Ask Paula: The stock market is down - Can I still retire?
Afford Anything
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Renting Is a Bad Investment, Right?
Renting is probably a better idea than buying, says Paul. He owns seven rental properties and collects rent from all the tenants. The bank made six percent when you bought your house; that was passed on to you 12%. When you sell it, that's two point three % every year to the state. So if you own the house 20 years, that's forty four per cent. And who's really making the money on that? The bank. Your house doesn't pay you, that makes it a bad investmentt my jet makes me more money than a house will rit cause it can get me places.
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