Because even when you sell the house later you’re just going to take that money and put it into another downpayment.
Last year we decided to relax and move a little north.
Before that I lived in The Chelsea Hotel with Chubb Rock.
There must be some ancient evolutionary tic that makes us want to tear down walls or put nails in them or paint them.
Many people have said to me in the past month, “I’m going to buy a home.” Or, “What do you think of the idea of me buying a home? They are my friends and it seems like they are sincerely asking for my advice. But I don’t want to upset anyone in my family so I’ll leave it out. There are many reasons to not buy a home: Financial: A) Cash Gone. Housing returned 0.4% per year from from 1890 to 2004. It forgets all the other stuff I’m going to mention below.
Oh, I have a third one also from when I was growing up. In the lifespan of your house, everything is going to break.
One of them is here: “What It Feels Like to be Rich” where I describe my complete path into utter depravity and insanity. Its filled with about as much pain as I can fit onto a page.
Oh, I have a fourth story that I just forgot about until this very second. You have to write a big fat check for a downpayment. Suffice to say, when you write that check, you’re never going to see that money again.
Its because corporations didn’t want their employees to have many job choices.
Lets spell out very clearly why the myth of homeownership became religion in the United States. You can’t argue the reverse, since new adults are always competing with you. Saying “my house is an investment” forgets the fact that a house has all the qualities of the ugliest type of investment: Personal reasons to not own a house.
If you can’t move, then your supply of jobs is low. And its quiet and I can walk along the river in the morning with no noise.
Starting March, 2009 I was renting an apartment directly across the street from the New York Stock Exchange. Now I look out the window and see the Hudson River.