I know I’m supposed to want it to keep going up as a wealth generator or whatever.

But like… I wouldn’t be able to afford the monthly payments if I bought my house right now and it’s scary. Also none of my friends are buying homes, none of them are even renting full places. Just like renting rooms.

So what are your feelings home owners of lemmy?

  • Humanius@lemmy.worldEnglish
    9·
    9 months ago

    Additionally, if overall house prices go up that does mean that your house becomes more valuable.
    However, it also means all other houses become more expensive.

    So in practice, if you want to move in 10-20 years for whatever reason, it essentially means nothing that your house has gone up in value. All that extra money is going to go to another house which has equally gone up in value.

    The value of a house going up means you are technically building wealth, but that wealth is entirely tied up in the house itself. Unless you are intending to become homeless it likely will stay tied up in your house forever.

    House prices going up is mostly a good thing for investors. Not so much for people who simply want a place to live.