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The Absolute Insanity of Not Buying a Home When You’re Young (www.riskology.co)

submitted 1 year ago* (last edited 1 year ago) by Recant@beehaw.org to c/finance@beehaw.org

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While buying a house is not a luxury everyone can afford, buying one instead of renting provides several key benefits that pay off in the long term.

What does everyone else think about buying when compared to renting?

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[–] Erdrick@beehaw.org 6 points 1 year ago (1 children)

Uhhh… I managed to save up a hefty down payment and bought my house in 2009.
It has since then over doubled in value.
So yeah, “sane choice = buying a home while you are young” is my vote.

… buuuuut, today you’d have to be nuts to buy a home.
Not sure where that leaves the young people today, but there is no way (in my area at least) that home values will keep on climbing.
They plateaued and I don’t see any further appreciation.

[–] argv_minus_one@beehaw.org 2 points 1 year ago (1 children)

Not sure where that leaves the young people today

On the street.

[–] cobra89@beehaw.org 2 points 1 year ago

In a house with a ton of roommates or with their parents is the other answer.