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ibjames.
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January 30, 2008 at 1:38 PM #145679January 30, 2008 at 1:40 PM #145344
CoronitaParticipantYou seem to make the assumption that everyone who has the extra cash is going to prudently sock it away. The reality is that in a credit card society most people would not be a prudent with the additonal money they have. Therefore homeownership creates a forced saving for many people. Now I know that many will argue that Equity lines and other tools can be tapped into against the home but I would argue there are more who buy homes in the hopes of simply paying them off and being debt free.
Bingo. This “leakage” is always underestimated
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]—– Sour grapes for everyone!
January 30, 2008 at 1:40 PM #145585CoronitaParticipantYou seem to make the assumption that everyone who has the extra cash is going to prudently sock it away. The reality is that in a credit card society most people would not be a prudent with the additonal money they have. Therefore homeownership creates a forced saving for many people. Now I know that many will argue that Equity lines and other tools can be tapped into against the home but I would argue there are more who buy homes in the hopes of simply paying them off and being debt free.
Bingo. This “leakage” is always underestimated
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]—– Sour grapes for everyone!
January 30, 2008 at 1:40 PM #145612CoronitaParticipantYou seem to make the assumption that everyone who has the extra cash is going to prudently sock it away. The reality is that in a credit card society most people would not be a prudent with the additonal money they have. Therefore homeownership creates a forced saving for many people. Now I know that many will argue that Equity lines and other tools can be tapped into against the home but I would argue there are more who buy homes in the hopes of simply paying them off and being debt free.
Bingo. This “leakage” is always underestimated
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]—– Sour grapes for everyone!
January 30, 2008 at 1:40 PM #145624CoronitaParticipantYou seem to make the assumption that everyone who has the extra cash is going to prudently sock it away. The reality is that in a credit card society most people would not be a prudent with the additonal money they have. Therefore homeownership creates a forced saving for many people. Now I know that many will argue that Equity lines and other tools can be tapped into against the home but I would argue there are more who buy homes in the hopes of simply paying them off and being debt free.
Bingo. This “leakage” is always underestimated
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]—– Sour grapes for everyone!
January 30, 2008 at 1:40 PM #145685CoronitaParticipantYou seem to make the assumption that everyone who has the extra cash is going to prudently sock it away. The reality is that in a credit card society most people would not be a prudent with the additonal money they have. Therefore homeownership creates a forced saving for many people. Now I know that many will argue that Equity lines and other tools can be tapped into against the home but I would argue there are more who buy homes in the hopes of simply paying them off and being debt free.
Bingo. This “leakage” is always underestimated
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]—– Sour grapes for everyone!
January 30, 2008 at 2:01 PM #145348JWM in SD
ParticipantJWM in SD
“The reality is that in a credit card society most people would not be a prudent with the additonal money they have. Therefore homeownership creates a forced saving for many people.”Oh silly Raybyrnes, come on, you should know better by now.
Living beyond one’s means is voluntary, not compulsory. I think the problem that Bugs was trying to lay out was that a house purchased in 2005 in a bubble zone, is going to be a depreciating asset / non performing asset for the forseeable future. It won’t be forced savings, it will forced loss instead…at least until this deflation /inflation cycle runs it’s course fully. That may be a long unfortunately.
January 30, 2008 at 2:01 PM #145590ParticipantJWM in SD
“The reality is that in a credit card society most people would not be a prudent with the additonal money they have. Therefore homeownership creates a forced saving for many people.”Oh silly Raybyrnes, come on, you should know better by now.
Living beyond one’s means is voluntary, not compulsory. I think the problem that Bugs was trying to lay out was that a house purchased in 2005 in a bubble zone, is going to be a depreciating asset / non performing asset for the forseeable future. It won’t be forced savings, it will forced loss instead…at least until this deflation /inflation cycle runs it’s course fully. That may be a long unfortunately.
January 30, 2008 at 2:01 PM #145618ParticipantJWM in SD
“The reality is that in a credit card society most people would not be a prudent with the additonal money they have. Therefore homeownership creates a forced saving for many people.”Oh silly Raybyrnes, come on, you should know better by now.
Living beyond one’s means is voluntary, not compulsory. I think the problem that Bugs was trying to lay out was that a house purchased in 2005 in a bubble zone, is going to be a depreciating asset / non performing asset for the forseeable future. It won’t be forced savings, it will forced loss instead…at least until this deflation /inflation cycle runs it’s course fully. That may be a long unfortunately.
January 30, 2008 at 2:01 PM #145629ParticipantJWM in SD
“The reality is that in a credit card society most people would not be a prudent with the additonal money they have. Therefore homeownership creates a forced saving for many people.”Oh silly Raybyrnes, come on, you should know better by now.
Living beyond one’s means is voluntary, not compulsory. I think the problem that Bugs was trying to lay out was that a house purchased in 2005 in a bubble zone, is going to be a depreciating asset / non performing asset for the forseeable future. It won’t be forced savings, it will forced loss instead…at least until this deflation /inflation cycle runs it’s course fully. That may be a long unfortunately.
January 30, 2008 at 2:01 PM #145691ParticipantJWM in SD
“The reality is that in a credit card society most people would not be a prudent with the additonal money they have. Therefore homeownership creates a forced saving for many people.”Oh silly Raybyrnes, come on, you should know better by now.
Living beyond one’s means is voluntary, not compulsory. I think the problem that Bugs was trying to lay out was that a house purchased in 2005 in a bubble zone, is going to be a depreciating asset / non performing asset for the forseeable future. It won’t be forced savings, it will forced loss instead…at least until this deflation /inflation cycle runs it’s course fully. That may be a long unfortunately.
January 30, 2008 at 2:06 PM #145359Raybyrnes
Participantpatientlywaiting
Tell you what pw. You keep saving up until you have enough cash to avoid having to borrow money for you home.
I on the other hand will gladly pay 6% to a partner on my transaction to take on the majority of the risk.
January 30, 2008 at 2:06 PM #145600Participantpatientlywaiting
Tell you what pw. You keep saving up until you have enough cash to avoid having to borrow money for you home.
I on the other hand will gladly pay 6% to a partner on my transaction to take on the majority of the risk.
January 30, 2008 at 2:06 PM #145628Participantpatientlywaiting
Tell you what pw. You keep saving up until you have enough cash to avoid having to borrow money for you home.
I on the other hand will gladly pay 6% to a partner on my transaction to take on the majority of the risk.
January 30, 2008 at 2:06 PM #145640Participantpatientlywaiting
Tell you what pw. You keep saving up until you have enough cash to avoid having to borrow money for you home.
I on the other hand will gladly pay 6% to a partner on my transaction to take on the majority of the risk.
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