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The thing is..a home and 3y mortgage is worth it even if it doesn't appreciate wildly in value! Locking in living expenses for years to guard against inflation

The thing is..a home and 3y mortgage is worth it even if it doesn't appreciate wildly in value! Locking in living expenses for years to guard against inflation is great. I pay the same as my Seattle apartment for a 3k sq ft Tacoma home. And having my monthly payment build equity instead of go to a landlord is even better. I agree buying a house in 2024 is tougher. But man was it easy for all of the 2010s. 2020 pre-craziness was a good time to buy. Sub 3% interest was the norm. At the end of the day, finances have luck involved but also the saying about preparation meets opportunity is true. It might feel like there's no opportunity now, but that just means you should prepare because it's all cyclical. Don't miss the next wealth-boosting event. But yeah it's not a piggyback or retirement plan. I would happily just live here forever and use my the rest of my money for that.

TheAmazingRace 3y ago
I appreciate your sense of optimism. To be clear, through the 2010s, I was still finding myself and didn’t feel ready to settle down. Additionally, I prioritized paying off debt and being as fiscally responsible with my spending habits, since in my youth, I was terrible with money. I’m just bummed that by the time I finally had my chance to get a property for myself to live in and… whoops. I got rug pulled.
bredren 3y ago
It is not entirely dependent on macroeconomic cycle either. This place is called Hacker News. The application for YC asks about a notable hack of a system. Residential real estate is a very large system. It is unlikely someone would hand you a free house in a desirable location, but it doesn’t mean everyone must join the ranks of homeowners via a property that anyone can find and “like” on a real estate app. I’m not saying don’t save, do. But if you are not looking for special circumstances to get in, you are indeed stuck competing on the basis of capital accumulation and credit ranking.

TheAmazingRace 3y ago

I appreciate your sense of optimism. To be clear, through the 2010s, I was still finding myself and didn’t feel ready to settle down. Additionally, I prioritized paying off debt and being as fiscally responsible with my spending habits, since in my youth, I was terrible with money. I’m just bummed that by the time I finally had my chance to get a property for myself to live in and… whoops. I got rug pulled.

bredren 3y ago

It is not entirely dependent on macroeconomic cycle either. This place is called Hacker News. The application for YC asks about a notable hack of a system. Residential real estate is a very large system. It is unlikely someone would hand you a free house in a desirable location, but it doesn’t mean everyone must join the ranks of homeowners via a property that anyone can find and “like” on a real estate app. I’m not saying don’t save, do. But if you are not looking for special circumstances to get in, you are indeed stuck competing on the basis of capital accumulation and credit ranking.