Quote:
Originally Posted by Cowboy89
Do the math, you're really just selecting which method to pay interest to the banks. Either directly through home ownership or indirectly through a landlord intermediary. Buying with a huge mortgage is really just renting money.
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Maybe I'm reading this incorrectly but I really don't know how this can be considered remotely the same. While both basically provide a roof over your head, and yes, both with pay interest to the banks, but after 10 years or so you when you own your home you have an asset that is worth something as opposed to renting where you have nothing of worth to show for it.
Sure housing prices can go down, and the house may not be worth as much as you bought it for but in the end its still worth something and that something is more than you will have at the end with renting.
But again, I may have read this incorrectly and missed your point entirely...