I've always felt super guilty wasting money on rent, instead of investing in an appreciating asset. So what I never understood was why more recent grads making decent money don't invest in their own studio apartments or something for ~$200k-450k?
I'm moving to Manhattan in the summer and am considering biting the bullet and mortgaging a studio. Obviously there's the fun social benefit of living with friends post-grad, but why else wouldn't young professionals with the means invest in their own places? Personally, I probably won't stay in NYC forever, but it would definitely be ideal to eventually lease out the spot and build my net worth.
Would love to hear everyone's thoughts -- cheers.