I read an excellent article a while back about how home ownership was actually hurting the economy as people could not afford to move because they were underwater on their loans. Owning a home doesn’t make as much sense anymore, never did actually. IF you buy a home for 75,000 and sell it at 10 years for 100,000, you haven’t made money as all similar 10 yr old homes will cost $100,000 and new home even more. The big problem with renting is the landlord might sell the house and you have to move.
I read an excellent article a while back about how home ownership was actually hurting the economy as people could not afford to move because they were underwater on their loans. Owning a home doesn’t make as much sense anymore, never did actually. IF you buy a home for 75,000 and sell it at 10 years for 100,000, you haven’t made money as all similar 10 yr old homes will cost $100,000 and new home even more. The big problem with renting is the landlord might sell the house and you have to move.