264: Why A House Is Not An Investment
Should you buy a house? What would you do if I told you a house is a terrible investment? Buying a house makes you lose mobility and during the last 100 years, adjusted for inflation, the average home has gone up 1%. If it doesn't make you money don't buy it. The U.S. Census Bureau came out with a new report showing the fastest growing cities in America with cities in the south—specifically Texas and Florida—growing at the fastest rate. You need to be in a position to be able to move where the money is.
1)Houses are a bad investment 2)Buy things that make you money 3)A house is a liability 4)You need to have the ability to move quickly to follow opportunity
I talk in black and white terms a lot, so keep in mind there are always exceptions to rules—but don't go and buy a home!
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