Real estate is still the best investment you can make today, millionaires say—here's why (via CNBCMakeIt)
"Most millionaires I know made more money from owning real estate than any other investment. Real estate consistently increases in value over time and outperforms other investments.
Plus, it isn't as vulnerable to short-term fluctuations as the stock market. You get a tangible, usable asset, whether you're renting out an apartment or commercial building for income or buying a home. And there can also be tax benefits for investment properties. It's always a good time to buy real estate. In fact, the real wealth is made by buying when everyone else is selling and vice versa. While many are talking about a recession, the market is strong, with increasing prices and transactions.
Renting a one-bedroom apartment can cost $5,000 a month in certain neighborhoods today, yet you can buy a $1 million house with just $4,000 a month in mortgage payments. And the rate is fixed for 30 years — the best kind of rent control. So why would you rent? Besides, if you rent your property to someone else, you can cover your mortgage or better."
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