Heinz Blasnik- Views You Can Use Message Board

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Strategies & Market Trends : Heinz Blasnik- Views You Can Use

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To: GraceZ who wrote (2803)	6/30/2003 3:02:44 PM
From: Cogito Ergo Sum	Read Replies (1) of 4907

Hi Grace, almost every case owning a house was more expensive over time than renting I've seen a lot of scenarios and worked some out. The thing that doesn't seem to get taken into account is human nature. Owning a home is like a forced savings plan. Most folks I know have a real problem paying themselves first, if at all. Not much different from buying a house in a boom when lots of folks get suckered in with debt service ratios and manageability. They soon realise there is nothing left for life when they cut it too close. Sounds good n paper with the right ego boosting sales pitch but... When I had my first job one of my duties was paymaster. I quickly instituted a Canada Saving Bond savings plan because I was more than a little wild and spent everything. I needed a minimum of 10 folks to get it rolling. I think after much propagandizing I had 11 the first year and after that it snowballed. Suddenly folks that lived for their tax refund had a big fat savings bond just in time for Christmas, collateral and self esteem. The plan size almost tripled the next year with no solicitation. I paid my wedding, honeymoon and furnished my first 'married' apartment with my bonds. It sure wasn't the most efficient mechanism 'on paper' but its key point was it worked... I guess theories are nice but reality bites.. ;o) I count myself lucky that I learned that lesson. Our retirement plans, education plans, in trust accounts for gifts my kids receive are all forced savings plans. I like to max all of these things out annually. Besides if you are at all handy home maintenance costs not typically severe as you know. FWIW, regards Kastel

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