Conventional wisdom says our own homes are a great place to invest money because the value of a house will inevitably appreciate. One of Robert Shiller’s most eye-popping findings actually says quite the opposite: Historically, between 1890 and 1990, the actual rate of return on owning a home has been virtually non-existent. We think housing is a great investment. Shiller says it’s not.
Thanks to listener Alex Budilovsky.
i tried explaining your concept of 20% down to my cousin who just bought a house. He looked at me like if I was an idiot. he only put 5% down on a shit hole he said himself he only wants to live in for a few years until “I get my real house” we will see in a few years if he thinks having to pay all that PMI, property taxes and the fees of a house broker to sell his shit box only to do it all over again. Yup I’m the fucking moron here.