Quote:
Originally Posted by Goat Rodeo
I'd argue it's far from simple. Finding the correct balance is difficult. I have been building a sizable liquid net worth for the last decade; yet I do not own a home, have any plans to own a home, and rent with roommates. What people spend on a house I am able to save and invest. I have spent many hours pouring over spreadsheets analyzing where my money goes; I am far better off renting when quality of life is taken into consideration.
Then again my ideal lifestyle is probably three or four (probably rented) pied-a-terres in LA, NYC, Paris, and a Swan 80. One can dream. I realize that for a lot of people having a home that you own is the most solid thing in life, whereas I find the lack of ownership to be freeing.
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real estate has always been a stable long-term investment. no matter what it's worth on paper, you'll always have a plot to live in, scratch some rental income, or grow tomatoes. any stock or business can become worthless in a few short years.
no more payments. ever... it's a powerful concept