For me it’s an investment in freezing my housing costs. I bought 8 years ago and since then the increases in my housing costs have been around 5% as taxes go up. In the same time period, rent for the apartment I was in previously has gone up 65% and is higher than my mortgage payment. Had I not purchased a house there’s a good chance I would have had to either move in with family or move to a much cheaper area.
sploosh@lemmy.world 1 month ago
Tell that to my mortgage.
For the record I own exactly one house, it’s in terrible condition and I don’t have the funds to renovate. Because of the mortgage.
killingspark@feddit.org 1 month ago
In this case, your debt is the investment
sploosh@lemmy.world 1 month ago
For me it’s an investment in freezing my housing costs. I bought 8 years ago and since then the increases in my housing costs have been around 5% as taxes go up. In the same time period, rent for the apartment I was in previously has gone up 65% and is higher than my mortgage payment. Had I not purchased a house there’s a good chance I would have had to either move in with family or move to a much cheaper area.