STOP Saving To Buy A House! Do THIS Instead
The Diary Of A CEO Clips · 商业与创投
Scientist-entrepreneur David Friedberg, co-host of the All-In Podcast and a member of the President's Council of Advisors on Science and Technology, argues that one of the most repeated pieces of financial advice in the world is actually one of the great lies: that buying a home is the path to wealth. Friedberg's core argument is that for many people, buying a house means putting nearly all of your capital into a single asset, one that comes with property tax, insurance, repairs, and maintenance. He contrasts this with simply owning the S&P 500, which you can buy through any brokerage account and which has historically returned around 10 to 11% a year, with no property tax, no insurance, and no upkeep. Over the last 30 years, he argues, a lot of people would have been financially better off owning the index than owning their home. He addresses the most common rebuttal head-on. Whenever this point is made, the top comment is always someone saying "I bought a house 20 years ago and did great." Friedberg says that actually reveals the problem: if your house went up so much in value, it's now far less affordable for the young person who has to buy it next. This is exactly what has happened. Policy after policy pushed residential real estate prices up, which made the boomer generation wealthy through home ownership, but has left young graduates unable to afford a home at all. And that, he argues, is fueling the rise of socialism, because a generation that can't afford a house starts asking why they shouldn't just take from those who have. Discover: • Why Friedberg calls home ownership "one of the great lies" • How owning the S&P 500 could beat owning your home • Why "I bought a house and did great" actually reveals the problem • Why unaffordable housing is fueling the rise of socialism • What Friedberg says the 63% living paycheck to paycheck should do • Why he believes the government won't save individuals • The "golden goose" analogy for why inequality is the price of