A home IS a good asset and investment if the mortgage can be realistically paid off and unlike rent, inflation makes a mortgage easier to pay off. Renting during hyper-inflation if it happens will not be a good idea.
Problem with buying homes is that everyone buys beyond their means and then complains about being a slave to jew bankers for 50 years.
You said what I wanted to say better than I could say it.
Yes, but low interest rates lead to homes being over valued. Resessions lead to them having less valued. We are at about a low of a real interest rate as we can get, and so if we were to transition from that to resession the change in value is risky. I honestly have no clue what equity OP would be bringing into the picture or what area he's buying in (and thus how expensive), but if he's bringing minimal equity into an expensive home (in some areas that is the option you have), that does have real risk.
I 100% do not believe buying a home to not be worth it in all cases. I just want to counter the assumption it always makes sense and present the type of risk involved and how in many cases the risk to reward ratio really doesn't make sense (everyone's circumstance is different). There was I time I would have said the opposite, that paying rent is always stupid if you can avoid it. But current times make it less than 100% straight forward.
(post is archived)