My primary is an asset, as is anything I own. Your point?

Secondly, if you know anything about NY itself, it’s actually often cheaper to rent than to buy(*), whereas the opposite is true, dramatically so, in many parts of NJ right now. Even good parts. I’d rather have an income-producing duplex or triplex and live in the mother-in-law flat than have equity and debt tied up in a primary.

As far as a primary, with so many opportunities out there, at this point I’d rather go for either (a) a rental or (b) the cheapest primary possible in an an area that’s reasonably convenient and where I’m not likely to be shot. I don’t see housing as a place to live in, as much as a source of income that helps me work less and makes my tenants (rather than some asshole of a boss who wants to control my fucking life) pay my bills. I value independence much more than flash or even comfort — if I acquired enough rentals in the next few years not to ever HAVE to work outside of the rental business again if I lived frugally, I’d be happy as a pig in shit. I’d still work, but be comforted by the fact that I could tell any boss or client to go fuck off without repercussions.

(*) – and once you’re in a stabilized (not rent-controlled) apt for a while, they can’t raise rent much or evict you easily if at all.