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re: The math for buying a home no longer works, per WSJ
Posted on 12/21/23 at 9:29 pm to GreatLakesTiger24
Posted on 12/21/23 at 9:29 pm to GreatLakesTiger24
I bought my house at 2.50% interest and I was curious about how much that was worth. So I took the difference in what I'd pay monthly under current market rates (7% I think), subtracted my actual payment from that, and treated that as a cash flow, for which I calculated the present value.
It worked out to a little over $100,000. You can't really include "favorably priced debt" on a personal balance sheet, I guess, but it is a little crazy that lucky timing can translate into something with that high of a present value.
It worked out to a little over $100,000. You can't really include "favorably priced debt" on a personal balance sheet, I guess, but it is a little crazy that lucky timing can translate into something with that high of a present value.
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