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At least in New York, the setbacks as you go up in a building was to allow sunlight to the street, which was important in the days prior to neon New York you see today.
??? I consider NOT owning your home FAR on being far riskier than owning it.
Not owning puts you at risk of rent increases every year, not to mention being at risk of displacement every year, with or without cause. I'd bet you won't find many long-term renters who come out better off than if they had bought; the net worth data show that the net worth of homeowners is thousands of times greater than the net worth of renters.
Only someone that has never owned a home would make such a foolish statement.
The up keep on homes is very costly......even on new homes.
If the upkeep is so costly, why do homeowners have vastly greater median net worth than renters?
It's easy to mitigate a lot of the cost when you do the work yourself, that's why there is a large DIY industry out there.
Because they are older, have higher incomes, have more stable employment, and have better credit. They aren't wealthy because they own, they own because they are wealthy.
I am at a loss why anyone can not understand that.
Since you seem to be fixated on an investment meme...'t
Don't we all invest one way or another? The rent I pay is an investment in the shelter that facilitate a good night's sleep which allows me to go to work without fatigue. (At one time I slept in my car for several weeks, and went to work tired.)
We all generally seek to optimize our cash flow and our wealth. Renters can't optimize their cash flow when it costs more to rent than to own, and can't optimize their wealth because renters lose everything and get ROI = zero or is it negative?
And isn't it ironic that your neighbors have made it harder for people to 'invest' in homes in your township, and then you say those renters (whom you have shut out) have not made an investment.
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