Why a house is a terrible investment (2013)
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Why a house is a terrible investment (2013)
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Re: Why a house is a terrible investment (2013)
#2"Don't worry millenials! You didn't really want a house anyway, it's a terrible idea! Keep paying those student loan payments and renting!" -- Retired boomer with $1MM+ equity in their suburban California home purchased in 1975 for $10k.
Re: Why a house is a terrible investment (2013)
#3"Don't worry millenials! You didn't really want a house anyway, it's a terrible idea! Keep paying those student loan payments and renting!" -- Retired boomer with $1MM+ equity in their suburban California home purchased in 1975 for $10k.
HN guidelines discourage these sort of shallow dismissive comments. Reading a constructive rebuttal would be more interesting.
Re: Why a house is a terrible investment (2013)
#4"Don't worry millenials! You didn't really want a house anyway, it's a terrible idea! Keep paying those student loan payments and renting!" -- Retired boomer with $1MM+ equity in their suburban California home purchased in 1975 for $10k.
^Nimby boomer.
Re: Why a house is a terrible investment (2013)
#5"Don't worry millenials! You didn't really want a house anyway, it's a terrible idea! Keep paying those student loan payments and renting!" -- Retired boomer with $1MM+ equity in their suburban California home purchased in 1975 for $10k.
To be fair, it's hard to say that trying to follow the exact same trajectory today would lead you to the exact same place in 2061.
Re: Why a house is a terrible investment (2013)
#6I bought a house in 2015 (at 32) and it was the best thing I ever did. Even though I had to move away, I turned it into a rental property, and it’s earning $380 a month in profit. I’ve been using that profit to pay down the principal and add to my 401(k). My only regret is that I didn’t buy a lot sooner.
Re: Why a house is a terrible investment (2013)
#7The point is quality of life... Under the bridge is free...
Re: Why a house is a terrible investment (2013)
#8As a younger millennial I find myself far more interested in a home from a Maslow’s hierarchy perspective than an investment at this point.
Re: Why a house is a terrible investment (2013)
#9Your house might be a terrible investment. Rental properties not so much.
Re: Why a house is a terrible investment (2013)
#10I bought a house in 2015 (at 32) and it was the best thing I ever did. Even though I had to move away, I turned it into a rental property, and it’s earning $380 a month in profit. I’ve been using that profit to pay down the principal and add to my 401(k). My only regret is that I didn’t buy a lot sooner.
I mean, in the past 7 or so years, all the boats have been rising. What would your returns have been if you put them in stocks? How great was and is the risk you take by taking tenants versus the risk you take by buying stocks?