[ApolloFortyNine]

>Reminder that renting and owning is functionally almost exactly the same thing.

I don't even know where to start, but no, they are not the same thing. You get to live there, that's largely where the similarities end.

>"I bought my home for 500k 15 years ago. It is now worth 1M$, therefore I made 500k$").

Assuming 2k rent (for a 500k home), renting would have cost you $360000, and that's just a net loss. On a 30 year mortgage, the mortgage would be 2100 a month. You would have paid off $196000, be able to realize the gains, and it's incredibly unlikely you spent $196000 on repairs in 15 years. And your mortgage would not have increased in that time.

[hintklb]

I don't even know where to start. The math is incredibly more complex than the back of the napkin example you just gave. (downpayment, taxes, hoa, repairs, insurance, realtors, closing fees??)

But you are proving my point, you "think" you came ahead (while ending up paying way way more). Functionally you live in the same place, and the system managed to extract more money from you.

[ApolloFortyNine]

>and it's incredibly unlikely you spent $196000 on repairs in 15 years.

You have $196000 of buffer on all these (downpayment, taxes, hoa, repairs, insurance, realtors, closing fees??). This number doesn't even include the earnings if you sold the house, in your hypothetical example of the price doubling in 15 years, you actually have $696000 to play with here.

Though it's funny you mention taxes since deducting mortgage interest is one of the biggest tax benefits most people have access to.

Look I don't know why your so anti-house, but you really might want to run the numbers again. You provided two numbers, I did further math on them, and your reply was simply 'the math is incredibly more complex'. This is hardly a fruitful argument from my end.

>Functionally you live in the same place, and the system managed to extract more money from you.

I'm honestly sorry you feel this way. You are only hurting yourself.

[hintklb]

Again, the back of the napkin math you do doesn't work. Educate yourself and search online or on this thread. A ton of people agree with me and the math once you dig deep.

https://www.nytimes.com/interactive/2024/upshot/buy-rent-cal...

We don't need to agree. You seem happy to think you came ahead financially, good for you.

[ApolloFortyNine]

The napkin math was using real numbers lol I didn't make them up.

Educate yourself and search online or on this thread.