The title of this entry is both a proclamation and a political fact. The latter being rooted in the reality of property tax, homeowner fees, and the implementation of imminent domain. Property tax is basically another word for rent. Rather than paying a landlord, you pay the government. In some areas, you can even get a lien put on your home if you fail to pay the garbage bill.
The proclamation, however, came about more out of personal development than financial limitation. Or one could say a combination of both. I grew up in San Francisco in a modest home. As with a house, Issues arose. Roof leaks eventually happen, Termites will happen at one point. Both of those issues can be massively expensive.
We eventually had to replace the electrical system and insulation, which helped expedite the sale of the house later down the line.
In short, the house was a heavy source of stress. As I’m sure is the case with other homes. I grew up watching that and knew on some level I wanted none of that. When the house was sold, I took the money and picked up a bank repo home down south. hours after closing, I knew almost immediately that it was a bad decision, but years of materialist indoctrination and consumerist influence gave me a false sense of security in my decision.
I would eventually sell the home, as I didn’t even want the responsibility of being a landlord (I’ve seen the hell THEY go through), soon after the sale, I would have time to slow down and process the previous year’s events, which would ultimately send me into a year long-isolated depression.
Let’s explore a few things about homeownership. Being a former homeowner, both mobile and stationary, I can honestly say that homeownership, in my opinion, is more of a status symbol at worse and a semi risky cash cow at best. The latter being the fact that you could opt to become a landlord and let a renter pay your mortgage. But what happens when a tenant doesn’t pay rent? I’m sure the bank doesn’t care if a landlord’s tenants have decided to stop payment. And let’s not even get started on the major financial hit a landlord can take if he actually has to evict someone. An eviction once even took 14 months to complete. I also know of a landlord who can’t come to his home due to a tenant putting a restraining order on him…His own home.
At the end of the day, My opinion of homeownership isn’t a bad one. House flipping, for example, is a pretty good hustle, in my opinion, That’s if you clear more in profit than your investment. Renting your property is good if you are lucky and blessed enough to find a golden tenant. One who pays on time, in full, and respects the property.
Two things in the American dream I don’t regret not participating in; having kids and owning a home.