Quote:
Originally Posted by Mr.HappySilp
Another thing is I hear people in this thread who are against buying a house keep saying the price will drop and you will lose money unlock other investment.
I like to point out that other investment do have their ups and downs and you still have a chance of losing money. Actually let me say it even if the housing market goes down as long as you don't sell it at the low point you don't lose money. Same with investment.
Sure there are other investment that will get much better returns than buying a house, but to some people (including myself) nothing beats having a place I call home and that I actually own it. Is a sense of security knowing I won't be told to move out next month or whenever.
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i've rented for the last 5 years. never once have i had the risk of having to move out. laws in BC and many other places in the world are very tenant friendly, and it takes a lot of work and time to get rid of a tenant - it's REALLY hard if you're a good tenant, as they have no standing to evict you, and can only raise rates so much each year. In fact, i've never had a rent increase b/c my landlords have wanted me to stay, and to stay happy as I am keeping their investment in good shape by living in it, keeping it clean, not breaking anything, as i would in 'my own home' - oh wait, it is my home.
that aspect of your argument is a fallacy.
we are on this earth for about 70-90 years, do we truly own anything? we are merely borrowing it until we die, then if we 'own' anything it goes to someone else, we don't take it to the grave.
the only time you may have to move is if the owner sells, but usually if you're not a dick, you should know when that's coming, and even then, you have a good leeway period.
i can more understand your point with kids as school and friends is important to them, but as a young, non-kid professional, my ability to up and leave is way more important than some non-existent fear of being kicked out of a place that i pay for in full.