Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Tradelite who wrote (145257)	1/22/2002 6:11:11 PM
From: Oblomov	of 436258

>>And Joel, if you don't believe in home ownership, don't buy a home. I assume you mean, instead of making arguments against ownership? And no, I have no avoidance tendency with regard to becoming heavily indebted, not to mention possessing a highly leveraged asset with the potential to appreciate or depreciate. Been there, done that. With regard to personal finance and investment, conventional wisdom is so often wrong as to be comical. The people whom I know that have done well in RE (as compared with competing investments) are not "homeowners", but rather sophisticated speculators in distressed properties. They don't disabuse themselves of the risks associated with leverage, whether they reside in the property or not. IMO, if one can't cough up a down payment of at least 10%, then he would be an interesting psychological profile... the very opposite of the "avoidance behavior" with which you label Joel. This person is willing to take extraordinary risks, and is willing to take on a great financuial burden, for a feeling of security. This isn't to say that I don't have my own foibles, just that such a person has different foibles.

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