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|User Info||The Simple Facts On Equities And Debt; entered at 2022-09-16 09:28:18|
Registered: 2021-09-15 western slope colorado
My wife and I were discussing debt recently. When we took our loan to buy our property FIL tells us to get as much money as the bank would loan us due to the low interest rates. His logic was use the bank's money so if you had a financial hiccup, it was the bank's money we'd lose. |
Kinda backwards thinking to the both of us, but makes sense if we were just going to flip our home.
Since we built a tomb rather than an asset (we hope to die of old age here) the less it cost the better off we are.
Debt isnt wealth. Not necessarily even if you are holding the paper. Stuff is worth what someone will pay for it. Look at all the debt companies had to eat 2006-2008.
Hasn't part of the recent housing boom been due to people buying 2nd, 3rd or 4th homes to rent out? Air b&B's are the recent fad driving these purchases and what happens when nobody can afford to travel?
How many mortgage payments can these small time Trumps make if they aren't renting? What happens when everyone get behind at the same time?
2006-2008? But even worse because the Fed blew their wad 14 years ago?
Pass the popcorn...