Reported about 7 hours ago
Financial expert Ramit Sethi argues that home equity is overrated, contending that owning a home can often be more expensive than renting due to hidden costs like property taxes and maintenance. He highlights how mortgages primarily consist of interest payments in the early years, leaving homeowners with little equity. Sethi advises potential buyers to view homeownership realistically, suggesting it should not be seen primarily as an investment but rather as a lifestyle choice, cautioning against purchasing homes due to social pressure.
Source: YAHOO