Let's say you buy a house, the first years most of your payments go to interests, then 10 years later for whatever of the reasons you mentioned above, you repeat the same mistake of buying another house... You never have time to build any equity, and all your money just went down to the toilet over and over including your down-payments.
That's why buying a house to live in it as a long term strategy is a rip off. The only way a house can become an asset is if you buy and rent it to someone to get some monthly cash flow after all your expenses are covered, or to flip it for a 1 time capital gain.
Other than that, buying a house is the biggest liability people have in their lifetime.
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Quality take Lulita. Yep, rentals with positive cash flow is the only way a house becomes an "asset".
And when people 1031 exchange/upgrade after a few years they are just increasing their liability without reaping monetary profit. Great points.
Thanks for adding your thoughts.
The 1031 exchange helps with taxes if it is used correctly.