I think we can now believe that debt-levitated housing that in turn supports big government is not the way to go?
I don't agree with the above. Personal homeownership is one of the surest ways to achieve increased personal wealth.
There's no such thing as free housing, as you know. If you don't own, you rent. Even if you foist the choice on someone else, say, you live with your parents, you still either own or rent vicariously.
The calculations involved in deciding whether, when, how, to buy or rent are complicated -- specialist economists and financial advisoes have online calculators that input numerous personal variables, which include assumptions.
Interest rates are still at historic lows, housing prices have come down, so it's a good time to buy.
It's just never a good time to borrow more debt that you can service, and never a good idea to borrow your way into bankruptcy.
But these words of wisdom fall on deaf ears when talking to a perma-bear, who probably lives with Mom and Dad in the basement, anyway, or rents. They missed the boat and it's never coming back to the dock in their lifetime, so it's all sour grapes now. |
