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I don't care as much about my home as an investment (though appreciation matching inflation would be nice) as much as not having to pay rent or mortgage when I'
by TheBeardKing 10y ago
I don't care as much about my home as an investment (though appreciation matching inflation would be nice) as much as not having to pay rent or mortgage when I'm older. Retiring at 70% income means nearly full salary after the mortgage has been paid off, minus taxes and insurance.
- nomel 10y agoI think the article is simplifying things. Gaining money with a housing investment is great and all, but stoping the stream of money that goes into the void from rent is also a gain. Owning with a loss less than that from renting is, by definition, and investment. Investment: the action or process of investing money for profit or material result. Profit: money in - money out. For the bay area, that means you just have to not lose ~36k/year in taxes, fees, and any housing dips.
- gozur88 10y ago>Gaining money with a housing investment is great and all, but stoping the stream of money that goes into the void from rent is also a gain. You're just trading the stream of money that goes into rent for the stream of money that goes into taxes and interest on your loan. You can't say "owning is better than renting" or vice versa without crunching the numbers for your particular situation. When I bought my first house I was paying out more every month (by quite a bit) than I did as a renter. Then I rented for awhile and bought my current place, in which I come out ahead vs renting.
- Kinnard 10y agohttps://news.ycombinator.com/item?id=12134021 https://news.ycombinator.com/item?id=12134021