General Discussion
In reply to the discussion: Is Buying a House Still the Best Way to Build Wealth? [View all]Adrahil
(13,340 posts)I said it's not a wise financial move, not that you're a second class citizen. It's not like I think it NEVER makes sense to rent. I rented for 8 years out of college while I settled into a career, a relationship, and saved for a down payment.
No, I'm not a boomer, I'm a Gen-Xer. But I can do math, and IMO, renting is a waste of money, if you can avoid it. In all this, you're creating profit, and building wealth, for someone else. I'd rather build wealth for myself and my family. The way I see it, you have to live somewhere, and you have to pay for it. You might as well actually be buying something.
You can do that, of course. We all make judgments about what we value. I just think the one you're making is REALLY expensive int he long run.
Like I said... I'm lazy. I pay someone to mow my lawn, paint the house, etc. I'm not rich, but I do value my time more than my money when it comes to those sorts of tasks.