Increase in house value earned more than median worker income last year. Most workers don’t own their own homes. The two titles say different things, the headline being false.
It also doesn't account for the grand majority of people who finance their homes and have only partially paid that off. If the bank can kick you out of your home with the violence of the state should you fail to make a couple of payments, then I'm not really sure how genuine it is of us to call that "home ownership." Sure, both in practice and in principle there are differences in the way mortgaged property vs rented property works, but I find it suspect after the 2008 crash and we realized just how many "homeowners" were in a more tentative position than they thought.
Increase in house value earned more than median worker income last year. Most workers don’t own their own homes. The two titles say different things, the headline being false.
Alternate headline: capital outpaces you yet again, work till you die.
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It also doesn't account for the grand majority of people who finance their homes and have only partially paid that off. If the bank can kick you out of your home with the violence of the state should you fail to make a couple of payments, then I'm not really sure how genuine it is of us to call that "home ownership." Sure, both in practice and in principle there are differences in the way mortgaged property vs rented property works, but I find it suspect after the 2008 crash and we realized just how many "homeowners" were in a more tentative position than they thought.
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The hard part of homeownership is clearing the downpayment and mortgage approval.
After that it's literally cheaper than renting, and only half of what you pay is lost to the bank.