anonymous internet forum. So, check that. I'm already rich.
It's not hard to make a case against buying for profit. It's like picking on your little Sister. Not a fair fight. The title speaking in absolutes makes me not want to even read it. "Why I may never own a home again" might get a click from me.
Easy now - when I hit lotto while renting, I'll have gotten rich while renting. Wait... we're all rich on an anonymous internet forum. So, check that. I'm already rich.
It's not hard to make a case against buying for profit. It's like picking on your little Sister. Not a fair fight. The title speaking in absolutes makes me not want to even read it. "Why I may never own a home again" might get a click from me.
What cracks me up he goes on and on about how owning is a terrible investment that has had a traditionally low return, then completely forgets to mention that renting has no return on capital at all, none, zip, nada. What a fruitcake. He also looks young enough to be living with his parents!
If one leads a lifestyle where one is a rolling stone who gets restless every few years and just has to go somewhere else then renting makes that easier because an expensive asset like a house is going to be harder to get out of.
In addition, if your neighborhood starts going bad and you're a renter you just move. This isn't so easy to do when you're a homeowner.
HOWEVER, let's look at Las Vegas, where housing prices are now below rental parity. If you just gotta live in Vegas and you want to do it for at least ten years then it is more financially prudent to buy and you have more control over your living environment (for example, if something needs to be repaired you know it will get done because you will have to do it yourself). Beats paying into the landlord's mortgage or his profits (if he owns his property free and clear). When you rented you were already paying for your landlord's property tax, sewer and garbage and insurance. So that part of it is all a wash anyway.
But again, if your neighborhood begins to "transition," as the pc euphemism has it, then you may find yourself in a position where you're screwed. Like in all things in life, these decisions have to be carefully weighed and managed.
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