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Yes and no. I would agree, but housing is, for the most part, fungible (at least for people with tech salaries). If I sold my house, I could pay for rent in my
by discardable_dan 4y ago
Yes and no. I would agree, but housing is, for the most part, fungible (at least for people with tech salaries). If I sold my house, I could pay for rent in my high-cost area for the better part of a decade with just the income off the sale. I am starting to think I might be crazy not to sell and pocket the money: I could rent down the street and pay rent off my salary while that large pile of money collects rent. A house isn't a particularly liquid asset, and half a house worth of liquidity seems like a safer position in the current market.
- mrtnmcc 4y agoRent has also gone up
- throwaway1777 4y agoNot only that; rent can keep going up.
- forty 4y agoAnd I'll add to that: if you ever have no income (which can happen when you retire for example), at least as a owner you have somewhere to live.
- hackerfromthefu 4y agoLook more than 10 years into the future. 20 years from how as a renter your ongoing costs will be high. 20 years from now as a home owner with the mortgage lower and inflation on everything higher, your ongoing costs will be low. Owning a house is an exercise in deferred gratification, similar to owning most businesses.