putting the "morte" into mortgagervrjoe775August 4 2005, 20:36:17 UTC
Mortgages probably aren't what they used to be. In our transitive society, many people buy homes not ever intending to pay off the mortgage, and are often encouraged not to do so because of the tax benefits. So people use their equity (rising real estate prices works both ways) to trade up to a larger home and still have a mortgage similar to where they started, but hopefully more income. If you can afford the jump to a mortgage and will stay at least a couple years, it's definitely works as an investment compared to the expense of renting.
It's all dust in the end, but that doesn't mean there's no point or value in living, or in living rooms.
"They had to wait and save their money before they even ought to think of a decent home. Wait! Wait for what? Until their children grow up and leave them? Until they're so old and broken-down that they ... Do you know how long it takes a working man to save five thousand dollars? Just remember this, Mr. Potter, that this rabble you're talking about ... they do most of the working and paying and living and dying in this community. Well, is it too much to have them work and pay and live and die in a couple of decent rooms and a bath?" George Bailey, It's a Wonderful Life
It's all dust in the end, but that doesn't mean there's no point or value in living, or in living rooms.
"They had to wait and save their money before they even ought to think of a decent home. Wait! Wait for what? Until their children grow up and leave them? Until they're so old and broken-down that they ... Do you know how long it takes a working man to save five thousand dollars? Just remember this, Mr. Potter, that this rabble you're talking about ... they do most of the working and paying and living and dying in this community. Well, is it too much to have them work and pay and live and die in a couple of decent rooms and a bath?"
George Bailey, It's a Wonderful Life
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