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Help buying first home

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  • #46
    Originally posted by CalMD View Post
    When I was a resident, the most valuable resource was time. There was barely enough time to sleep and study. So I rented a one bedroom apartment across the hospital. The commute consisted of walking across the hospital parking lot. This saved me much time, gas, not to mention avoiding traffic in the Los Angeles area.

    I saved the extra and invested. IRA at that time only had $2000 limit so I opened also a taxable account. My cost basis for AAPL was <$0.25.

    Would buying a house during residency turn out ok financially? Maybe. There are less time consuming ways to invest as a resident. Because a house is not portable and requires tending, the cost in time during residency was much too great and may not be a wise use of time.
    Good post, this is one of the most reasonable takes on the topic I've seen on the forum.

    Although I'm not sure "just invest in cheap AAPL stock instead" is actionable advice


    • #47
      This year housing prices are going way up and housing prices have gone above prior housing crash and affordability ratios are less and less. Yet there are endless articles about how the housing market will not have a downturn. People are going into great debt not just for housing but car loans, student loans, healthcare bills.
      To me it seems some of articles make sense , but also many are intentionally written by industry interests that highly profit from current housing situation.

      It will go down. What will trigger it Im not sure. But it can be events in the rest of the world economy, or military events or other forces.


      • #48
        Stop reading articles for adviceā€¦