Fact – Renting is distant 2nd choice most times.
“Stinkin’ thinkin” is the label Ken Fisher puts on buying a home verses renting. A truly pathetic pronouncement, especially coming from someone who claims to be an investment guru. Chain up your finances when this clown comes around.
In metro Phoenix, and likely also true in every area where there’s in-migration, the rent the tenant pays for a home totally pays for the property for the investor … pays the loan, insurance, taxes, maintenance, HOA and all other costs … PLUS puts cash in the owners bank account … PLUS the property is appreciating in value … PLUS there are tax write-offs for the owner
Mr. Fisher, guru sir, the renter is NOT in the better financial position here.
Might there be better “investments” than a residential rental? Maybe! But you’ve got to put that “roof over your head” first.
Are there some situations where renting is better financially? Yes! But only for a term of 5 years or less, or in a place where home values are flat or declining … where people would actually rather not be living.
Mr. Fisher is reported to be wealthy. I’ve got to believe his wealth came from people dumb enough to listen to him, then giving him their home down payment for “investments” that may, or may not, have paid off, while they made a landlord secure in his/her retirement.