I think 80% of the people in this country are living beyond their means, life is just somekinds
of gambling, some win and some lose, that is it. If you buy a house , say $600K, and place a
25% down, i.e your mortgage is $450k, and you make your monthly mortgage for the rest of
your life for 30 years. Are you sure you can meet the 360 monthly payments for the next thirty years?
If not, then you are gambling. But I think 80% of the home owners in this country had
their homes with mortgages. So, do you think those people are living beyond their means?
Because they can not afford buying their houses with cash now, but buy time with more
interest payment. When something happen and some can not meet the monthly payment,
then they lose their properties. That is what is happening in Korea, Thailand, Indonesia now.
I do not think it is wrong to borrow money, if you use the money to do something productive, like build your factories, highway to increase the productivity of the country. |
