investing should be done with money you don't use not money you need to pay for rent, this guy is an idiot. considering 7% is average returns, what happens on the year you don't get any returns. Bunk at the salvation army?
yeah right. For a profitable trader that might be the case. For the normal person buying a house is the best single investment they ever made in their entire life. Buy one to live in, buy a second to rent and have fools pay off your retirement.
If you couldn't pay the rent, then you couldn't pay the mortgage, taxes, or maintenance for your house either.
He fails to take into account the nearly risk free huge leverage the bank gives you. Youre not getting 10 to 1 on your stock purchases.
try finding a place that lets you have pets and smoke and play loud music and invite friends to party without fucking landlord giving you problems. can't smoke and rental market is tight and same as mortgage.. rental discrimination and apartments are usually in bad neighborhoods. if you can afford the mortgage why rent. people who rent because they don't have money to buy cause it's too expensive.
I'm telling you. Nobody seems to understand that. If you make a downpayment on a house and then make payments on it for 12 years,...on average...you will have as much equity in the house 12 years later as the original purchase price of the house itself. Thats some powerful stuff. SM
Owning a home is sooo much better than renting. I HATE apartments. I remember my first apartment...the fat girl below us would bang on her ceiling (our floor) everytime my wife and I walked or had the TV a little loud. One time at 3am, she was banging because we turned over on our other side on the bed. She was insane. Renting, especially when you can buy a home with a mortgage that is the same or close to the same amount as the rent, is beyond stupid. Renting only makes the landlord rich. You retire and have nothing to show for it and have to keep on paying rent until the day you die. A home, on the other hand, appreciates over the long run and you can sell it for a nice profit when you retire and exclude the first $500k from capitals gains taxes and buy something cheaper and with the remainder, invest it and live off the interest. A home also gives you more space, a garage, a yard for the rugrats to play in, an inground pool if you want, and a place you could actually call home, unlike an apartment where you are stacked on top of one another like a pancake.