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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: el_gaviero who wrote (47955)12/22/2005 11:30:51 AM
From: John Vosilla  Respond to of 110194
 
"Call this the good ole wealth effect."

I've been around the block a few times myself doing RE investing for a living and have an MBA but have not honestly ever heard of using homes as a personal ATM and feel good US consumerism on steroids until the last few years. I always thought the goal of just about everyone used to be pay down your mortgage to zero and build wealth through investments, smart budgeting and hard work. I'm made to feel old now at 45 for not doing exotic option ARM cash outs and signing contracts for those new and sexy preconstruction condos in this Bush era of conservative leadership<g>



To: el_gaviero who wrote (47955)12/22/2005 2:48:40 PM
From: Gotham Guru  Respond to of 110194
 
I don't consider the house or home one lives in as an investment, although it is an appreciating asset. A home you rent to a tennant who is paying your mortgage is an investment.


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