[quote=HLS]Never buy a house EXPECTING it to go up. Appreciation should be a bonus[/quote]
I think it will do a lot good to the society if everyone treats the house (except investment property, which is a business) as a consumption instead of investment. Realtors are still saying “house is the biggest investment in your life” (by the way, digress a little bit, I received tons of letters from the mortgage insurance companies that starts with the above sentence. I don’t know why anyone would buy mortgage insurance while they could buy life insurance that covers more than the mortgage amount). No, they should say: “Shelter cost is the biggest consumption in your life, buy at the low 30-year fixed rate to get it under control.”
