[CIB-173RDABN]

I vote owning your home if you bought it while young and in the right state.

We bought our in 1985 in California. California has Prop 13 with limits how much property taxes can go up each year, every home in a neighborhood could be paying different amount of property tax depending on when they bought it. (note - when sold the property base becomes the new purchase price)

Our home has been paid off for years. So all we owe for the home is property tax and home insurance which pro-rated monthly is a little over $250 a month. Try renting anything for $250 a month.

As for maintenance. Leading up to retirement we began replacing appliances and things like the water heater and air conditioner. We also had a new roof put on and the house painted. So once retired we have had no maintenance issues.

So we can live on Social Security if we had to (we don’t so we don’t).

[millenial4freedom]

I know I'm going to get flack for this...but Prop 13 is a massive regressive wealth transfer from the young to the old...why keep taxes artificially fixed depending on an asset you own, while those without said asset don't benefit.

as a consequence, those with the Prop 13 benefit are VERY reluctant (understandably so) to move from their homes, so suppl of homes for sale is further constricted...only further pushing up values for prospective homebuyers.