4 ms·
Mostly I agree with you but you might, if owning, choose to rent out your existing place and move somewhere cheaper? Also, here in Austin, TX I know people who
by rossdavidh 6y ago
Mostly I agree with you but you might, if owning, choose to rent out your existing place and move somewhere cheaper?
Also, here in Austin, TX I know people who rent, who own properties that they rent out to others. It seems odd to me.
- pessimizer 6y agoYou rent places in order to live in them. Owning property is always investment (if you're rational, and real estate middlemen will encourage you not to be.) Owning your own place, if not for the massive state subsidy, is basically renting from yourself for the price you would have paid someone else + maintenance. Austin is a great example of a place where you may have bought a house in a really cool neighborhood, which 20 years later is in the middle of a shit yuppie neighborhood. You can rent that house to the shit yuppie who will be happiest there (and is loaded and willing to pay a premium) and rent in a cool neighborhood, especially if rents are low. You might not have to work at all.