[lettergram]

It depends where you live and if you’re willing to move.

A friend of mine couldn’t afford a house in SF, so he bought 3 elsewhere and the rent income paid for the mortgage on his 4th.

People can always move and make it work. I’ve seen the poorest people I know buy a few acres and quite literally camp as they build a house by hand.

The reality, is people want to rent. While it blows my mind, I agree it’s the reality (people increasingly renting).

However, in my opinion, it’s because they don’t have the drive to build wealth and be independent; self-reliant; etc.

[seanmcdirmid]

I spent 9 years renting, paying 6-7k RMB for an apartment that was selling for 8 million RMB. Even though I didn’t build wealth through housing, I was able to save a lot because rents were cheap where I lived and I didn’t buy. This works in markets where rents are cheap and sale prices are high (most of China actually), you have to do the math, “buy at any cost” is not a good answer.

[fredsir]

That’s an overly simplistic and very rosy eyed take in my opinion.