The answer, naturally, is: It depends on the criteria.
Surprisingly, you will make more money over time if you invest in the stock market. Robert Schiller, a Yale professor who won a Noble prize in 2013 for predicting the housing crash when everyone else thought he was crazy, reports that overall home prices in the United States have risen just 0.37 percent, annualized after inflation, for the last 126 years! 126 years. Ouch!
He says the home's down payment and any rental savings "would be hugely better invested in the stock market." Of course, you have to have the stomach for the wild ups and downs.
And who ya gonna call if there's a problem? The landlord! In the last 14 days 35 percent of my rental portfolio (Yes, I am Vegas's most caring landlord), had plumbing problems. I just made a huge contribution to my plumber's children's college fund.
If you buy, mortgages create positive financial behavior by enforcing savings. For me that is a good thing.
Second, you CAN make money owning a home if you are patient. A study by the Harvard Joint Center found the race was even if the home owner owned the home for 10 years or more.
Finally, I love owning my own home. I can paint my office purple. Plant Meyer lemon trees. Pick fancy faucets. To me it's worth it!
Trust eXp Realty and our team of real estate agents to help you find homes for sale or to sell your current home. We recognize the level of service that the mobile consumer demands. You have information. You have dreams. We possess experience, integrity, and innovation. Together we create leverage to make your dreams a reality.
In year 13 I had to spend almost $11,000 replumbing and rewiring one o
"I do not often write reviews that said, I am writing this review in the hopes that it may sway some in favor of working with Jake.
After a very difficult home buying experience over the course of the last few years, I was finally put in touch with Jake Soteros. Jake was the complete antithesis of all my prior experiences dealing with real estate agents during the home buying process. Jake was patient, knowledgeable, and ready to help in any way he could in order to assist me throughout. I was able to finally find the best home for me and my family, and as a benefit learned a wealth of lessons about real estate, the home buying process, and the market in general from working with him."