/biz/ - Business & Finance

Am I missing something here? If you rent an apartment, all that money is just going into a black hole. You are never getting it back, you aren't building equity in something that you can eventually re-sell. You are just handing over a thousand dollars per month to some guy and he keeps it forever.

But if you buy a house, all those monthly payments that you make will eventually come back to you when you sell the house, assuming that the overall value stays roughly the same. And even if the house value goes down, you're still getting back some money. So basically you are living rent-free during that entire time, minus taxes and interest and shit but I doubt that's more costly than renting an apartment.

So what the fuck is the point in renting at all? I feel like the best thing to do would be to go hermit mode for a couple of years with your parents until you can buy a starter house with your savings, then just build and snowball equity for the rest of your life