This reminds me of something I read over a decade ago: People who rent are far more mobile than people who own their own homes. And it actually affects income levels. A mobile work force gets paid more - all other things being equal - because they can leave for higher pay much easier.
It’s why I didn’t buy until I decided it was where I would live until I die (or need a nursing home). And it’s hard to enjoy a house and acreage when you rent it. I think urban and suburban home ownership is a bit of a scam.
In the meantime, my approach has been to only consider buying homes that are well suited for use as rental properties after I leave them. Condominiums and townhouses in nice areas, and with well-run associations, tend to fit the bill pretty well.
I had the same approach you did.
About thirty years ago I had a long discussion with my wife and said we need to decide—stay and buy a house or move.
I applied to higher-paying jobs in various cities that interested me.
No dice—so we stayed and bought a house locally way out in the country so it could be our retirement home.
I am retired now—and we are still here, and not going anywhere.
You're a pretty smart guy, but that's just DUMB.
Yes, as a property owner everyone who can will pick your pocket, but equity in real property is one of the few ways to build any real wealth for your business or family.
Renting can be advantageous to certain situations, but as you pointed out all your production is fleeting.
Small town rural.............THE BEST!
Me too. I won’t buy until I’m sure the house is my last one. I’ve seen too many of my friends and family get hosed buying a house because they felt they were just supposed to do it