I spend more time than 99.999% of people on this subject and I'm quite educated in economics.
I'm not arguing that buying a house is never right. I'm arguing that on average, especially in today's environment it is extremely difficult to make the number work in favor of owning as an investment. As a lifestyle luxury for the intangibles? Sure. But as an investment, this doesn't really make sense anymore.
>> Can you try to offer some explanation for your reasoning?
Those two numbers simply do not represent the same thing. A mortgage is an absolute minimum that dismisses the opportunity cost on the downpayment, doesn't include all the fees and definitely doesn't account for the increase in taxes, HOA and insurances.
>> When you eventually pay off your mortgage your expenses drop to zero.
Who pays for Taxes, Insurance, HOA, Repairs? Who pays the 6% realtor fees the day you sell?
Based on those questions, I would invite you to similarly get educated.
I'm not arguing that buying a house is never right. I'm arguing that on average, especially in today's environment it is extremely difficult to make the number work in favor of owning as an investment. As a lifestyle luxury for the intangibles? Sure. But as an investment, this doesn't really make sense anymore.
>> Can you try to offer some explanation for your reasoning?
Those two numbers simply do not represent the same thing. A mortgage is an absolute minimum that dismisses the opportunity cost on the downpayment, doesn't include all the fees and definitely doesn't account for the increase in taxes, HOA and insurances.
>> When you eventually pay off your mortgage your expenses drop to zero. Who pays for Taxes, Insurance, HOA, Repairs? Who pays the 6% realtor fees the day you sell?
Based on those questions, I would invite you to similarly get educated.