On top of that, renters get to externalize all the risks that comes with owning. As a renter, there can be no illusion of financial security provided by our housing,” he writes. “It also takes away the mortgage payment as an excuse to let ourselves off the hook for not being more active on financial planning. He’s here to show you don’t have to drink the Kool-Aid to prosperīut to Avery, it’s an opportunity: renters have a very clear understanding of how much of their income they’re spending on housing. The unconditional support for home ownership seems so absolute, writes Avery. That thought - that you walk away with nothing - is precisely what frightens people into getting a foothold on the property ladder at their first opportunity, even if it means overextending themselves financially. “The beauty of renting is that the rent you pay is very transparently 100-percent consumption, with no residual value - you walk away with nothing.” What are the benefits of renting? It makes financial planning much more simple and straightforward, Avery says. He’s here to show you don’t have to drink the Kool-Aid to prosper. “The unconditional support for home ownership seems so absolute,” writes Avery. The Wealthy Renter is largely about the cult of homeownership in Canada. He’s been a landlord and a renter, but he and his wife decided to buy after they had kids. Author name & bio: Alex Avery is an analyst at CIBC, heading up their North American real estate research team.
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