Quote:
Originally Posted by DaFace
He's backed off on it a bit, but it's still just such a ludicrous position to take that people should avoid all debt at all costs. Granted, I kind of got lucky in buying to a housing market that has been red hot ever since I bought our place, but I calculated it up the other day, and the value of my house has appreciated more than the sum total of all of the money I have put into it (principal, interest, and repairs/upgrades/maintenance). It's like I've literally been able to live rent free in my own house for a decade.
To put it another way, if I'd rented all of this time, I still probably wouldn't have saved enough to pay cash for my place even in 2009 values, and the price has nearly tripled since then.
My net worth would literally be $300k+ lower right now if I'd followed R8ers advice.
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Hmm, never thought of the whole rent/buy debate that way, from a future value of money/property perspective... probably because coming at it from that direction and wanting to save for years on end and pay cash for a house is so ridiculous, that it never enters into my thought process.