DailyFinance's Nikhil Hutheesing asks Formula Capital's James Altucher why he thinks that owning a home is a bad decision.

Comments

    • Lisa DiConti
      Lisa DiConti

      But in a few years my mortgage pays off. I can retire early because I won't have the monthly mortgage pmts.

      about 4 days ago
    • Cosimo Kramarawicz
      Cosimo Kramarawicz

      Home ownership is a joke ! You never really own it and it can be taken away quickly .

      about 9 days ago
    • Jmunny Rulz
      Jmunny Rulz

      As a billionaire Ross Perot said this over 25 years ago... I believed it then and after owning a condo and home in my lifetime, I agree totally.

      about 10 days ago
    • Spencer Cooper-Thorn
      Spencer Cooper-Thorn

      Of course this is nonsense , if you never buy your home - you never have stability in where you live . I understand his methodology but but but , renting in the uk is so much more than a mortgage and is rising every year and what’s to say after your 6 month or 1 year rental contract runs out you are then forced to move and nothing is guaranteeing you home availability when your kids go to school or anywhere near your friend and family .

      about 12 days ago
    • Te Kooti Tom Anderson
      Te Kooti Tom Anderson

      Strategically invest the difference when renting. Your cash is then liquid and not locked into a 25+ mortgage. In days of yore, jobs were more secure. Today there's no guarantees you'll be the cradle to the grave employee. Whether renting or paying a mortgage you still will have to service either. The reason you own a home today is either luck or playing Russian roulette. Very few people hold a job down for likely 5-7 years. They move on, are made redundant, divorced, mortgagee sale,Wall Street crash, not covered by insurance, or some other freak of nature. Congratulations for making through the maze.

      about 14 days ago
    • Mark Anthony
      Mark Anthony

      Houses cost too much.

      about 15 days ago
    • Tria Vang
      Tria Vang

      I used to pay $1,200 renting a small room, now I only pay $560 owning my house!

      about 20 days ago
    • HaveBad Day
      HaveBad Day

      We can’t afford to buy homes because they are too expensive

      about 23 days ago
    • Louie The plumber
      Louie The plumber

      This guy needs tenants

      about 24 days ago
    • goldenpenny
      goldenpenny

      Don't listen to this guy; I 've been in USA for 30 without $ in my pocket; and I have two house one is for rental; the other one; that's where I stay with my family's. If I sell this rentaI have $300000 in my pocket and I can't save that for 30 years. My sister has 20 houses and they can retire if they want it and they are traveling yearly; they gamble three times a year in Vegas. Real estate is a good investment. This guy need to go to school.

      about 26 days ago
    • goldenpenny
      goldenpenny

      He don't know what he talking about; he's misleading people

      about 26 days ago
    • Mr Hollister
      Mr Hollister

      I agree with him and I’m a “homeowner”

      about 1 month ago
    • Karl Bassett
      Karl Bassett

      In the medium to long term this guy is talking rubbish. I bought my home twenty years ago. My monthly mortgage is now one sixth of what it would cost to rent my home today. And in five years rents will carry on going up and up while my mortgage payments will end and I can live here forever for just taxes, insurance etc which cost a fraction of the cost of renting. If you should be investing then I am the one who has far more space cash to invest because I am saving so much each month. In the short term, or you you think you are likely to move in a few years, then renting can be a good idea.

      about 1 month ago
    • Jenkins Moot
      Jenkins Moot

      people get annoyed for realizing they could've invested in other things

      about 1 month ago
    • Dominic Someone
      Dominic Someone

      Fuck these 2 choices. I'm living down my parents' basement

      about 1 month ago
    • william schaefer
      william schaefer

      In a word.....IDIOT!

      about 2 months ago
    • Matthew Herrera
      Matthew Herrera

      Oh god, would you listen to this fucker, trying to sound smart and shit.

      about 2 months ago
    • Ginger Ale
      Ginger Ale

      Everyone should stop paying taxes!!!!! Or else Nothing will ever change!!!! Own your home free from mortgage yet you still have to pay property taxes????? Don't pay and goons with guns come and kick you out ???NO! If people had the balls to shoot and 86 these goons! For protecting what you paid for this world would be a much wonderful place to live! As God intended it to be!!!!! But people will NEVER come together and fight these scumbags that have taken all the land that is Rightfully Ours!!!! We need to take it back!!!!!😠😠😠

      about 3 months ago
    • Pepper K
      Pepper K

      I agree with you sir. College and Homes both scam. They convinced the mass to must have them even if they cannot afford it lol
      I'm financially educated millennial. I rent now and invest $. Will only buy properties If im paying full in cash. No loans for me, not interested in spending my life paying interests.

      about 3 months ago
    • JMGRICH
      JMGRICH

      Dude, the average house price is 380k in Alberta. I don't ever see me being able to afford a house, I rent a basement for 850.00 a month which is the cheapest place to live I could find. The further out of the city you get here it gets more expensive, you gotta live way out in the boonies to buy a cheap 200k house, hours away from the city.

      about 3 months ago
    • Mario Remondino
      Mario Remondino

      Omg!!! What a play by the powers that be. Throwing away $12k a year in rent is just that. Throwing money away. A home that you “CAN” afford is a real physical asset. And the mortgage, utilities and insurance should be less cash out of pocket per month than rent. If you don’t buy a home what assets can you have that grow in value? Raw gold and silver is it. Your vehicle and collectibles won’t. Not like a house.

      about 3 months ago
    • Mister Miggs
      Mister Miggs

      I don't get why ppl paying a mortgage is thinking their winning. You start off in debt. When you finish paying off the debt you're paying property taxes, plus you have maintenance. Don't let your roof, water heater, furnace, sewage be an issue. I could see if you brought a house with cash. Like buying a used car.

      All rents aren't high, and you aren't STUCK with the property. The landlord is responsible for any issues. You just live there and your security deposit covers any fuckups you have 🤷🏽‍♂️

      America has pushed this homeownership thing down ppls throats. Plus who wants to live in the same house 30yrs later?

      about 3 months ago
    • TRAVISTEN COM
      TRAVISTEN COM

      I KNOW TOO MANY BROKE HOMEOWNERS WHO CANT EVEN MOVE BECAUSE WHERE CAN THEY AFFORD TO LIVE? AND THEY ACTUALLY THOUGHT THEY WOULD BE FINANCIALLY SECURED. REAL ESTATE IS NOT STOCKS, WHEN ONE HOUSE PRICE GOES UP, THEY ALL DO. YOU'RE GOING TO HAVE TO REFINANCE TO GET CASH YOU'LL HAVE TO PAY BACK LOL

      about 4 months ago
    • J&D Executive Recruitment
      J&D Executive Recruitment

      Those are Weak arguments, don’t have stress.

      about 4 months ago
    • Knowledge Sharing
      Knowledge Sharing

      So he owns a home but advising otherwise . Ummmm

      about 4 months ago
    • Curtis Allen
      Curtis Allen

      Who will take care of you when you not able to pay rent? Move with your parent, because they have there home, because you will never own a Hm with this injustice gov we have that deceived the people. Greedy with property tax etc.

      about 4 months ago
    • David Ortiz
      David Ortiz

      Lol yup it is a scam . Land of the FEE or else get ready to give your ass to the white collar Mafia

      about 4 months ago
    • John Fortes
      John Fortes

      Maintenance for a rental is INCLUDED in the rent-so are taxes & insurance! Most problems people have buying a home is they buy way more than they need! Keep simple and consider your home a savings account for retirement. OR pay rent and have nothing to show for it! Your land Lord SHOULD thank you for paying for HIS house and for building up his retirement !

      about 4 months ago
    • James DePass
      James DePass

      I bought land and built my own home. Debt-free.

      about 4 months ago
    • Manu-Camus
      Manu-Camus

      In big cities, rent is getting more expensive than a mortgage! Only an idiot will believe this, shameless assholes!

      about 4 months ago