this post was submitted on 02 Nov 2023
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Repeat after me: it's okay to rent. Equity is not everything.
The downvotes are really depressing. My point is that we've been conditioned in America to focus solely on homeownership. The banks, title companies, realtors, and home contractors tout it as the American dream. No matter the personal cost--the down payment, the interest, the insurance, the maintenance--and no matter what negative externalities--sprawl, inefficient heating and cooling, increased infrastructure, car pollution, divorce and obesity from commuting--you must buy a house.
I get it. If your overriding concern in life is to maximize investment, then by all means pour your cash into a house.
Renting - $2800 a month you give to somebody else for the "privilege" of a roof.
Vs
Owning - $2800 a month you give to the bank for one day calling it yours
You are wrong on so many different levels......