Kevin O’Leary: Unless you can pass this two-question test, don’t buy a home

“Mr. Wonderful” of Shark Tank mostly agrees with Your Professor.

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4 Responses to Kevin O’Leary: Unless you can pass this two-question test, don’t buy a home

  1. Mike February 21, 2018 at 5:19 pm #

    Renting is the #1 reason why I left Los Angeles.

    Renting is fine when during our teens and mid-twenties. Or if, for whatever reason; someone is not in a position to buy. Otherwise, life long renting is for fools.

    Ones marital status is inconsequential.

    The Real Estate Market is Prima Facie evidence of rigged collusion. Current Real Estate prices are artificial bunk. We already had a Real Estate bubble. During this time, housing supply was artificially high due to overbuilding. Now prices are back to bubble levels in a mere 9 years.

    During the bailouts, the banks got to keep the houses AND the bailout money. They are now holding houses on their books and off the market. This artificially inflates their balance sheets and props up landlord parasites.

    Fundamental economics begs the question: What does a house produce? Nothing. A house not a factory. It’s just four walls and a roof. A house is a dead asset. High rents transfer wealth from those who produce (workers) to those who don’t (parasites).

    So make sure you listen to Tom’s advice “boys”. Be good little slaves, keep renting.

  2. Michael February 28, 2018 at 10:21 pm #

    I agree It is totally rigged

  3. SJ March 14, 2018 at 11:35 pm #

    Well jobs are not stable anymore unless you own a business, independent wealthy, or have a government job so renting is better for most people. I’d rather have an emergency fund than spend that money on a down payment then be stuck if I ever lost my job and had to move.

  4. Bob March 21, 2018 at 8:48 am #

    I owned a house for 25 years, and after selling it for 4 times what I paid for it – after adding up the down payment, interest, maintenance, principal, property taxes, improvements I paid over the 25 years – I got all that money back and more. I lived rent free for 25 years.

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