Comments by "Harry Mills" (@harrymills2770) on "All China’s Efforts to Stabilize Housing Prices Have Failed! No Buyers Even for Homes at $2,000" video.

Why is this a huge hardship, if you made sure you could afford your house payments before buying? If my house dropped in value, the only thing that would affect me is my property taxes would go down. Why would you buy a house you want to move out of in 2 or 3 years? That's a bad decision, regardless of market fluctuations. I can see where it would be a hardship if you suddenly had a life change and had to move. But if you bought the house to live in, long term, you might have some buyer's remorse, due to paying too much, but you shouldn't otherwise be affected, and you should have a mortgage that you can afford, else why make such a commitment?
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@butwhytharum Even if prices are stable, it's very much to your advantage to own rather than to rent, if you're planning on staying at least 5 years in the same place. You actually get back some of your "rent money" when you sell, and you usually get "more house" if you buy, rather than rent, for the same monthly cost.
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@dontcare7086 Home ownership is the #1 investment most Americans make. It's a long-term investment, not something most of us do in order to make money by re-selling, which is highly speculative.
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@butwhytharum I was just saying how it worked from a home-owner's perspective. You're right about runaway inflation of property values. We get stuck with higher tax bills. But on the other hand, when prices spike, we can extract maximum cash from the sale if we choose to sell. I think property taxes discriminate BIG-time against poor people who own property. The government doesn't want you living off your own land. It wants you working full-time and paying income taxes. The primary purpose to which property taxes are supposedly put is to fund the public schools. I'm against the current public school system and its means of funding. We live in a time when quality education can be delivered at far less cost than ever before. But it's more expensive than ever before, and the overall quality is less.
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