It is nice to have the following:
No home value depreciation eating away at our net worth
Less monthly cost (rent vs mortgage)
Previous home equity now making money in other investments
win, win, win 🙂
BTW, I know someone who is about to buy for the first time in a fringe area in CA. They are streeeeeetching for the purchase, their financial situation is bad, they are only going to be there a couple of years before they will be forced to transfer and they know they will not be able to afford the difference between ownership costs and what they can get for rent for the property. They don’t want to “throw their money away by renting anymore.” Sigh…. It is hard to watch people you know giddily throw themselves off a cliff without a parachute while yelling, “It’s going to be a soft landing!”
I passed along my opinion and it was thrown out with the garbage.
