Housing crisis headlines. Give me a break. Doom and gloom written by people who have never helped someone save their home or helped a young couple avoid disaster by advising them to not buy a home they can't afford. Our housing is actually stable in some metropolitan areas and even growing in others. Citing balance sheets and skewed statistics in news cast is a diss service to everyone. Find out more in today;s edition of The Epic Perspective.
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I still think advising people of the truth is the best medicine and that is that you have no idea what the future will hold. You can quote anything historical you want, but the second you project to the future, to me, it's a little sketchy. To tell someone that it's a great way to save, a way towards retirement, etc. may be 100% wrong if the markets turn down or remain sideways. Anything can happen.
They say percetion is reality and that there is opportunity in chaos. So if you are the optimistic type, life is not so bad! Enjoy your day!
David - Although I disagree with your stance I appreciate you stopping by and sharing your view. I believe this is another cycle. I also believe that regardless of the economy people will pay for shelter and that when inflation cycles through rent will exceed the current cost of a mortgage.
It is a fact that the loan balance will drop and it is speculation that the home value will rise. At the end of 30 years the home would be owned and would carry some intrinsic value. The home rented for 30 years would not be owned. Therein lies the savings.
Wayne - Well said! Thanks for stopping by