WC Varones

Don't lend your hand to raise no flag atop no ship of fools

Academics agree: buying a house is bad for your wealth



Why throw your money away on a mortgage, maintenance, property taxes, and insurance, when you can rent instead?

I pointed out in March that housing is a horrible investment unless we get inflation. A new study takes it even further: even during the past 30 years of phenomenal home price inflation, renters were better off than buyers.

6 comments:

SarahB said...

Timing is everything. No regrets about renting for the 7 years of the bubble, and no regrets about my new $1800 mortgage. Pretty sure in ten years that will be chump change.

wcv said...

Sarah,

From your lips to Zimbabwe Ben's ears. Now I need that bastard to bail me out on my silver and gold as well as my house.

SarahB said...

Patience my wise friend. They can slow down the inflation tsunami some, but they can't the super nova coming our way.

Independent Accountant said...

WCV:
Now that "Academics agree", buy real estate.

IA

Anonymous said...

Well, then why did you just buy a house?

Anonymous said...

it's home, that's why

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