Repeat after me: it’s okay to rent. Equity is not everything.
The downvotes are really depressing. My point is that we’ve been conditioned in America to focus solely on homeownership. The banks, title companies, realtors, and home contractors tout it as the American dream. No matter the personal cost–the down payment, the interest, the insurance, the maintenance–and no matter what negative externalities–sprawl, inefficient heating and cooling, increased infrastructure, car pollution, divorce and obesity from commuting–you must buy a house.
I get it. If your overriding concern in life is to maximize investment, then by all means pour your cash into a house.
Okay? I mean we live in two entirely separate worlds. $550k in my area gets you 850 sq ft with added condo fees. And of course if you’re locked in (trapped?) at 3% you’re not going anywhere. You can’t go anywhere even if you wanted. If that’s worth the advantage of doing your own landscape maintenance on the weekend, and having to drive everywhere for the simplest of errands, then head on.
Be an underpaid babysitter for a rich fuck! ( lemmy.ml )
Seriously, “Ensure the CEO sleeps before a certain time”...
Housing market affordability is so bad that Zillow says it will take you 13.5 years to break even on a purchase from July onward ( finance.yahoo.com )