Don't Buy a House Advice from Influencers, real or not?
By Peter Tamura, BANNOCHIE TEAM
(Coldwell Banker Select)
If you watch certain financial influencers, they will specifically say, "Don't buy a house" or "a house is not a good investment. These include Ramit Sethi, Morgan Housel, and Robert Kiyosaki who famously says, "A house is not an asset," despite owning according to him around 16,000 units. He also completely ignores the accounting equation of Asset=Liabilities + Equity, or he just creates his own definition of what an asset is.The value for the average household in the US (US Census 2021) of their real estate holdings, equity in their own home, rentals plus other is around 36% of their net worth. The census excludes wealthiest 1% as it tends to skew the results. So, is it responsible for an influencer to make such blanket statements of an asset class that represents a substantial portio...
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