BobS
Great point, TemeculaGuy.
A few years ago we homeowners could claim we “earned” money by simply owning a house. Consider: a $500,000 house going up 12% a year (many years the rate was higher) was making us $5000 per month (not compounded). We could justify to our spouse buying toys and vacations with that ammunition. “Honey, I’m going fishing at Cabo with the money we made last month”. Or, “Yesterday our house made $166.67 for us, let’s go out to that french restaurant.”
Now TemeculaGuy and other smart renters are “capitalizing” their future earnings, gained by waiting to buy, translating their future growing purchasing power into current wealth. Ya gotta love it.
