Comment on Ok, boomer
misteloct@lemmy.dbzer0.com 7 hours agoI have an offer for a family member to pay the entire deposit and I’m still not buying a house. I’m in top percentile income too but I’d rather retire early and meagerly rent than be stuck holding the bag.
ngdev@lemmy.zip 5 hours ago
how is owning a home a barrier to early retirement more than paying rent with money you will never see again?
SparroHawc@lemmy.zip 5 hours ago
The housing market is in a bubble right now. Buying a house and gaining equity is no guarantee of retirement money.
roscoe@lemmy.dbzer0.com 4 hours ago
The value of a paid off home is not the equity, that’s just numbers on a paper until you die and your heirs sell. The value is in living for peanuts for the rest of your life.
My house is paid off. My monthly housing costs are $735 for property tax that can’t increase more than 2% year due to California law. My neighbor two doors down with the same floor plan rents for $6500/month. That difference will only increase for the next 40 (I hope) years until I die.