3 ms·
On average it's still one of the best possible investments you can make with money, especially considering making a return on any sort of savings today isn't re
by awesomerobot 11y ago
On average it's still one of the best possible investments you can make with money, especially considering making a return on any sort of savings today isn't really a thing. These articles also neglect to mention that if you had bought property in a city like SF, Boston, or NYC a decade ago you wouldn't currently be worried about being priced out of the city by increasing rents (commute distance is a huge economic burden beyond the obvious housing costs).
It's still not something that's a "sure thing" or you can do hastily. It also takes more of your time than renting, so if you're trying to optimize "free time" then it's likely a bad investment in that regard.
There's no simple answer one way or another, but if you're trying to justify your inability to buy as a "good decision" you'd still be wrong more often than right. An increased market of affordable housing to purchase is better on the whole for wealth equality than controlling rents.
- doc_holliday 11y ago"especially considering making a return on any sort of savings today isn't really a thing" You can still get around 4% dividends or 7% capital appreciation from some stock funds. Which give or take is no better or worse than property in general once you have considered taxes / repairs / upgrades. You are right it can be a good hedge against inflation of city costs, but that is a bit of a gamble.
- kdamken 11y agoIf you think it's one of the best possible investments, besides the article I poseted above I'd also recommend checking out - http://affordanything.com/2015/11/24/is-renting-better-than-buying-should-i-rent-or-buy/ http://affordanything.com/2015/11/24/is-renting-better-than-... You mention cities that are booming. What about if you bought property in an area that got worse?
- awesomerobot 11y agoWell sure, that's an example of a bad investment. Renting is choosing to not invest. Zero risk, zero reward.