Post #2958877

@frank@fraxoweb.social They sell houses as an investment and that's the problem. A house is a place to live, nothing more, and making them investments just encourages the flipping/hoarding that drives up housing costs. We bought our first house in 2006 and sold it in 2021 when we moved... it gained a whole $20,000 in value, all of which was eaten up by the realtor fees (technically we lost money on the house). The advantages during those 15 years where that rent increased nearly 25% while our mortgage payment stayed roughly the same AND we had payed off nearly $190,000 in principal which we were able to apply against the purchase on our next home (thus keeping our mortgage time low). So even though we made no money on the investment we still had $190k that we wouldn't have had if we had rented for those 15 years (I remember looking at rents withing 5 years of buying and they where a little higher than my mortgage payment, although when I bought my mortgage was higher than my rent had been).