I like it when you said selling your house leaves you homeless hahaha that just about sums it. Many people see goldmines in real estate investing and with the analysis you've done I'm just about changing my stance on it
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I can understand using the equity in your house to get a second property to rent and generate a return that services your debt or leveraging that loan to start a business that generates income, but just sitting on a house that's well over 50% of your net worth is a dumb idea.
Yet year after year people sell to buy a bigger house, in a nicer area drive themselves deeper into debt thinking they making a good investment, it baffles me sometimes
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Yeah it kinda baffles but then some people sees value in owning a house as their ultimate investment I guess this is because they have a lot of money to throw around. When better forms of investment lies in something even more profitable
In my experience from what I was taught and learn from talk with my peers they see it as a “safe” investment because it’s something tangible because they crippled by the thought of risk and don’t know how to handle money or actually being an active investor
They sit on savings and a home and lose money each year and that’s what banks want you to do
The miseducation of finance is done on purpose these myths are there thag a home is an investment because it benefits a select few