Quote:
Originally Posted by DaFace
It's a tough problem. People who own homes gripe about taxes and insurance, but (at least in theory), those are driven by your wealth increasing from equity in your house. Again, in theory, all you have to do is sell your place, and you'd be WAY ahead of where you would have been had you never bought at all (even accounting for all the taxes and insurance).
Meanwhile, younger generations can't afford to buy homes at all because the prices have increased so much, so they aren't building wealth at all.
Overall, you're far better off owning than renting in times of rapid appreciation of real estate, but you have to be willing to sell to take advantage of it.
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Younger generations can afford to buy homes, but for the most part they are unwilling to sacrifice to go it. They would never stoop so low as to not live in the same type of house their parents live in or they can’t fathom buying a fixer upper and putting sweat equity into it. They’d rather rent so they don’t have the responsibility to take care of anything and then bitch that the system is ****ing them over.