Home sales have been breaking records during the coronavirus pandemic, spurred by record-low interest rates and the geographic flexibility afforded by remote working arrangements. But is purchasing a home a no-brainer? Ramit Sethi doesn’t think so. Sethi, the author of the best-selling personal finance book, I Will Teach You to Be Rich, and the founder of Iwillteachyoutoberich.com and Earnable, was a recent guest on the podcast The Long View. In a wide-ranging conversation, he discussed the role of homeownership in a financial plan, as well as his goal to focus financial planning on aspirations rather than spreadsheets and net worth statements. This excerpt from the interview has been lightly edited.
Christine Benz: I want to talk about homeownership. You have argued that many people overemphasize homeownership as a component of a successful financial life. And it’s definitely hard to argue that homes are always great investments, but they are