Largely agree with this, with a big caveat Buying a house encourages forced saving into a relatively low risk asset That can be a good counterbalance for people constantly yeeting 100% of their net worth into high risk things If you have self control and can manage your finances well, renting is in many ways better than buying - the flexibility to move while young is absolutely massive If you have terrible self control and any spare money you have goes into ETH which then goes into shitcoins.. maybe putting down a 20-30% deposit on a house and being “forced” to pay a few k per month is not a bad thing
Largely agree with this, with a big caveat Buying a house encourages forced saving into a relatively low risk asset That can be a good counterbalance for people constantly yeeting 100% of their net worth into high risk things If you have self control and can manage your finances well, renting is in many ways better than buying - the flexibility to move while young is absolutely massive If you have terrible self control and any spare money you have goes into ETH which then goes into shitcoins.. maybe putting down a 20-30% deposit on a house and being “forced” to pay a few k per month is not a bad thing
@Zeneca rent is often 2-3 times for the same property vs mortgage - there's very little argument for not owning the asset and ticking away equity. horrible take by loopify imo.
Location plays a huge part in this. The conversation on home ownership changes in city/rural, rental-poor areas, primary residence/rental asset, etc. etc. etc. Canada is a vastly different market than the US, and each major city is dealing with housing very differently, for example. No one should be listening to an anon person on twitter's blanket statements on the topic (regardless of which side the statement is on).
@Zeneca If we can get to the point where people realize they shouldn’t put their rent money into a meme coin for “a quick 10x before rent is due,” we will have accomplished something as a community.
@Zeneca I agree, buying real estate is one of the good options for diversification if you can afford it.
@Zeneca diversification is king. the reason i'm here in casinoland is becoz i have the spare cash and not my house and pants to lose
@Zeneca In the context of saving money, I highly recommend other asset classes for sure! Just not liabilities
@Zeneca The worst decision I made in my 20s was not buying a house.