You never really OWN a property in the US. There never comes a day when you don't have to make government payments on that property anymore. If you don't pony up every year they will seize it for payment. It's like renting but you can have a dog [licensed] and paint the bedroom purple; unless you bought in an HOA then you can't do that either.
Renting has other advantages, if the neighbors become shit and you hate the place, with 30 days notice you can pack up and go somewhere else, you're not stuck with the financial burden of a house with bad neighbors.
Believe me, even if you live out in the country there are bad neighbors. And if they too own their property they are probably never leaving, and they will piss you off for the next 30 years.
Even with real estate, as others have said, you still have to worry about property taxes, so if you can't afford to pay $1000 for toilet paper, you can bet that many of these homeowners are going to lose their property from unpaid property taxes when the value of the home increases exponentially.
Property taxes in many places can only increase x% per year. They can't simply follow the market or whatever the corrupt property appraiser deems your home is worth.
You never really OWN a property in the US. There never comes a day when you don't have to make government payments on that property anymore. If you don't pony up every year they will seize it for payment. It's like renting but you can have a dog [licensed] and paint the bedroom purple; unless you bought in an HOA then you can't do that either.
Renting has other advantages, if the neighbors become shit and you hate the place, with 30 days notice you can pack up and go somewhere else, you're not stuck with the financial burden of a house with bad neighbors.
Believe me, even if you live out in the country there are bad neighbors. And if they too own their property they are probably never leaving, and they will piss you off for the next 30 years.
Even with real estate, as others have said, you still have to worry about property taxes, so if you can't afford to pay $1000 for toilet paper, you can bet that many of these homeowners are going to lose their property from unpaid property taxes when the value of the home increases exponentially.
Property taxes in many places can only increase x% per year. They can't simply follow the market or whatever the corrupt property appraiser deems your home is worth.