You guys!! You’re forgetting you can write off you interest!!! 😉
I hear that from so many people.. as if that’s going to put me into the market.
It’s sad to think that an interest only loan satisifes some people’s ‘pride of ownership’ when it seems they all they really have is an option to sell.. lots of risk and very little upside at this point..
Learning about stock options really helped me get over the pride of ownership aspect.. Example I used to hold about 70% of my savings in stocks(I know, I know risky).. but a few months ago I sold everything off except for my gold fund and bought options.. I love options, because I can set the max amount I’m willing to lose up front(maybe not a winners strategy, but I’m very skittish in todays markets)… The options are far more volatile and with the type of speculation I’m into the gains can be incredible.. I know everyones invesmtment objectives are different, and every scenario is different.. but the basic idea applied to housing I think can help people get over the illusion about desiring ‘pride of ownership’..
I feel alot more comfortable holding options than I do the entire stock.. It sastifies my need to sort of sit on the sideline hiding and strike quick when I want to… it’s taught me alot about the drawbacks of and illusions of owning something.. well, that and my car.. that was another good lesson.. how have our cars seduced us into paying interest on them even though they are depreicating?? Isn’t that the antithesis to investing!! I have a feeling that alot of people are going to learn that lesson in the next few years….
