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I disagree, a mortgage is a forced savings! And your link up there or whatever it is is humbug!
bobkelly wrote:Forget the common wisdom about home-buyers' tax advantages: Your new home will be a liability. That new home of yours won't generate income or capital gains for you until the day you sell it — if then. It will, however, be sucking money from your bank accounts every single month. Electrical bills and utility bills may also increase, and dramatically. Mortgage payments will almost certainly be larger than your previous rental payments. And now you'll have to worry about your home's lawn maintenance and roof maintenance and electrical maintenance and . . ..
bobkelly wrote:Forget the common wisdom about home-buyers' tax advantages: Your new home will be a liability. That new home of yours won't generate income or capital gains for you until the day you sell it — if then. It will, however, be sucking money from your bank accounts every single month. Electrical bills and utility bills may also increase, and dramatically. Mortgage payments will almost certainly be larger than your previous rental payments. And now you'll have to worry about your home's lawn maintenance and roof maintenance and electrical maintenance and . . ..
@Anonymous wrote:Forget the common wisdom about home-buyers' tax advantages: Your new home will be a liability. That new home of yours will not generate income or capital gains for you until the day you sell it — if then. It will, however, be sucking money from your bank accounts every single month. Electrical bills and utility bills may also increase, and dramatically. Mortgage payments will almost certainly be larger than your previous rental payments. And now you'll have to worry about your home's lawn maintenance and roof maintenance and electrical maintenance and . . ..
Message Edited by bobkelly on 07-02-2007 09:37 PM
@MidnightVoice wrote:
@Anonymous wrote:Isn't there anybody in these message boards who instead of raising their FICO to get into more and more debt, wants to BE DEBT FREE?!?!?!
Hmmmm. I am tempted be less than supportive But I will refrain