Quote:
Originally Posted by Cowboy89
I agree with the sentiment of your post but not with the last paragraph.
Even then in that scenario all your net worth is tied in one asset that's levered. This whole cultural belief that the first order of business of adulthood after landing a career is to own property is a problem. All a person should feel a need to do is put shelter above their head and aquire it in whatever method they see fit, buying or renting so they don't have to live in a cardboard box. We need to drop the stigma of buying is always better than renting, because in many cases it's not.
|
No I absolutely agree with you 100%. I was referring more to that particular situation brought forward, where the couple was going to buy a property.
Everyone has to weigh their situation differently. Right now for even for myself, I could likely get a condo similar to the apartment I'm renting right now, for near the same money. For those who want to live in a condo it might make sense to buy.
I have no intentions of living in a condo so renting this apartment is still cheaper than buying. When it gets to the point that I'm only saving a couple hundred a month by renting then I will reconsider my situation.