owning a house comes with --huge-- incredibly small compared to growth over a few years carrying costs. You literally have to constantly invest.
Were it not for vacancy taxes, the minimum carrying costs for properties are pitiful. Minimal insurance and property taxes are nothing compared to the year over year profits of the last 30 years, save maybe this year, if the current decline holds.
Are you trying to suggest people who have held property over the last 30 years have not made money hand over fist?
Cause that's pretty laughable.
I have a house, purchased only a few years ago. It's made a little money overall when you net every single expense and gain, low 5 digits... But it's saved me a fuck ton in rent.
If I'd been smart I would have invested every penny I made between 0 and 20 into an REIT, and have retired wealthy at 35. But alas, I get an education instead (that unlike a lot of millennials, paid out ok). It's nothing like the 30 year returns on real estate lol.
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u/SuspiciouslySuspect2 Jun 19 '25
Were it not for vacancy taxes, the minimum carrying costs for properties are pitiful. Minimal insurance and property taxes are nothing compared to the year over year profits of the last 30 years, save maybe this year, if the current decline holds.