Quote:
Originally Posted by DareRing
This is Darwin Award worthy advice. Sorry, nothing personal, I just think it's dangerous to promote owning IOUs before essential real-world assets. Secure a place to live first, then go ahead and gamble after you're debt free. Especially if you're supporting a family, anything less is irresponsible.
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Rather funny considering that real-estate is essentially an IOU as well. You do realise that you don't actaully 'own' real estate in most countries right?
All this talk regarding appriciation differentials is rather silly anyway. The real boom in real estate is fairly recent (last 30-40 years) prior to that it tended to appreciate in line with inflation (which was for all intents and purposes non-existant on the kenshin\gold standards).
All people keep doing in this thread is using ancedotal evidence to support their opinion. Yes you CAN make money in real estate yes you CAN make money in stocks. As an overall investment stocks TEND to average out to a better overall return over MOST timelines in which you own them.
That said you have to live somewhere, and you'll either end up owning or renting. There's actually an index out there that tells you given the region in which you live which is a better fiscal investment once you figure in taxes, upkeep, average rental prices, cost of aquiring capital etc.
FIN.
PS: People really need to figure out how ammortization schedules work. You realize how long it takes for you to start paying any significant $ into your home on a 30-year? Most people never 'build euity' they're just paying interest.