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A comment on Why the New American Real Estate Dream Is Renting. Parent comment
Here's an article that explores this argument: http://www.smartmoney.com/personal-finance/real-estate/renti...
Basically, take the "never rent" piece of advice with the same amount of skepticism that you would any other piece of advice that begins with "never."
Summary: average annualized return on investment on owning a home barely beats inflation, dating back way, and that's including the boom times.
Average return on investing in businesses (i.e. the stock market, your own startup), is a much better place to put your money.
Not saying there is no reason to buy a house, there are plenty. But never say never.
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Here's an article that explores this argument: http://www.smartmoney.com/personal-finance/real-estate/renti...
Basically, take the "never rent" piece of advice with the same amount of skepticism that you would any other piece of advice that begins with "never."
Summary: average annualized return on investment on owning a home barely beats inflation, dating back way, and that's including the boom times.
Average return on investing in businesses (i.e. the stock market, your own startup), is a much better place to put your money.
Not saying there is no reason to buy a house, there are plenty. But never say never.