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Exactly, there is an effective rent for owning a home, even if it's entirely paid off.

The taxes you must pay, the insurance on the property, and the upkeep for maintenance (amortized roofing expenses/AC units etc).

I have family members that are ecstatic when their property value increases, because they love the idea of being people who live in a very valuable home.

But this is the only home that they have. And then their taxes go up. In order to cash out their "investment" they have to move. Which means, if they don't rent, buying back into the same over-inflated market. It's a wash, and the only thing that changes is the amount of money they are paying in taxes.




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