4 ms·
As someone who is a recent homeowner I think it's unfortunate that homeownership has become a long term investment plan, and a hedge against rising rent. The re
by Decabytes 4y ago
As someone who is a recent homeowner I think it's unfortunate that homeownership has become a long term investment plan, and a hedge against rising rent. The reality is that I know a lot of people for which the responsibility of homeownership is not for them. There are a lot of things an old house needs to keep from falling into disrepair, and that's not including snow removal, leaf removal, and lawn care. By all extensions it should be a depreciating asset like any other but due to economic forces it's not.
I wish there were more affordable housing solutions for people for who didn't want to own a home, but at least where I live that is not the case.
- jedberg 4y ago> By all extensions it should be a depreciating asset like any other but due to economic forces it's not. Technically it is. The house itself depreciates, it's just that the land underneath appreciates so much faster that it masks the depreciation of the structure.
- rco8786 4y agoFwiw it’s not terribly accurate to say it “has become” that. The situation you describe has been true basically since right after WW2.