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Renting has all of these problems and is the baseline. This pretend "no rent no mortgage" baseline doesn't exist. Also getting kicked out of your owned house g
by Guvante 7y ago
Renting has all of these problems and is the baseline. This pretend "no rent no mortgage" baseline doesn't exist.
Also getting kicked out of your owned house generally takes six months not six hours as you imply here. Which again is longer than you will get if you rent which is also not zero time.
- pc86 7y ago"No rent no mortgage" absolutely exists - just because most people don't take advantage of it (or are structurally excluded from it because they live somewhere with insane housing costs) doesn't mean it doesn't exist. The only bill you have to pay to keep your house is property taxes, which if you are in an area where you can buy a home in cash, probably means they're less than a car payment or even cell phone.
- chii 7y agoyou forget the capital costs (aka, opportunity cost) in your home. If you paid cash for a house, you're losing the risk free rate of a treasury bond (or the rental rate). That's a cost most people don't count, but only because they dont know how to do financial valuations properly.