Quote:
Originally Posted by pepper24
If you sell high, your next place is high. If you sell low, your next place is low. Net sum game technically assuming you need a place to live. Add in real estate costs, up-keep, property taxes, compound interest over amortization etc. and it's a negative game.
That's why I cringe when people say that buying a home is a great investment. It's a necessity and an investment in your lifestyle but financially there are much better investments.
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Buying a house is a great inflation hedge.
I really have no idea how people can say that renting is better. Over the long term rents always go up. Renters still pay maintenance and taxes. Renters pay rent forever. You're subject to the capriciousness of a landlord.