Why is the rising cost of housing considered “good” for homeowners?

Question

I recently saw an article which stated that for homeowners “their houses are like piggy banks.” But if you own your house, an increase in its value doesn’t seem to help you in any real way, since to realize that gain you’d have to sell it. But then you’d have to buy or rent another place to live, which would also cost more. It seems like the only concrete effect of a rising housing market for most homeowners is an increase in their insurance costs. Am I missing something?

In: 1833

Answer 1

Increase in property tax, increase in HOA costs, increase in utility costs, decrease in home accessibility… it benefits the old and corners the young into renting. Rising rent, just makes it not worth it