Something I have come to realize is that most narratives of Americana are pushed to benefit a particular market segment. You have proposals for Zales, football for beer, and country living for trucks. They all seem so wonderful, the makings of a dream for the working man. Just spend a little money.
I have another to add on the list: buying a home. Despite loads of banking propaganda, the reality is a whole lot less satisfying than it seems. High costs, unit problems, and finding one you actually like.
As I go through the process myself, I am calling into question most claims made by the scruffy promoters. Houses don’t seem to be assets, because they’re either too expensive to pay by yourself, or too small to have appreciation potential.
Want to rent it out? Better check with the HOA or neighborhood watch. And don’t get me started on municipal laws. It all becomes a heartache.
Stumble upon a dream model? Too bad, it has an antiquated heating system, outdated septic, or some fat foundation crack. But the list price is still high, and you have enough competition to make the bidding tight.
In the event regular houses are off the table, you face townhomes and condos with astronomical fees, sometimes over $600 monthly, just to live there. Rest assured it is a “starter home,” however.
Maybe I’m just too crotchety for 2019, but holy closing costs. What happened to the American Dream?