#Adam #Ruins #Home #Ownership #Terrible #Investment
Prepare to be dazzled, ladies. This house just came on the market. (gasping) Danielle, the energy in here. I can feel it. This is our home. And outdoor spaces are always in demand. This place is a great investment. Mm-hmm.
No, it isn’t. Crap, competition. Hi. Oh, hello, are you looking? For a place to live, yes, but– Come to think of it, I probably shouldn’t buy. And neither should you. Fact is, a lot of people who shop for homes would actually be better of renting.
What are you talking about? I just got a promotion, and Jen’s sound healing practice just got a customer. Yes, his name is Wolfram. Right, buying a house is what you do. It’s the American dream.
Ah, yes, for almost a century, Americans have been taught that homeownership is the ultimate middle class ideal. Oh, Harold, our very own little castle. Isn’t it grand? Yes, freedom, stability, and no one will know I’m a queer. Oh!
But the fact is for millions of us, this is a dream that’s not worth chasing. Please, buying a home gives you freedom. No, it doesn’t. When you rent, you can move whenever you want. But after you buy, you’re sorta stuck. Ooh, a job that pays more money? In Hawaii? (chain rattling) Sorry, I’m just really tied down right now. It’s even been shown that higher rates of homeownership lead to higher unemployment for exactly this reason.
You’re forgetting that owning a home makes financial sense. I am sick of paying rent to some landlord. Yeah, instead you’ll be paying a mortgage to some bank. How is that any different? Well, let’s see, I send you a bill once a month.
I kick you out if you don’t pay and, ah, I don’t fix anything. That’s the difference. You’re gonna need this when your heater explodes. And I’m gonna use your can considering I own it for the next 30 years. (chuckling)
Often, buying doesn’t give you any more stability than renting. You’re just paying a different jerk. And for the first few years, you’re not even building equity. You’re just paying off interest.