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[quote=Anonymous][quote=Anonymous]Owning a home is pretty overrated. There is always,.alllllllllways something wrong they needs to be fixed. Home repairs are stupidly expensive these days and deing with contractors can often be a giant PITA.  Taxes go up constantly. Owning a home also entices you to spend a lot more money furnishing and decorating the place, which let's be honest, doesn't really improve our lives in any meaningful way. You'd be much better off taking all the money you blew on furniture etc and investing it instead. Constant maintenance costs for lawns, furnance, roof, gutters, AC,  termite treatments. It never ends, and neither do the hikes for insurance and taxes.

You're not missing out on much. And I own a home.[/quote]

The problem is that most people have no idea how to invest money in a way that would not only net them similar returns to homeownership, but also cover their living costs. It's not that it's impossible, it's just much, much harder than just buying a home to live in, muddling through on the maintenance, and then selling it for a profit later. For most Americans, their home is their financial saving grace, their one major appreciating asset, and their mortgage serves as a form of forced savings that keeps people from winding up destitute.

Most people aren't that good with money, but if they can scrape together a down payment and buy something, they'll do okay. Combine it with an automatic 401k deduction and social security, and you're not totally screwed in old age. There are alternative avenues and they might even be better avenues. But they take skill, whereas home ownership does not.[/quote]

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