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

Most people buy into the myth that buying a home is the best investment you can ever make...but more often than not that idea is just a myth.

Take the US as an example. The average house in N. America appreciates 5 to 6 per cent per year, which sounds great at first glance. In 10 years the value of your house will almost double.

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.

Making matters worse is that for the first ten years or so most or all of your payments are applied to the interest, so you wont have any actual ownership or equity of the home,
or very little...for the first ten years. And consider that much of the appreciation of your house is simply due to inflation. So if inflation is 5% per year then that alone is undermining your actual appreciation.

I'm not saying that owning a house is a bad thing, there are certainly benefits to home ownership. It provides you with a place to live, you can borrow against it,
you can pass it down to your kids, etc. If you just want to have a place to live and call your own then owning a house may be a great idea for you, but don't think of it as some kind of
incredible financial investment because it is not as great as you may think.

Sincerely the country where I came from doesn't have this much taxation on houses and house owner, the only experience we gain over here is just buy and pack in your home after some necessary registration and legal documentations. In fact to make it very important, those who makes much more money are house owners especially when situated in developed area or in a city that is highly populated then rentage could be so expensive where the prices double over 1-3 years and even as that rents increases price and people are still paying.

What really happened is, tenant are the people who are loosing against house owner. As tenant there are some fees to be paid which includes maintenance fee unlike the cushion fee, legal/agreement fee, agent fee, and cola fee (Drinking money). All these things are what a tenant gonna pay before renting an apartment and tell me why owning a house is a bad ideas or would not benefits them, and of course whatever that made them relocate to another building or house they would still have to restart everything afresh that is why mostly in my country everyone is trying to own their own property or home to live since is too expensive to afford a rental apartment.

Investment in bitcoin is cool and this is for those who are into the digital world that knows the importance and usefulness of bitcoin, anyone who doesn't know how bitcoin works would never leave property renting to Bitcoin investment because they aren't educated on the importance of bitcoin per say. So, investment in bitcoin and housing and also cool investment and of course we don't need focused our efforts in place, maybe hold bitcoin and investment in some real estate with this we don't stressed our bitcoin holdings.