A house is a constantly decaying pile of materials in need of constant maintenance, on which you pay taxes. They should never be considered "investments", in my opinion.
They should never be considered "investments", in my opinion.
100% agreed. The idea that you should be able to buy property, do nothing with it (or worse - use it and incur depreciation), and still resell it for a profit, is a major flaw in our economic system.
The fact that we accept this for property is part of the reason why we have a housing crisis that likely is never going to go away. We might have been able to address this with more supply, but we now have to battle investors who are incentivised to perpetuate the housing shortage to prop up their investments.
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A house is a constantly decaying pile of materials in need of constant maintenance, on which you pay taxes. They should never be considered "investments", in my opinion.
The same is true of cars.
100% agreed. The idea that you should be able to buy property, do nothing with it (or worse - use it and incur depreciation), and still resell it for a profit, is a major flaw in our economic system.
The fact that we accept this for property is part of the reason why we have a housing crisis that likely is never going to go away. We might have been able to address this with more supply, but we now have to battle investors who are incentivised to perpetuate the housing shortage to prop up their investments.
True, but auto depreciation curves are _much_ steeper than home depreciation curves.
My understanding is there's a 30% hit just driving it off the lot.