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re: Housing prices are alarming
Posted on 6/10/19 at 7:06 am to Mud_Till_May
Posted on 6/10/19 at 7:06 am to Mud_Till_May
You can but frankly with interest rates as low as they are paying cash for a house would be foolish. You should be able to earn more than 4% on your money annualized over 30 years by investing.
Posted on 6/10/19 at 7:08 am to CaptainJ47
quote:
You can but frankly with interest rates as low as they are paying cash for a house would be foolish. You should be able to earn more than 4% on your money annualized over 30 years by investing.
Thats gambling. I just want to live.
Posted on 6/10/19 at 8:29 am to CaptainJ47
quote:
You can but frankly with interest rates as low as they are paying cash for a house would be foolish. You should be able to earn more than 4% on your money annualized over 30 years by investing.
You should, but you won't.
Think about it: if that line of thinking were universally true, wouldn't it make better sense for companies and banks that deal in mortgages to just invest that money in whatever asset beats mortgage rates than take on the risk of mortgages???
Posted on 6/10/19 at 8:37 am to CaptainJ47
quote:
You can but frankly with interest rates as low as they are paying cash for a house would be foolish. You should be able to earn more than 4% on your money annualized over 30 years by investing.
This is way above the average financial acumen of our country
Posted on 6/10/19 at 9:45 am to CaptainJ47
quote:
You can but frankly with interest rates as low as they are paying cash for a house would be foolish. You should be able to earn more than 4% on your money annualized over 30 years by investing.
While that may be true depending on investment strategy, if you were to lose your job and source of income, you still owe money on the house (see housing crisis 2007-2008). If you have a paid off house, that frees up $1,000+ each month that you could pour into investing. I don't know about you, but I don't want to pay 1.5x or more my house's worth by having it the full life of a loan.
This post was edited on 6/10/19 at 9:46 am
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