Or paying more money to access your money as with a home equity loan or HELOC.
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Home buying generally makes sense if rates are low enough that fixed rate mortgage+taxes/costs-owner subsidies < rent
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Not to mention property taxes, fairly high-deductible homeowners insurance, and costly repair and upkeep.
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This would be true if rents weren't out pacing mortgage payments. Homeownership where I live 20-50% cheaper than renting.
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Until you need to spend 10k+ to fix the roof. Or need to leave quickly. Etc.
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And there's a tendency to roll profits over into the next house anyhow. That's a big part of why we personally haven't moved.
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Houses are mainly an investment for the next gen but the Boomers have fucked that up, selling or reverse-mortgaging, to hell with the kids.
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Well you can always borrow against it and continue living there. Not ideal but an important option.
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