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Alexis Leondis

Buy That House. Your Retired Self Will Thank You.

Standard personal finance advice says to save for retirement at all costs. But owning a home, despite the challenges, can make retirement more secure.

Do it for retirement.

Do it for retirement.

Photographer: Bloomberg

Traditional financial advice typically tells savers to put retirement first — even before homeownership. That’s because over the long-term, the stock market tends to outpace real estate and there are tax advantages to putting money in a retirement account.

But retired homeowners are in a much better financial position than their peers who have rented. So it might make more sense to encourage younger savers to prioritize buying a home, despite the very real challenges of high home prices and interest rates.