First Home Accounts
Leverage tax-deductible contributions and tax-free withdrawals (FHSA in Canada, HSA/401k tools in US) for qualified home purchases.
Module 14 · Applied Decision Framework
Housing vs. Market Investing
Compare real estate ownership with market investing without hype. Evaluate FHSA/HSA tax rules, mortgage interest rate dynamics, and unrecoverable housing costs.
Core Framework
Understanding unrecoverable costs.
Both renting and owning involve unrecoverable costs. Rent is the cost of shelter; homeownership unrecoverable costs include property tax, maintenance, interest, insurance, and transaction fees.
Equity vs. Liquidity
Real estate locks up capital in illiquid property, while market portfolios remain flexible and diversified across global sectors.
Rate Impact
Higher mortgage interest rates increase the unrecoverable cost of ownership, changing the math between home equity and index investing.
Rent vs. Buy Unrecoverable Cost Check
Compare annual unrecoverable housing costs (interest + property tax + maintenance) with unrecoverable rent costs to see where your capital builds net worth faster.