{ "media_type": "text", "post_content": "Why are some people obsessed with home ownership?", "post_id": "628d20147a7b1b002dd84381", "reply_count": 33, "vote_count": 4, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting", "feed_type": "crowd" }
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Why are some people obsessed with home ownership?

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My GF's rent went up 10% over the last year. The valuation of my home increased 15% in that same time period.

She has 3 bedrooms for 3.2k, I have the same square footage for a basement, backyard, garage, and 1.4k of my payment goes to equity.

You could pay your rent on time every day for years and one day your landlord could decide they no longer wish to rent the property so you’re given your proper notice and are forced to leave. If you pay all your bills, no one can force you out of your home. (HOA, legal issues aside).

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Never needing to move if you don’t want to. Never being afraid of being priced out of your neighborhood. Being able to do what you want with your space.

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D3, that often gets repeated but I don’t know how often it actually happens. If your taxes have gone up then you have equity. You always have the option of using that equity to pay your higher taxes

Paying for an Asset > paying an expense

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Because they understand how to accrue wealth

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For this

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Bay Area (SF, east bay) and southern CA.

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Our home has appreciated 30% + in three years

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Same story here, Cincinnati

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Because they ignore interest payments and ownership costs beyond mortgage payments when they look at ROI.

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Mortgage on my primary home is around $3k (tax, principal, interest, insurance). Same home in my neighborhood now rent about $5k.

Apparently it’s the new sign of wealth

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New sign? You do know how the term "landlord" originated right? Owning housing/land has always been associated with wealth.

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Propaganda

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Real estate is better than bitcoin

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Literally have had the exact same conversation with others.

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Because my home is amazing and the price I pay for it will only marginally increase with increases to insurance and property taxes. Renting a place like mine would probably cost double my mortgage

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Lots of benefits of owning a home, just to list a couple:
Tax deduction,
Not having to rent and move around,
Avoid shitty landlord,
Good investment (so far...)
...etc

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