David 1914
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I hate when I come across someone on the internet giving out bad personal finance advice. Advice that enriches the person giving it and not the person its directed towards.
03:34 PM - Mar 08, 2023
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ltiya75
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In response to David 1914.
Like one urging people not to become homeowners. I under the ones who does not have malicious intent. But others are disingenuous. Now you have all these young people priced out of the housing market. IMHO
03:04 PM - Mar 25, 2023
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David 1914
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In response to ltiya75.
IMO, the bad advice is “renting is throwing money out the window”. This is just not true and we shouldn’t shame people who don’t want or can’t afford to own a home. Homeownership should be seen as a lifestyle choice. There are better investments, i.e. low cost broad market index funds. 1/x
03:46 PM - Mar 25, 2023
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David 1914
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In response to David 1914.
People tend to underestimate the total cost of homeownership … P&I, insurance, property taxes, repairs, improvements, maintenance etc. So when they sell the home they purchase for 150K for 350K they think they made 200K but it really is a lot less once you factor in all the costs over the years.
03:49 PM - Mar 25, 2023
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ltiya75
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Honestly, it depends on location. Even despite all of that, I came out on top.
In response to David 1914.
03:48 AM - Mar 28, 2023
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David 1914
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In response to ltiya75.
IMO home ownership should not be seen as an investment. Can it turn out to be good financial decision, yes. 250K of equity locked into your home vs 250K in a brokerage account. How do you get that equity out? Take on debt or sell the house and if you sell, where/how are you going to live next?
04:11 AM - Mar 28, 2023
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