Ken Fenner
Active member
I'm a numbers guy. If something doesn't appreciate in value or make my life dramatically more comfortable, I don't buy it. I have owned three houses in my lifetime and only the one I am in now has shown any return on investment (because of the out-of-the-ordinary rise in housing prices in the last 5 years) Before I read the book Rich Dad Poor Dad, which is a beginner's guide to building wealth, I always wondered why everyone was so adamant about owning a house. All I owned was a mortgage payment, taxes, insurance and maintenance costs. I bought my first house in 1990 for $78,000 at the end of a real estate bubble. After putting in $80,000 in payments and renovation over five years, I sold the house for exactly what I paid for it. I figured I just bought a house at the wrong time with a bad interest rate. My second home, which I bought because we needed more space was a similar story.
I'm curious as to your thoughts on home ownership versus renting. An excellent article to read is "Renting Makes More Financial Sense"
I'm curious as to your thoughts on home ownership versus renting. An excellent article to read is "Renting Makes More Financial Sense"