Audio By Carbonatix
The issue of current housing costs in the Denver area remains a hot one — and so, too, is the debate about renting versus buying.
We recently posted about a RealtyTrac survey showing that renting a three-bedroom property was more affordable than paying the mortgage on one in three of five metro-Denver counties.
Plenty of readers felt this finding was hooey. But one questioned the common wisdom that buying a house is a great investment.
Here’s what he had to say.
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David Thead writes:
Your primary residence isn’t considered an investment for tax, accounting, or financial purposes. It doesn’t count towards your net worth as an investor either. It’s also a bad one….
If you invested the money you saved every year from not overpaying for a home, and invested it index based funds then your money would appreciate much faster than it would in a home.
Send your story tips to the author, Michael Roberts. For more memorable takes, visit our Comment of the Day archive.
