U.S. gross rental yield is usually higher than Singapore, for a comparable location. Therefore, compared to China or Singapore, it’s more important for U.S. residents to earn rental and avoid paying rental. When you rent out, the pTax burden is transferred to tenants.

I have always believed that “mortgage expenses are investment-like but rent expenses go down the drain”. This is esp. true in a (gradually) rising market.

Imagine you pay mtg interest just to hold the property, with only 5% of your monthly payment going towards 0.1% of the principal, and you rent out the home? This payment is similar to pTax. Virtually you are paying a rent to hold the asset hoping to benefit from appreciation and rental income.

How about a co-op, assuming sublet freedom? The coop HOA is just like the “rent” I described above