What is your thesis on why young adults should avoid buying residential real estate?
Replied byMichael Saylor
Founder & Chairman at MicroStrategy
Niche: Cryptocurrency
Revenue: Approx. 40 Million USD/month
Location: Tysons Corner, Virginia, United States
Started: 1989
Buying a home is often a debt trap. With high mortgage interest rates, property maintenance costs, insurance, and a two percent property tax, you end up paying the entire cost of the house to the government in tax every few decades. It is not an efficient store of value.
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