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Warren Buffett's $31,500 House Is Now Worth $1.4 Million But He Says He Would Have Made Far More Money By Renting Instead
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2023 Nov 19, 8:12am 207 views 2 comments
by GNL ➕follow (1) 💰tip ignore
Comments 1 - 2 of 2 Search these comments
1
clambo
2023 Nov 19, 11:02am
Of course; the advantage of home ownership is intangible, not financial.
It's nice knowing what your expenses will be (except for tax increases).
You also won't be evicted, so you won't have to look for another place somewhere else.
I rented a cool place for decades and had reasonably low rent, so I invested a lot of dough.
I'm very happy with the results so far.
It's nice knowing what your expenses will be (except for tax increases).
You also won't be evicted, so you won't have to look for another place somewhere else.
I rented a cool place for decades and had reasonably low rent, so I invested a lot of dough.
I'm very happy with the results so far.
2
GNL
2023 Nov 19, 11:05am
GNL
2023 Nov 19, 11:05am
clambo says
I agree. Also, Buffet is a once in a lifetime(?) investor so, for him maybe this is true.
Of course; the advantage of home ownership is intangible, not financial.
It's nice knowing what your expenses will be (except for tax increases).
You also won't be evicted, so you won't have to look for another place somewhere else.
I rented a cool place for decades and had reasonably low rent, so I invested a lot of dough.
I'm very happy with the results so far.
I agree. Also, Buffet is a once in a lifetime(?) investor so, for him maybe this is true.
https://www.yahoo.com/finance/news/warren-buffetts-31-500-house-181400983.html
"In a 2010 letter addressed to his Berkshire Hathaway shareholders, Warren Buffett expressed his belief that homeownership is a sensible choice for most Americans. However, he also acknowledged that he would have made far more money if he had opted to rent and used the purchase money to buy stocks. The exact quote included in the letter to shareholders was:
"Home ownership makes sense for most Americans... All things considered, the third best investment I ever made was the purchase of my home, though I would have made far more money had I instead rented and used the purchase money to buy stocks."