If you’re in the wealth accumulation phase of your life, I think buying a home is a terrible decision (in most cases). Prove me wrong. Seriously. I’m not being rhetorical. I want to see if there’s math that says otherwise.
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Replying to @theSamParr
Everyone forgets foregone rent in the calculus. The incremental cost of ownership in e.g. Manhattan is offset by mortgage interest deduction and equity appreciation plus the chance to flip to an incremental cash flow asset at 0 marginal cost when you move out.
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Replying to @elementko1 @theSamParr
Put differently - if I capitalized my rent and the opportunity cost of owning together at the interest rates charged my most lenders in this market I’d have an opportunity cost of capital far in excess of what a 2br apt costs.
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Replying to @elementko1
Talk dumber to me. You’re say shit I don’t understand.
9:30 PM - 7 Aug 2020
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