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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Other than cryptocurrency, buying property has been the best thing financially I've ever done. I bought a house in 2008 for 160k that is now worth 275k. I bought a property in 2010 for 250k that is now worth damn near 500k. I bought the house I live in now just 4 years ago for 250k and it's now worth 375k. I lived in them for a bit, then moved out & just rented them. Why you would ever rent is beyond me. Just flushing money down the toilet. Think long term not short term.
The dumbest thing I'm doing right now is some Dave Ramsey shit, just letting my 10 BTC I cashed in on May 12 sit and rot in my bank account. I haven't figured out what I'm going to do with it yet. Might start flipping houses like a buddy of mine is doing making money hand over fist - doing no work himself.