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2. "Renting is just throwing money away".
As a renter, you pay a landlord rent for the use of their house. As a buyer, you pay a bank interest for the use of its money. Why are rent payments seen as "throwing money away" but the interest payments are not? The usual response is that buyers are "building equity" over time, as they pay down principal and (potentially) as house prices rise. But renters can build equity too, for example by investing in stocks instead of making principal payments.
3. "We've never seen a boom like this".
Across the US as a whole, this is true - see the graph on our home page. But in particular regional markets, the recent run-up in house prices bears a remarkable resemblance to what happened in the last major real estate cycle - |
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