DC Housing Bear

Economic Conditions Force 27% To Put Homeowner Plans on Hold

"Similarly, the majority of homeowners see renting as a waste of money. Some 87% agree that over the long-term, paying rent for housing is like throwing money away, and 95% of homeowners would rather own than rent their homes."

This just goes to show up stupid and uninformed most people are and how the media continues to reinforce this misconception. Owning a home is usually a terrible "investment" if you can even call it that. If you run a simple cash flow it would be extremely clear why that's the case. Why people think paying interest to the bank isn't "throwing money away" as well is beyond me. If the current economic crisis is an indicator of anything its how most Americans are completely clueless about their personal finances and economic policy must take into account if we're to avoid these kinds of problems in the futures.