How many of you guys got hammered by your wife or your in(or out)-laws about buying a home early in your marriage?
How many were told “it’s a great investment”?
Personally, I can attest that it IS job security. Unpaid job security I might add. Always something to require your time and prevent you from doing what you want to do.
Well here’s a chart to wave under your wife’s nose (or that of her parents). It comes courtesy of Casey Research and ChartOfTheDay.com.
It shows that a person who bought a median priced home back in 1979, after showing a paper profit only after 1995 and only for 10 years, is now back under water (inflation adjusted).
Of course, your father-in-law will tell you that you need to hang on for the LONG term (30 years isn’t long enough?) and you have to be able to sell the house and live in a tent in order to enjoy your profits, but other than that…
What a great investment!
P.S. – Not to disparage other reasons that might make owning your own home the right move for you; but it’s kind of like buying your wife jewelry when she emphasizes that it’s a good investment – “When do we get to sell it, honey?”
