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Dont your comparisons need to match.. if one is renting, then...

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QTess

135 Posts.

15/07/15

21:38

Post #: 15640564
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Originally posted by Forged ↑

"$50K in 1960 is worth a heck of a lot more than $500K today. If that was your house you would now be poorer."

I make my explanation easy to undestand, even kinder can. Lets say there are 2 people (QTess & AMrich)

Since 1960 QTess has been renting & never own a house. Today QTess has no asset wealth.

Since 1960 AMrich bought a house worth $50k. Today AMrich has an asset wealth worth $500k.

That's $500k difference in wealth ownership. With that money today (thanks to $50k house AMrich bought in 1960) he can live comfortably in retirement village with $500k after he sold the house.

But QTest will have a hard life in old age retirement village. Because he doesn't have $500k that AMrich has.

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Dont your comparisons need to match.. if one is renting, then the other needs to take out a interest only loan to be a comparison.

But I dont see the relevance to the topic? I think everyone knows if you buy a house you own it at the end
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