...giving them temporary access to something they will only need for a short period of time. This is also true of rental cars, Blue-Ray disks, skis at a ski lodge, etc. The need is temporary, thus it is in the best interest of the consumer to rent instead of buy.
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By contrast, no human being will ever go a day in their life not needing shelter. At no point do you not need a place to live. The need for shelter in a specific area may be temporary, as in the case with hotels, but we always have to have somewhere to call home.
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Replying to @RoseOfWindsong
Yeah but most human beings don't live in the same place for long enough to justify the cost of a home - the fact that very few of us can even actually afford the price of a home is why the mortgage market exists and is so central to our society
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Replying to @arthur_affect
And the vast majority of people who do buy a home sell it before they've paid off the mortgage, and do so at a financial loss once the middlemen are paid (a loss disguised by the fact that much of the apparent appreciation of real estate is just keeping up with inflation)
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Replying to @CleverSubtle
Appreciation in the real estate market as a whole, over time, basically matches inflation (i.e. is zero in real terms)
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Replying to @CleverSubtle
Buying a house is an expense too, it's not really that different from buying a car vs renting a car The idea that when you put money into a house you can pull all that money right back out again is false, often disastrously so
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Replying to @CleverSubtle
It pays off for a lot fewer people than is advertised, because no one thinks in terms of inflation or opportunity costs, they just compare the lump sum when they sell to the lump sum when they bought
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The actual "breakeven point" for "coming out ahead" owning vs renting depends on the market but can be as long as ten years, and it's actually fairly unlikely for someone to stay in the same house that long
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