Then what stops gov from taking the house from the landlord you rent from? š
Owning is always better than not.
Discussion
Owning a house is a bit like owning a car. Itās needs maintenance and there are associated running costs (bills, tax, etc) which can impact any equity increase (which is also constantly depreciating in real terms thanks to inflation). Renting can offload a lot of that to the owner. Itās also the perfect way to āregisterā with the government. Itās why govs all want you to own a house and do their utmost to try and support the property āmarketā. That all said, like a car, it feels like yours, and provides you some freedom and stability. Itās not always clear-cut that one is better than the other. I guess the ultimate is owning the land and the house, in a low/zero tax country, thatās all powered with personal solar/wind/hydro and has its own water source and some arable land. And perhaps a bunker and no/very few neighbours.
Why do people talk about homes and mention that need maintenance? This is so obvious. Stop treating a home like an investment. Its a roof for your family.
Like why are you talking about equity? Lol
Because they degrade and fail over time. (Plumbing, electrics, windows, roof, damp, etc). But I agree. A roof over your head is important. But that can be either rent or own. And many countries donāt view it as an investment. Itās crazy in the UK and US where thereās an expectation that it will generate equity. (Demand high low supply etc). But I know in parts of Europe for example the price of the house has barely moved in a decade.