“I worry,” he said, “that owning a home gives me less flexibility if there’s an emergency, or a financial crisis.”
Especially that paragraph resonates with me. I don’t know what the economic future will look like, but i’m worried. If i buy a house today, i have to pay a mortgage for maybe 20 years. But who says that in 20 years, there will still be (well-paying) jobs? I can’t take that insecurity.
You’re still throwing money in the bin. Mortgage repayments are often less than rent because the people renting are trying to cover their mortgage payments and then some. Why pay for someone else to buy a house if you have the ability to do otherwise?
Good article. Really gives you an insight.
Especially that paragraph resonates with me. I don’t know what the economic future will look like, but i’m worried. If i buy a house today, i have to pay a mortgage for maybe 20 years. But who says that in 20 years, there will still be (well-paying) jobs? I can’t take that insecurity.
How much will you have paid in constantly-rising rent over those 20 years with no return on investment?
There is money invested elsewhere than the home. Usually mutual funds, I believe, with different problems: https://lemmy.world/post/25608765
Ok, but your rent payment isn’t going to those. With a mortgage payment, you’re at least building equity.
You’re still throwing money in the bin. Mortgage repayments are often less than rent because the people renting are trying to cover their mortgage payments and then some. Why pay for someone else to buy a house if you have the ability to do otherwise?
You’ll have bigger problems at point if thats the case