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[Invert, always invert] If you're not a homeowner then "you'll own nothing and be happy", Homes are not #1 best investment asset and they shouldn't be but the
by paulus_magnus2 3mo ago
[Invert, always invert]
If you're not a homeowner then "you'll own nothing and be happy",
Homes are not #1 best investment asset and they shouldn't be but the world works better
if people own homes they live in. It's a matter of not having the most significant part of your life
being exposed to the market volatility. Plus it nicely aligns incentives of the neighbourhood.
Go and check areas that are mostly rental and see how maintenance (of both homes and infrastructure)
is forgotten on the altair of rentmaxxing.
Of course if you're at $400k at FAANG, your best investment isn't realestate
but for majority of middle class and working class buying your own home, taking a good care of it and passing
it to your grandchildren is a very good investment. Also the society benefits.
The easiest way to solve the unafordability without putting everyone into negative equity is WFH. Land is only expensive near where traditionally the good jobs are. Just allow people to move to a low cost area, build there and WFH