4 ms·
This view still considers homes to be an investment! You cannot eat your cake and have it too; if we evaluate homeownership financially it is fundamentally an i
by clipsy 3y ago
This view still considers homes to be an investment! You cannot eat your cake and have it too; if we evaluate homeownership financially it is fundamentally an investment (even if it is a complex, tax-advantaged, leveraged investment with myriad intangibles) and if we don't then how do we evaluate it? Give me some way, as a hypothetical potential homebuyer, to decide whether buying a home is right for me without making it an investment. I suspect you can't.
- bombcar 3y agoCompare it to renting only. The value of my house is immaterial to me since I need a place to live and since I bought it my run costs are basically stable and less than renting. Will I be able to resell it in 10/20/30 years? Probably. But it would still be worthwhile compared to rental outflows. Total structural loss immediately after purchase would have been sad, just like a crash after buying a new car. But insurance exists for that.