If you don't own a home by your 40s, you never will. And you'll end up poorer than those who do.; Silly bears who think they can rent their way to wealth are only fooling themselves...
Tweet Topic Started: 10 Oct 2016, 07:29 AM (8,619 Views)
Similarly, owning a house doesn't make necessarily make a suburbanite richer than another without a house.
Necessarily? Sure Roddy - it's not a cast iron guarantee. But for the vast majority of people, home ownership results in greater wealth generation than a lifetime of renting.
"The truth is that there are no good men, or bad men. It is the deeds that have goodness or badness in them. There are good deeds, and bad deeds. Men are just men."
Oh yeah great advice Golly, people should wait until they are old to take on a mortgage.
No, the clueless should definitely rush out and get one as soon as they can legally sign a contract (not that they read or understand their contracts )
Edit: then they can grow up to be like you, taking joy from picking up distressed sales because someone is dying of cancer, has been divorced etc.[/quote]
"The truth is that there are no good men, or bad men. It is the deeds that have goodness or badness in them. There are good deeds, and bad deeds. Men are just men."
No, the clueless should definitely rush out and get one as soon as they can legally sign a contract (not that they read or understand their contracts ).
If they do they have more than a clue than you or any bear on here.
Necessarily? Sure Roddy - it's not a cast iron guarantee. But for the vast majority of people, home ownership results in greater wealth generation than a lifetime of renting.
To support the claim:
"...aimed squarely at the suburbanites' emotions anyway and fails some basic reasoning tests."
As for the 2nd argument, it's like saying "people who cannot afford a house will never generate the same wealth as those who buy a house."
Which is making an assumption of reasoning that not one set of circumstances can make a poor person wealthier than a person who owns a house.
Security of tenure is much stronger when you own a home, and the equity can be leveraged to invest in a business.
In fact, many new businesses use home equity as the source of capital to get started.
And how many if those businesses fail in the first year, how many of the remaining businesses survive the proceeding 12 months? Your idea of a perfect investment strategy is to leverage into a highly valued asset, hope it rises in value then leverage into an extremely risky start up strategy.
If you don't agree with the position that "wealth building is based entirely around buying houses", and you can't demonstrate that anyone else agrees with it, then it doesn't support any claim at all. It's simply a position you invented.
Quote:
As for the 2nd argument, it's like saying "people who cannot afford a house will never generate the same wealth as those who buy a house."
No Roddy, it's saying that if you take two people of equal means, the one who chooses to buy a house is likely to end up wealthier than the one who chooses to rent forever.
Quote:
Mathematically and logically empty thinking.
So why do you keep doing it?
Chris
10 Oct 2016, 05:21 PM
And how many if those businesses fail in the first year, how many of the remaining businesses survive the proceeding 12 months?
Relevance?
Quote:
Your idea of a perfect investment strategy is to leverage into a highly valued asset, hope it rises in value then leverage into an extremely risky start up strategy.
No, that's not my idea of a perfect investment strategy.
"The truth is that there are no good men, or bad men. It is the deeds that have goodness or badness in them. There are good deeds, and bad deeds. Men are just men."
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