I mean you told us that for some reason you were paying well under market rent for your area, I have forgotten why he charged so little.
I raise the issue because you use that personal anecdote to explain away any reason to own a home.
I don't recall ever stating that I pay well under market rent in my area.
I am paying the going rate for a downtown ocean view condo (which has the added bonus of saving the wife and I from needing a second car).
As for my personal anecdote - I have pointed you to a link showing a chart which shows that real rents have been generally falling for decades.
If you were to look at the other charts in that link you would find that house prices, over the past decade or more, have been generally rising.
It's not my fault you are unable to relate a personal anecdote and compare it to statistic evidence to come to a conclusion.
There are times in people's lives to buy certain assets.
For me, that time meant buying a business.
Why not? Interest rates are cheap, the interest is tax deductible, and the ROI has been over 20%.
If I bought a home all I could say is that the interest rates are cheap.
No, I can buy a house in another year when the business debt is retired, I have my 20% down payment, and house prices are in my price range (3 times gross income, no more than 22 times rent).
They have been moving in the right direction in recent months so we will see if the trend becomes my friend.
If not, I'm not going to lose any sleep over it.
I've done the math and I will know when the time is right to buy a house - and a second vehicle.
Unlike many people, I understand and actually price out the entire cost of any major purchase.
You should see my spreadsheet for when I bought into the business.