Being back from my very brief holiday respite and having had the chance to recharge my battery, I have to tell you I was really infuriated by all of the cable news stations while trying to relax at home. Their ways of reporting on everything from politics to finances, especially when we get a rare “slow” news day, sometimes is all about the unusual, weird, and often just plain hard-to-believe stories that defy logic. One such story aired on CNBC when it reported on: “Owning a home may help you save some money, but it won’t help you make money and build wealth”.
According to CNBC’s reporting, young people are better off taking control of their finances and renting than buying their home and relying on fluctuating home values based on the research findings of a recent study conducted by Florida Atlantic University, Florida International University and the University of Wyoming.
To my way of thinking that’s a bunch of BS, study or not. While it is certainly very true that young people just out of college and beginning their careers are probably not in a position to buy a home, their goal can and perhaps should be to do so once they are in a better financial place.Continue reading“Damn Those Skeptics: Owning a Home DOES Build Wealth”