Hacker News new | past | comments | ask | show | jobs | submit login

I was referring to the relative accessibility. You need $50k (or $25k if we're going for 10% down) to even start living in the median house. Even a $100k house would require you to save up $10-20k. $2.5k is a far lower bar to start building wealth.



As true as all that is, you still have to have somewhere to live. You can put some of that money back in your own pocket, or you can put all of it in someone else's.


Alternatively, you can calculate how much you'd pay and save/invest in particular scenarios after taking into account ROI, rent, maintenance, mortgage interest, property taxes, closing costs incl. risk of wanting to move earlier than expected, and personal discipline to save when not compelled by a mortgage.

Phrases such as "put it into your own pocket or someone else's" are a vast oversimplification that has more to do with faith and indoctrination than actual fiscal outcomes. It's true some of the time, but you should never make a decision based on a blanket statement like this one. It's not that hard to make an individual analysis for your very own situation, so make yourself some data points rather than listen to biased generalizations.




Consider applying for YC's Spring batch! Applications are open till Feb 11.

Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: