Re:Home ownership is the West’s biggest economic-policy mistake
by willcipriano on Tuesday April 20, 2021 @08:40AM
(#26873764)
Here's what owning my home has meant for me.
I live in a high COL area, when I moved out when I was 20 rent was more than half of my income. I'd get raises but my rent would continue to climb. 5 years ago I bought a house, my rent stopped climbing. Now I can't even get a apartment for 125% of my mortgage and that is without a yard, with neighbors a half inch of sheet rock away, and no equity.
This means that while yes I still have to work, it isn't the end of the world that I get fired or miss a promotion. I no longer need to push hard to drive up my income like I did when I was in a apartment. So now I have more options, when a PM screws the pooch and misses a requirement I attend my daughters soccer game as planned instead of staying late.
I live in a high COL area, when I moved out when I was 20 rent was more than half of my income. I'd get raises but my rent would continue to climb. 5 years ago I bought a house, my rent stopped climbing. Now I can't even get a apartment for 125% of my mortgage and that is without a yard, with neighbors a half inch of sheet rock away, and no equity.
This means that while yes I still have to work, it isn't the end of the world that I get fired or miss a promotion. I no longer need to push hard to drive up my income like I did when I was in a apartment. So now I have more options, when a PM screws the pooch and misses a requirement I attend my daughters soccer game as planned instead of staying late.
If that isn't freedom I don't know what is.