The Wealthy Renter
How to Choose Housing That Will Make You Rich
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- $9.99
Publisher Description
A National Bestseller!
Why be house poor when you can rent rich?
“Why rent when you can buy?” More than any other, this phrase captures the overwhelmingly unanimous promotion of home ownership to Canadians. Real estate agents, mortgage brokers, family, friends, and even the government promote ownership as a safe, attractive, and sure-fire path to personal wealth. This one-size-fits-all advice ignores the reality of Canada’s housing market.
Canadians deserve better advice.
Faced with expensive house prices in a near-zero interest rate world, it’s time Canadians heard the virtues of renting and seriously considered renting as an alternative to home ownership. Real estate analyst Alex Avery insists renting offers a simple, more affordable way to live, plus in Canada’s frenzied housing market, going month-to-month is dramatically lower risk. He claims the reputation of home ownership as a wealth building strategy is unfounded and shows renters how to replace bricks-and-mortar with better investment opportunities.
PUBLISHERS WEEKLY
In this strong debut, Avery, an equity research analyst and leader of CIBC Capital Markets' real-estate team, draws on his expertise to challenge the adage "Why rent when you can buy?" He aims to demonstrate that, especially in today's housing market, owning may not be the best option for many Canadians. Avery begins by explaining that "rent" is something that all homeowners pay as well, even if it is not called "rent" per se. He then gets into the nitty-gritty of the Canadian housing market and breaks down not only how it works but why buying a house may not be as sustainable and certain an investment as it once was. Finally, he argues that informed renters can easily end up in better financial condition than homeowners. The book is sometimes repetitive, but Avery skillfully conveys his subject matter in an interesting and easily digestible manner, a laudable achievement given the sometimes complicated nature of the real estate and investment world. His friendly tone helps to make the book more readable. As one of the few guides specific to Canadian renters, Avery's fills an information gap and is a solid overall choice for anyone interested in Canadian housing options.
