Quote from: uneng on August 18, 2024, 04:03:19 PM

Quote from: headingnorth on August 14, 2024, 02:17:08 AM

But most people don't take into account the interest rate where the average homeowner is paying approx. 6% annual interest on a typical 30-year fixed mortgage.
So the interest alone is wiping out the gains on your annual 6% appreciation. On top of that you are paying 1% property tax year every year, maintenance and repair costs, etc.

Before buying a house, save the money and pay for it at once without creating long term debt along the next decades. As I see, the terrible idea isn't to buy a house, but to buy a house on credit. And the same goes for any other thing you are going to acquire. Do your best to always pay at sight, while asking for a discount. Only buy on credit if there aren't any interest rates going to be charged from you.

Buying a house is a great investment which is much more stable and safe than holding Bitcoin, although both categories of investment are totally different. Each of them have their respective pros, and just like any other investments, the more volatile an investment is, more promising the potential profit can be, while more stable investments tend to be less profitable.

Buying a house can only be a great investment if you are making consistent profits out from it.