Re: Why buying a home is usually a terrible investment (vs buying bitcoin).
~snip~
I totally agree with you. Of course everyone manages his life the way he prefers but being in the 60s or 70s renting an apartment and pretty much at any moment you can being kicked out for several different reasons, I don't know, it doesn't sound like a peaceful retiring at that point. And let's not forget that maybe you stay in that place for 20-30 years paying a good price, once you get kicked out you need to think about the market current prices which will probably be 3-4 times more expensive so whatever budgeting you've been doing it's all gone.
The thing is that in many big cities around the world it is getting harder and harder to actually buy a home given the huge increase in their prices.I totally agree with you. Of course everyone manages his life the way he prefers but being in the 60s or 70s renting an apartment and pretty much at any moment you can being kicked out for several different reasons, I don't know, it doesn't sound like a peaceful retiring at that point. And let's not forget that maybe you stay in that place for 20-30 years paying a good price, once you get kicked out you need to think about the market current prices which will probably be 3-4 times more expensive so whatever budgeting you've been doing it's all gone.
And it's just getting worse every year. The amount that a person can save for a deposit is nothing compared to how much a home price increases in the same time.
So, given that the speed of home prices is higher than the speed of savings increasing, then if a person cannot buy a home today they will never be able to.
The only other solution is to move somewhere else that is cheaper.
We were talking about buying a house as an investment and too many people only look at the economical side of purchasing a house but not at the benefits that could bring you, for example the fact that you won't be homeless. Is there a price we can put on that? It's also a mental situation because owning a house brings a certain type of safety, the fact that you won't sleep on the street is priceless for me. And then, to get back to you, being own to actually purchase a house is a totally different matter.