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I'm going to rent here, after I rent my house out that I paid 18,500 cash for at 625 per month. J & A - Apartment | Chiang Rai Thaiapartments 100 Dollars per month--very low crime.
Equity? Based on this post, I think you might have missed the whole point of home ownership?
Sure seems that way. Regardless of appreciation, even if prices stay flat for a decade, a home owner can still sell the property and reclaim liquid equity. A renter cannot.
Sure seems that way. Regardless of appreciation, even if prices stay flat for a decade, a home owner can still sell the property and reclaim liquid equity. A renter cannot.
Even if prices were to fall, there is still a chance that a home owner will have equity in their property. Or at least they won't be losing equity at the same rate per month as their monthly rent would be. Of course that is still a risk, but a risk that I would take every time.
Pretend prices stay the same for 30 years, you still have full equity.
maybe i haven't made myself clear...if i do buy, it'd be a cash purchase (hence the reason why i included opportunity cost of cash [regular savings interest] in my computation).
so yes, if the price of the property stays the same for 30years, i still have full equity (actually how about the time value of money? other opportunity costs of money? inflation adjusted rate of return? depreciation of USD?). and if i don't buy, i also still have full equity right?
so the only benefit of home ownership, in my case, is the $70/month that i save which is likely to go towards other longer term home ownership costs (i.e. sinking fund for bigger home fixes?).
if i'm not optimistic about the property market in the short/medium/long term....personally, i don't see any reason why i should trade liquidity for that $70 savings every month.
so the only benefit of home ownership...
if i'm not optimistic about the property market...
maybe no one else in the 60+ other posts of this thread have made themselves clear either...
there are a few caveats being rather deliberately ignored by this sort of contrarian assessment
so, one more time:
if you aren't solidly connected to the area by family or work commitments...
if you have any reasonable expectation you'll move on within 5 years...
if you don't WANT to stay put anywhere for more at least 10 years
then just don't buy (at any price).
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