Re:Housing Can’t Be Both Affordable and a Good Investment (2...
by snowwrestler on Thursday May 02, 2019 @10:12AM
(#19808077)
The article the GP posted (which I read in its entirety) is rambling clickbait.
If there's a long list of situations in which owning is less expensive than renting, it is intellectually dishonest to then assert that they cost the same.
The key mental breakthrough for understanding homeownership is that it's just like renting, except you are the landlord as well as the renter. So if you can imagine a bunch of different ways in which a landlord makes money with a rental property, then you can start to imagine situations in which homeownership will be better than renting for you.
You can buy foreclosures, short sales, estate sales, or just contact someone to buy their house.
You can hold property for the benefit of inflation-protected wealth preservation (in fact, this is one of the main ways homeownership helps build wealth).
You can speculate on potential appreciation (in fact, many people do this when selecting where to buy).
You can inherit property, or (more under your control) you can pass property on to your children.
You can hold a piece of property for decades, pay off the mortgage, and enjoy the greater cashflow--in your case, from income that would have gone toward rent.
If there's a long list of situations in which owning is less expensive than renting, it is intellectually dishonest to then assert that they cost the same.
The key mental breakthrough for understanding homeownership is that it's just like renting, except you are the landlord as well as the renter. So if you can imagine a bunch of different ways in which a landlord makes money with a rental property, then you can start to imagine situations in which homeownership will be better than renting for you.
You can buy foreclosures, short sales, estate sales, or just contact someone to buy their house.
You can hold property for the benefit of inflation-protected wealth preservation (in fact, this is one of the main ways homeownership helps build wealth).
You can speculate on potential appreciation (in fact, many people do this when selecting where to buy).
You can inherit property, or (more under your control) you can pass property on to your children.
You can hold a piece of property for decades, pay off the mortgage, and enjoy the greater cashflow--in your case, from income that would have gone toward rent.
Etc.