But owning a home is still the best way to make sure that you always have a roof over your head. If you just figure out what that is worth TO YOU, and pay only that much, then it really doesn’t matter what the housing market does.
It is an “investment”, but not to make money, but an investment in future lodging. Just as you might buy other capital assets now because they seem inexpensive, so you have them over the long haul.
At this point, I kind of wish I was organized enough to buy long-term food items because that’s another way to take money you have saved now and ensure that inflation doesn’t kill you later. Plus, while government could likely figure otu a way to steal your money later, it is unlikely that government is going to figure out to round up people’s stocks of food, clothing, and other basic materials.
long-term food items because that’s another way to take money you have saved now and ensure that inflation doesn’t kill you laterMormons typically excel at keeping a year's worth of food on hand. The Alpha Strategy also does a fair job of exploring food and consumables as a form of savings.
I always enjoy your intelligent, well-though-out posts, Charles. And you make a good point, as always. I’m just relieved I bought my house during a slightly depressed market 18 years ago, so I didn’t pay more than it was intrinsically worth.
It’s a great feeling of security to know my house is paid for and can’t be taken from me, and I intend to stay here until I can’t manage the work necessary to maintain it any more. Another 20-30 years, at least!