Reply to What if we just rent for the long haul...

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[quote=Anonymous][quote=Anonymous]People put a lot of meaning into growing equity through owning. My family has owed three homes in last 15 years. I did the math and had we just rented same place and put the difference in money - down payment and extra if took to own- into market, we would have a lot more money than we do now. All homes ended up being headache if you asked me.
We didn't overpay any of them, but just simply owning a home costs a lot.
We sold all three, got the equity out and it doubled in this market in two years. It is still going up. The homes would have never appreciated like that. They were not assets.
Most people know real estate, but they don't know anything about market. Being in the market taught me a lot more than owning real estate.
I make $13k to $20k a day easily on the money I have in the market. People still keep asking me when am I ready to buy. No time soon or even never. Seeing the markets move up so fast is more exciting that owning a home. I also love my rental. My landlord is awesome.  But also, like PP, mentioned, I can move right next door to the middle school and three years after that, right next door to child's high school.
I got to be crazy to take out cash right now from the market and buy a home with those interest rates. 
You have to do the math to see it.
I did get a finance degree, but most of what I know about markets, came from being in the market hands on the last four years.
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You make something like six million a year and are worried about the costs of owning a home? Somehow I don’t believe you. [/quote]

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