Whenever there’s a debate about owning versus renting, one of the most common rebuttals against owning is not wanting to fix a toilet. The excuse is so commonly used that it has definitely become cliché.
Given we know that homeowners have a median net worth ~40X that of renters, it got me wondering whether there’s something more behind the cliché that makes renters deny the positive financial realities of homeownership over the long run.
Could it be that those against homeownership secretly wish they could afford a home of their own, but can’t because they aren’t willing to control their spending or take on extra work outside of their day job? Instead of making some sacrifices, are they trying to debase homeowners with an activity that’s supposedly beneath them? Maybe!
Every time someone uses the “fix the toilet” reason, I start to wonder what’s so hard about replacing some parts in the water tank or using a plunger? Janitors make well over $200,000 a year here in San Francisco. Are those against real estate arrogantly implying that being a janitor is not as honorable of a job? Perhaps.
I hypothesize those who aren’t willing to do the dirty work are the ones who will never earn or accumulate much more than the median income or net worth. Let’s debate!