‘‘Some people never learn.” So says Catherine Rampell of The Washington Post, who joined the trendy chorus of homeownership naysayers in her column in The New Mexican (“Home investment? Not always best,” April 23). She argues that stock market investment is so much smarter than home purchase and that anyone who thinks otherwise must be the prisoner of an uninformed fetish.
There are many problems with this argument, the first of which seems so obvious. You can’t live in the stock market. Most American families don’t start their monthly budgets by contemplating where to invest their vast riches. Instead, they start by allocating money for their basic human needs, the most expensive of which is typically housing.
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