Housing: A Place to Live or a Commodity for Profit? (premium, examples)
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Every income property is someone else's outgo property.
I have 23. I provide housing for others in exchange for a fee in line with market rates which includes a certain amount of profit for me. Where's the problem?
For people unable to own their home, don't they pretty much have a negative stake?
They have to live somewhere, don't they? If renting is less expensive than buying, it may be their preferred option - the other being residence under an overpass. They have a choice.
If you are concerned with the best return on your money, you should buy the least expensive housing possible. Since most people spend much more money than they need to, they are actually choosing lifestyle over money.
I do not view my home as an investment, because it is not. My home is about comfort, lifestyleand even a touch of vanity.
Many slumlords disagree. Low-end housing generally has higher ROI than high-end housing.
No. Not if they invest the savings. People typically rent less house than they buy. If they invested the difference, many would come out ahead of the increase they would have realized in home value.
And just like renting, the cost of home ownership never ends. Taxes, insurance, repairs etc. guarantee that a house will always cause cash outflow.
For people unable to buy a home, or to invest elsewhere, don't they pretty much have a negative stake? And both taxes and insurance are generally higher on rental property than on owner-occupied homes. And every income property is someone else's outgo property,.
They have to live somewhere, don't they? If renting is less expensive than buying, it may be their preferred option - the other being residence under an overpass. They have a choice.
IF renting is less expensive than owning - last I looked, renting was more expensive than owning in 48 of the top 50 U.S. housing markets. While it is the norm for owning to be the preferred option of homeowners, it is not the norm for renting to be the preferred option of renters. Rent serfs effectively don't have meaningful options.\
I have to live somewhere. I'd like to live in a small affordable hovel. Why don't I have that option?
I have 23. I provide housing for others in exchange for a fee in line with market rates which includes a certain amount of profit for me. Where's the problem?
In line with market rates rigged by NIMBY homeowners who use government to restrict the supply for their own fun and profit.
Investments which pay negative dividends (like houses) are generally not good investments.
The overwhelming majority of Americans who have a choice - choose to OWN their home. For them, the psychic benefits of owning a home are nonnegotiable.
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