Not a real estate professional, so I don’t have a dog in this fight, but what a stupid article by a hack writer.
It’s entitled “11 Reasons Why *I* Never Want To Own A House Again” yet already by number three we’re at “Homes often tempt people borrow more than they can afford.”
A better article would have listed upsides along with downsides. Ok, so if you don’t buy, what are your alternatives? Do you get to stop paying rent if you stay in the same place for 30 years? One cannot overstate the security of living free-and clear at some point, which you can never do as a renter.
He mentions that home prices generally rise with inflation. But he fails to mention that rents do also, yet mortgage payments are fixed for the life of the loan.
