Why renting is a bad investment for most Australians
Renting is often a bad investment for most Australians, as it's an expense with no return, whereas owning a home can provide a growing asset and long-term wealth.
Full transcript
Just going through social media and I've got a comment from, now you're a slave for the next 30 years. What do you think rent is? Rent is an expense that you're paying week in and week out and getting no return.
Now, if you're using it for Low Deposit Homes' rent vesting, you're putting that money into something else, then okay, then it may be justified. But for 90% of the population, that is not the case. So you may as well get into the market, own your own home, have an asset that you're paying off, that house is going to continue to grow in value over the next 20, 30 years, but at least you have something to your name that's growing in value that you can leave your kids, leave your family and put yourself into the strongest position. So on this one, I think you're dead wrong.