Renting Vs. Buying Myths

eFinance Directory has an interesting article about the myths of renting a house versus buying a house. One that caught my attention was Myth #4: Buyers have assets, renters do not. The last paragraph sums it up (emphasis mine):

Renters may not co-own a home with a lender, but this doesn’t mean that they don’t have assets. Many renters have a large and prosperous portfolio, Star Wars collectibles (just an example) and other assets that can be sold IMMEDIATELY for cash. The reason they own these things is because they haven’t been paying a lender to ‘rent’ money so that they could pretend like they own an asset.

Wow, that last sentence is rather blunt and unfortunately, accurate.

Via Kottke.

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appointive
appointive
appointive
appointive