How is that for a loaded question? Do you think there is anyone who is in their right mind that would say no to that? Of course not.
Would it surprise you to learn that the average homeowner has a larger net worth than a person who rents their home? Probably not, but some people don’t realize that. You see, there’s this little thing called Home Equity, that is a large contributor to net worth. It’s simple. A homeowner borrows money to purchase a home, then makes payments on that loan. At some point, the loan is paid off and the home is owned free and clear. And the home has value.
A person who rents also pays a mortgage. But it’s not their mortgage, they pay the landlords mortgage. And at some point in time, the tenant pays off the landlords mortgage. And the landlord has a home free and clear with value. What does the tenant have? A stack of cancelled checks.
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