this post was submitted on 01 Mar 2026
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You need shelter. You can pay money and have nothing at the end, or you can put it into equity. Owning a home is the best investment you'll make in your life. The maintenance costs are trivial. Beg, borrow or steal whatever you need to afford the shittiest little thing you can afford and upgrade later.
House prices going down in Toronto are not a reason to ignore the value of home ownership. They're an opportunity to get yourself out of rentals. This author is on drugs.
Sure grandpa, let’s take you to bed
Sounds like your grandpa didn't pass on his brains to you.
He did me one better. His hard work paid for some financial literacy so I’m grateful
I generally agree, a home should not be primarily thought of as an investment.
It's a roof over your head that you have more control over than if you were living in a rental.
And after a period of time, you actually own it and no longer have to keep paying someone else for the privilege of having a place to live.
Minor nitpick, most places (US-specific) have property taxes you have to pay every year, so even if you own your own home, you're paying something to someone every year for the right to have a roof over your head.
You're also (indirectly) paying those same taxes if you are renting, so it's not really a deciding factor in favour of either housing option.
I'm not arguing either way with that, just pointing out that our current system (in most of the US at least) demands that you pay someone to live no matter how you do it
Well, yeah, but the amount you're paying goes down dramatically after some time if you're buyer compared to renting.
90+% of people in China own their own homes, and a lot of that is apartments. Not treating housing as a financial instrument doesn't mean "everyone rents"
We need shelter, but our governments have stopped ensuring it's attainable.
Tax policy encourages people to treat their home as an investment by exempting it from capital gains. Other tax policy has made the construction of rental units less attractive to developers. Our federal, provincial, and municipal governments stopped building affordable and low income housing. (There's also the zoning/NIMBY crap, but that's been discussed to death)