4 ms·
That's your own fault for being delusional enough to think that you should buy a house as an "investment" (or even worse as speculation because you think it wil
by galdosdi 10y ago
That's your own fault for being delusional enough to think that you should buy a house as an "investment" (or even worse as speculation because you think it will go up high and fast)
Buy a house if you like it and want to live in it for the next 30 years. Then you won't care about resale value.
Should we also feel bad for people who decided to short a bunch of random stocks because they had a gut feeling? Mortgages are highly leveraged, and are not inherently a safe investment. What makes them safe is when you're buying something you intend to live in anyway, because you'll always need some form of housing, you're just prepaying for it.
Besides, long term, this will make the neighborhood denser and ultimately increase land value. As long as you hold on long enough your resale value may actually go up. Either way, resale value is not something legitimate everyday people should be concerned with, only speculators. If you're not ready to commit to live somewhere for the next 30 years, rent.