To: goldstategop
A home is really a liability, so it shouldn’t be looked upon as an “investment” at all. If you live in it for a long time and sell it for a lot more money than you paid for it, then great. If you live in it for a long time and don’t make any money on it, then it just served its purpose as a place to live.
12 posted on
10/08/2007 10:12:34 AM PDT by
Alberta's Child
(I'm out on the outskirts of nowhere . . . with ghosts on my trail, chasing me there.)
To: Alberta's Child; goldstategop
A home is really a liability, so it shouldn’t be looked upon as an “investment” at all. If you live in it for a long time and sell it for a lot more money than you paid for it, then great. If you live in it for a long time and don’t make any money on it, then it just served its purpose as a place to live. Rich Dad, Poor Dad:
What the Rich Teach Their Kids About Money-
-That the Poor and Middle Class Do Not! This book will tell you some things that you don't want to hear like a house is not an asset. That financial literacy is different from educational literacy. That your income is not your wealth. Investors are different from savers and so on.
35 posted on
10/08/2007 5:35:22 PM PDT by
conservatism_IS_compassion
(The idea around which liberalism coheres is that NOTHING actually matters except PR.)
To: Alberta's Child
Your home is an assest.... to the mortgage banker.
It’s something he has an interest in that is generating positive cashflow - for him.
Be the bank.
41 posted on
10/09/2007 10:51:10 AM PDT by
MrB
(You can't reason people out of a position that they didn't use reason to get into in the first place)
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson