From Afford Anything …
I’ve heard a lot of ridiculous statements. But perhaps the most absurd is the adage: “If you’re a renter, you’re throwing money away.”
Here are three popular arguments defending the “renting is throwing money away” myth:
- Rent is an expense. Mortgages build equity.
- Rent is forever. Mortgages end.
- Renters don’t benefit from rising home values. Homeowners do.
Let’s dismantle these, one-by-one.