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It has value. And thus you can sell it or borrow against that value. The alternative of renting does not maintain value. You pay to live there for a month and t
by Tactic 10y ago
It has value. And thus you can sell it or borrow against that value. The alternative of renting does not maintain value. You pay to live there for a month and then at the end of that month your value disappears.
It is true that a house has its downsides and requires more effort. That is true of most anything with value.
- NTDF9 10y ago>> The alternative of renting does not maintain value What if renting is cheaper than buying (example SF bay area)? More importantly, what if the purchase of house is made with the expectation of growth in value of the house and that expectation turns out to be incorrect after 30 years (as in Detroit)? Beyond a certain cost of a house, wouldn't it be advisable to plunk money in funds rather than a house (and hoping it builds equity)?