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Reply to "Are any of you MF’s investing in anacostia?"
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[quote=Anonymous][quote=Anonymous]Home ownership is a way to become solidly middle class. Stock, either via the public markets or through ownership in your company, is the is the easiest way to get wealthy. There are clearly anomalies but the vast majority of residential real estate is a sub par investment. The carrying costs are absurd - maintenance, upgrades, taxes, insurance, etc. Even factoring in leverage, they are far worse than the public markets. [/quote] This is truly the dumbest take in a long line of dumb takes. When you rent, you’re still paying property taxes, maintenance, hazard insurance - they’re just built into the rent. Rent goes up, 30 year mortgage payments don’t. Stock picking is gambling - it is not “easy”. And you won’t get wealthy putting a down payment into index funds and then rent for 30 years. [/quote]
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