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allegedly (lemmy.ml)
submitted 3 months ago by to c/onehundredninetysix@lemmy.blahaj.zone
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[–] 2 points 3 months ago (1 child)

... 'Building Equity' and 'Investment' are basically the same thing, twice.

Also, given the ongoing housing market collapse in most of the US: lol.

If you rented the median apartment for the last 15 years, instead of paying for a median home mortgage, and put the difference, the savings, into say the stock market?

Your investment would be doing better, on average.

Also oops your homeowners insurance went up by 50% in a year, now your escrow is underfunded, turns out you now live in a flood/fire/hurricane zone, yay climate change!

Yes, very much stability and freedom to personalize in your HOA, which has basically a 90% chance of being a completely corrupt embezzlement/fraud scheme.

Oh and don't forget that you have to pay for all maintenance, your insurance will do its damndest to pay for nothing, and maybe your home built in the last 10 years is just a pile of garbage that you didn't get an independent inspector to check out for flaws before you bought it.

... but yeah its not good to pour oil down your drain, thankfully the ability to have some mason jars or something to pour it into is not exclusive to homeowners.

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  • [–] 3 points 3 months ago (2 children)

    That one about investing the savings is horse shit. Apartment rent these days is essentially the same cost or more of just buying. Plus, at the end ofnthe say, you still don't have a home. Your saved stock market money still won't be enoughto ever buy one because pricing is inflated now. Plus, you are retiring and don't have a place to love because you have no income to pay rent with.

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  • [–] 1 point 3 months ago (1 child)

    No, buying is more expensive, that's why people rent. That down payment would be a huge initial investment. Once you're old and your portfolio has grown, you can pay rent anywhere in the world, not just where you earned the house.

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  • [–] 0 points 3 months ago*

    No, it isn't.

    You don't have a home if you get forced into foreclosure either.

    You can live a whole life not owning a home.

    Over the last 15 years, a 401k you're making steady contributions to, from the gap between then median home mortgage and median rent, that returns more than all the total costs that go into homeownership, and the home's appreciation.

    Yeah, this isn't true everywhere, housing markets are local and regional.

    But broadly, what I've said is true.

    I'd show you the math, but you've already made up your mind, and you're arguing about switching to this strategy now, which is a totally different discussion... so you probably wouldn't be able to keep the math straight anyway.

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