> my mother lives in a rental apartment that my family has been in since 150 years ago.
Wouldn’t it have been better to just buy property in that area? 150 years ago was 1874 - that’s many an economic cycle and the homesteading act was still a thing then.
I find it hard to believe that renting was the best play here. Unless (cost of house/cost of annual rent) was always 16+, then maybe.
it's close to the center of the city. the only properties were large buildings with multiple apartments. so no. it would not only not have been better, it would simply not have been possible without moving out of the city, if it was possible at all.
which i think it wasn't because in the 19th and early 20th century all property was owned by aristocratic families. and you either had property to begin with or you never could get any unless someone with property gave some of theirs to you for some reason. then came the world wars and by the time buying property became possible it probably wasn't affordable by many.
i also seem to remember that rent was very low for a long time. though it raised quite a bit in recent decades.
Wouldn’t it have been better to just buy property in that area? 150 years ago was 1874 - that’s many an economic cycle and the homesteading act was still a thing then.
I find it hard to believe that renting was the best play here. Unless (cost of house/cost of annual rent) was always 16+, then maybe.