Quote:
Originally Posted by #-3
Your statement has the ring of truth to it, if the majority of home owners didn't have large mortgages to service. The advantage of owning is your cost of housing should go down relative to inflation over time, house was worth $500k 10 years ago when bought, I would have a $2500 monthly mortgage, today it's worth $600k a home owner would have a $3000 mortgage, housing inflation causes the current owner to have more buying power relative to the average new home owner now, without inflation your spending power doesn't improve relative to others in the market for things you might want to buy.
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And rightly or wrongly, every homeowner is acutely aware of their home sale price and includes it in their net worth.