There is also a financial/logical aspect thatno one seems to be mentioning (at least directly)and that is the certainty that comes from actuallyowning a home. You know (barring taxes) whatyour housing costs will be for the forseeablefuture. If you're renting, you become subject tothe whims of the housing market. I'm currentlyliving in Sunnyvale (Silicon Valley) and paying$1690 for a ground floor 2-br/2-ba apartmentsucks! If I had retired several years ago, I mayhave been expecting to pay $700/month for a muchnicer place.Now, if I'd gotten some huge return on my nestegg, then maybe I'd be outrunning the inflationin the housing market, but I think my standardof living would have taken a huge hit if I wasonly getting the "standard" 10% or less.Yes, if you are retired you can relocate to avoid a rapidly escalating market, but who wants to be forced to leave friends/family inorder to be able to afford to rent?Am I missing something? Of course, paying xa month for a mortgage when you could be renting for *much* less might not make sense..On a related note, I thought I'd have troublegetting a mortgage as a 35 year old layaboutwith $1 million in the bank and no job (or intention of seeking one). Given that this iswhere I want to be in a few years, is actuallygetting a mortgage feasible? Will the bank force me to put my investments in some silly places in order to have some security? Gettinga $200k mortgage just so I can stick $200kin a savings bond would seem kinda pointless..
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