But I would not knowingly overpay for a house just to have the privilege of amortizing the cost over a long period of time, because that would detract from my enjoyment.
The art of the deal can bring as much enjoyment as the ownership of the asset itself.
Some folks have argued that it’s OK to overpay and that a generation in future, it won’t matter any more.[/quote]
Overpaying is different for you and I. I’m paying less in PITI for my place than renting the same thing. I’m paying ~1994 inflation adjusted monthly payment. That’s not over paying in my eyes. So, no, it’s not detracting me from my enjoyment. It’s boosting my enjoyment knowing I’m paying less every month that I would be renting.
