this post was submitted on 29 Sep 2023
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I know I'm supposed to want it to keep going up as a wealth generator or whatever.

But like... I wouldn't be able to afford the monthly payments if I bought my house right now and it's scary. Also none of my friends are buying homes, none of them are even renting full places. Just like renting rooms.

So what are your feelings home owners of lemmy?

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[–] Haphazard9479@lemm.ee 0 points 1 year ago (5 children)

Houses are not wealth generating. They are a long term investment. So long that the value of the dollar declines so much that it makes you think that your wealth has increased. At best, buying a house is a hedge against inflation.

Buy a house when you feel like its a good decision for you and your family. Until that day just save your money and stack sats.

[–] BolexForSoup@kbin.social 4 points 1 year ago* (last edited 1 year ago) (2 children)
[–] Haphazard9479@lemm.ee 1 points 1 year ago (1 children)

A house is a home for many. For others, a house is an investment. Betting on the value of your house to increase is the same as betting on the devaluation of the dollar. A house holds its value but doesnt increase. A house degrades and cost money to keep in good, usable shape. The reason you can sell a house for more than you paid for it is the value of the dollar.

[–] BolexForSoup@kbin.social 1 points 1 year ago* (last edited 1 year ago)
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