Reported 5 months ago
Warren Buffett believes that buying a house is generally a poor investment due to overlooked costs and the tying up of funds that could be used for other investments. He personally bought his home in 1958 for $31,500 and still lives there, now worth about $1.4 million, making it his only real estate investment. Buffett emphasizes the down payment, monthly costs like interest and insurance, and the potential for higher returns in stocks compared to real estate. Financial adviser Dave Ramsey and others agree, suggesting renting as a strategic option until homeownership fits better financially.
Source: YAHOO