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Originally Posted by OMG!WTF!
Sadly it's never rent free though. Property tax is getting very high and will increase dramatically in the future. As well maintenance and upgrades will take their toll over time. Your capital counts for something too. Rent also increases so it's a wash there. But financially real estate really needs to go up a lot to make owning a financial success. Or you need to get income from it too.
I've held a mortgage on a house since 2008. The people bought it for 950k. It was just reappraised at 925k. They've paid off about 150k in mortgage and so are quite happy with the whole thing even though they are down 25k. But the real loss is around 250k in interest, 50k in property tax, about 25k in repairs and maintenance. Also their 250k down payment has to count for another 50k. It's just funny how some people calculate wins and losses.
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You have to add the other side of the coin though. The rent they would have paid over that period. Not that it makes it a good situation, but you can't just say they had all these expenses and ignore the fact that they got to live in the home, and not pay rent elsewhere.