So Why Buy A Home If Prices Are So High?
So why buy a home if prices are so high? Let’s do the best reason first, that you may not even know about…People that own homes, by retirement, on average, have 44 times the net worth wealth, than people who rent. If that isn’t enough, then perhaps the forced savings of making the house payment will sway you. Yes, every time you make your house payment, your paying the landlord’s pocket– the good news is that you are the landlord. You’re building equity.
Truly when you rent, you are making someone else’s retirement quite nice indeed. Of course this editor believes that the greatest reason to own is you fix your housing costs for as long as you own the loan you received when you bought. Fast rising rents are a great reason to buy. Investing and being able to live in that investment, happens nowhere else.