>> Alice is much, much worse off for buying. In total, buying costs ~$1.75M, where renting would have cost her ~$1.3M. Because her finances were tied up in the house while the home value has gone up so little, Alice has minimal savings.
The only fallacy here is that most renters I know do not pocket "all that money I am saving renting not buying", AND, the article assumes in 18 years the rent price does not change. But the fixed mortgage would have _not_ changed. Interesting.
The only fallacy here is that most renters I know do not pocket "all that money I am saving renting not buying", AND, the article assumes in 18 years the rent price does not change. But the fixed mortgage would have _not_ changed. Interesting.