When there’s almost no hope of owning a home ever, why bother saving? If I hadn’t gotten a home right before the housing market went to shit, I’d be discouraged too. As nice as it is seeing my little condo skyrocket in value, I’d rather all homeowners lost value in their homes if it meant home-buying was easier for more people. It doesn’t help having a place that’s doubled in value if every other home on the market has also doubled in value along with it.
My reason to save was always retirement, end of life care, etc. And real talk, the money sink into my 401k is doing better than the money I’m sinking into the house I was lucky enough to score 5 years ago.
My main reason to buy a house was not because real estate was a better investment for me. It wasn’t. Like many of us, I hated my landlords, hated the fact that nothing ever got fixed in my rentals, hated noisy neighbors that were a wall away, etc.
Absolutely. It doesn’t matter what my house’s value is because I can’t afford to sell it. I couldn’t afford to replace it, and my house is the only realistic way I’ll be able to retire someday and actually have a roof over my head.
I’d like if home-buying was more affordable, but we are still stuck in the supply problem. My brother put his house on the market and priced it the highest any house in his neighbors sold for. He got an offer for that in 2 weeks. The housing value will crash if the market get flooded, but home builders don’t want that.
Dont you guys not have phones parents? You will get a house once they die. If you have siblings, tough luck, you will have to battle royale for the house.
Because there is more to life than just owning a home? How about having some buffer in the event you lose your job, or get sick, or a million other reasons. You’re way too fixated on the idea of owning a house.
There’s more to it than the idea of owning a home. A 30-year fixed mortgage means your “rent” will be the same* for 30 years. Then you just… Don’t have to pay it any more. Need to move? That’s cool, you can just take that equity you’ve got and put it towards your next house.
* yes, I know property tax and insurance is a thing. The bulk of the payment is for principal and interest
When there’s almost no hope of owning a home ever, why bother saving? If I hadn’t gotten a home right before the housing market went to shit, I’d be discouraged too. As nice as it is seeing my little condo skyrocket in value, I’d rather all homeowners lost value in their homes if it meant home-buying was easier for more people. It doesn’t help having a place that’s doubled in value if every other home on the market has also doubled in value along with it.
Removed by mod
The Daily did a good piece about several weeks ago. https://youtu.be/MVVW0symuu8
My reason to save was always retirement, end of life care, etc. And real talk, the money sink into my 401k is doing better than the money I’m sinking into the house I was lucky enough to score 5 years ago.
My main reason to buy a house was not because real estate was a better investment for me. It wasn’t. Like many of us, I hated my landlords, hated the fact that nothing ever got fixed in my rentals, hated noisy neighbors that were a wall away, etc.
Absolutely. It doesn’t matter what my house’s value is because I can’t afford to sell it. I couldn’t afford to replace it, and my house is the only realistic way I’ll be able to retire someday and actually have a roof over my head.
I’d like if home-buying was more affordable, but we are still stuck in the supply problem. My brother put his house on the market and priced it the highest any house in his neighbors sold for. He got an offer for that in 2 weeks. The housing value will crash if the market get flooded, but home builders don’t want that.
Dont you guys not have
phonesparents? You will get a house once they die. If you have siblings, tough luck, you will have to battle royale for the house.Because there is more to life than just owning a home? How about having some buffer in the event you lose your job, or get sick, or a million other reasons. You’re way too fixated on the idea of owning a house.
There’s more to it than the idea of owning a home. A 30-year fixed mortgage means your “rent” will be the same* for 30 years. Then you just… Don’t have to pay it any more. Need to move? That’s cool, you can just take that equity you’ve got and put it towards your next house.
* yes, I know property tax and insurance is a thing. The bulk of the payment is for principal and interest
Totally. But just because you can’t afford to buy a home doesn’t mean you should blow your savings.