Sandra writes

[CHRISTINA]

Sandra writes:

Oh, please. What is this business about buying a house as an "investment" we never hear the end of?  We need a place to live, right?  If we do not buy a house, then we will have to rent one or else rent an  apartment, unless one enjoys all the advantages of residing under a bridge.  There are no other options. Couch surfing with one's spouse and family?  I don't think so.  This was barely touched on.

  

The disadvantages of renting are just as numerous as owning your own house, if not even greater.  You are still paying for the repairs and taxes, only it's indirect.  A landlord can decide he wants to re-do all the suites in an apt. block, which happened to someone I know.  Total renovation even though the suites were all perfectly livable and in good condition. (I've seen some of them.) The tenants were not given a choice whether or not to have their particular suite renovated.  The increase in rent was ghastly and quite a few of the tenants are old people. 

 

Suppose large numbers of people decide to heed the advice that buying a house is a "poor investment".  Where do they go?  Who do they sell their house to, if nobody wants to be a homeowner?  Who's going to own all those houses and apartment blocks?  Are a few very rich people going to come along, buy up everyone's house, and then rent it out to them?  Instead of dealing only with the government (who you pay your house taxes to), you then have to abide by the landlord's endless rules and regulations, too.  If you want a dog or a cat, you'll have to pay extra rent, for just one example, if they let you have one at all. 

 

There's no free lunch.  Life is hard and staying alive is expensive.

 

Thanks for listening.  As you can see, this topic is like waving a red flag in front of a bull where I am concerned.

 

 

 

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Home Prices Ready to Crash?

April 27, 2017