Daniel, thanks for elaborating on my point. You explained it really well.
It’s hard for people the separate the investment and consumption aspects of “a roof over your head.” Buying a house generally comes down to an emotional decision. I hear too many people complain that it sucks to rent an apartment. Then they rush out to buy a $500k fixer, the carrying cost of which is $3000+. Why don’t they just rent a much nicer house for $3000 and save themselves the trouble and risk of owning? Because they believe that renting is “throwing money away.” The way I view it, buying that $500k fixer is throwing money away + living in an inferior house.
