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Tuesday, October 13, 2015

Financial Fridays: It's Financial Suicide To Own A House

I am sick of me writing about this. Do you ever get sick of yourself? I am sick of me.

But every day I see more propaganda about the American Dream of owning the home.

I see codewords a $15 trillion dollar industry uses to hypnotize its religious adherents to BELIEVE.

Lay down your money, your hard work, your lives and loves and debt, and BELIEVE!

But I will qualify: if someone wants to own a home, own one. There should never be a judgment. I’m the last to judge. I’ve owned two homes. And lost two homes.

If were to write an autobiography called: “My life — 10 Miserable moments” owning a home would be two of them.



LadyLiddy said...

I own my house. I pay my property taxes. I care for the home and take pride in where I live. My children will inherit it, debt free, when the time comes. They will have no trouble selling a well cared for home on five wooded acres, should they choose to. Regardless of where you choose to invest your money, you have to take into consideration your lifestyle and long term goals. Living life spontaneously flew out the window when I became responsible for children.

Anonymous said...

The problem is too many people taking on huge debt loads to buy more house than they can afford. Buy with at least 10% down, pay it off, then it is an investment.

Anonymous said...

I rent a whole house, includes heat, water, sewer, and trash pick up all for just $500. a month. Cheaper than buying! Oh, and this is just outside the city, with a sheriff deputy as a neighbor, so the neighborhood is pretty safe.

Anonymous said...

I have added it up over the years and this writer is correct about the real estate con.

Anonymous said...

I paid my house off in 18 years. That was nine years ago-without any mortgage payments since I paid it off.Just county property taxes and insurance. Would not have it any other way. You can have the rent increases, and the landlords all to yourselves.