Comments on: how to have no debt http://www.bripblap.com/2009/how-to-have-no-debt/ wealth, work and life success Thu, 18 Mar 2010 20:15:29 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Are You Suffering From Symptoms of Mold? | Theadsensereadysites.net-Articles Survey http://www.bripblap.com/2009/how-to-have-no-debt/comment-page-1/#comment-28725 Are You Suffering From Symptoms of Mold? | Theadsensereadysites.net-Articles Survey Wed, 19 Aug 2009 21:22:34 +0000 http://www.bripblap.com/?p=1344#comment-28725 [...] how to have no debt First of all, rent, because a mortgage is a big debt. I don’t know if most people qualify renting a home as debt, but I’m going to say that renting is not debt. I can walk away from a rental home with no future obligation (except canceling the lease)…… [...] [...] how to have no debt First of all, rent, because a mortgage is a big debt. I don’t know if most people qualify renting a home as debt, but I’m going to say that renting is not debt. I can walk away from a rental home with no future obligation (except canceling the lease)…… [...]

]]> By: 5 Reasons Why Mortgage Reduction is Important | Home Loan Mortgage Refinance http://www.bripblap.com/2009/how-to-have-no-debt/comment-page-1/#comment-28644 5 Reasons Why Mortgage Reduction is Important | Home Loan Mortgage Refinance Sun, 09 Aug 2009 03:18:06 +0000 http://www.bripblap.com/?p=1344#comment-28644 [...] how to have no debt (bripblap.com) [...] [...] how to have no debt (bripblap.com) [...]

]]> By: 5 Reasons Why Mortgage Reduction is Important | Mortgage Deals | Best Mortgage Rates http://www.bripblap.com/2009/how-to-have-no-debt/comment-page-1/#comment-28638 5 Reasons Why Mortgage Reduction is Important | Mortgage Deals | Best Mortgage Rates Fri, 07 Aug 2009 06:57:05 +0000 http://www.bripblap.com/?p=1344#comment-28638 [...] how to have no debt (bripblap.com) [...] [...] how to have no debt (bripblap.com) [...]

]]> By: What Does it Take to Make Real Money Online | Online Business Opportunity http://www.bripblap.com/2009/how-to-have-no-debt/comment-page-1/#comment-28618 What Does it Take to Make Real Money Online | Online Business Opportunity Tue, 04 Aug 2009 13:16:02 +0000 http://www.bripblap.com/?p=1344#comment-28618 [...] how to have no debt (bripblap.com) [...] [...] how to have no debt (bripblap.com) [...]

]]> By: Paul Brown http://www.bripblap.com/2009/how-to-have-no-debt/comment-page-1/#comment-29611 Paul Brown Tue, 21 Apr 2009 06:46:14 +0000 http://www.bripblap.com/?p=1344#comment-29611 I agree that renting can sometimes be preferable to home ownership, and folks who buy too much home--with too much mortgage--can really get themselves in a bind. But all things being equal our financial and tax systems seem to give significant advantages to home ownership. For the large majority of people with adequate income and who make sound decisions about how much house they can afford, home ownership has created vast wealth over time.<br><br>It's important not to overdo the debt thing either. Consumer debt for things we can't afford is incredibly expensive and dangerous, but prudent debt for a home mortgage, certain types of education, and the like, can be one of the best tools for wealth accumulation that there is. All debt is not created equal. I agree that renting can sometimes be preferable to home ownership, and folks who buy too much home–with too much mortgage–can really get themselves in a bind. But all things being equal our financial and tax systems seem to give significant advantages to home ownership. For the large majority of people with adequate income and who make sound decisions about how much house they can afford, home ownership has created vast wealth over time.

It's important not to overdo the debt thing either. Consumer debt for things we can't afford is incredibly expensive and dangerous, but prudent debt for a home mortgage, certain types of education, and the like, can be one of the best tools for wealth accumulation that there is. All debt is not created equal.

]]> By: The Real Meaning of Risk | Favorite Home Remedies http://www.bripblap.com/2009/how-to-have-no-debt/comment-page-1/#comment-27742 The Real Meaning of Risk | Favorite Home Remedies Tue, 21 Apr 2009 02:33:40 +0000 http://www.bripblap.com/?p=1344#comment-27742 [...] I’m afraid that I mentally hit the ceiling earlier when I read a comment on one of Steve’s posts. The comment was: In real estate, the quicker you can go into massive debt, the quicker you can become massively wealthy. (Link) [...] [...] I’m afraid that I mentally hit the ceiling earlier when I read a comment on one of Steve’s posts. The comment was: In real estate, the quicker you can go into massive debt, the quicker you can become massively wealthy. (Link) [...]

]]> By: Paul Brown http://www.bripblap.com/2009/how-to-have-no-debt/comment-page-1/#comment-27741 Paul Brown Mon, 20 Apr 2009 23:46:14 +0000 http://www.bripblap.com/?p=1344#comment-27741 I agree that renting can sometimes be preferable to home ownership, and folks who buy too much home--with too much mortgage--can really get themselves in a bind. But all things being equal our financial and tax systems seem to give significant advantages to home ownership. For the large majority of people with adequate income and who make sound decisions about how much house they can afford, home ownership has created vast wealth over time.<br><br>It's important not to overdo the debt thing either. Consumer debt for things we can't afford is incredibly expensive and dangerous, but prudent debt for a home mortgage, certain types of education, and the like, can be one of the best tools for wealth accumulation that there is. All debt is not created equal. I agree that renting can sometimes be preferable to home ownership, and folks who buy too much home–with too much mortgage–can really get themselves in a bind. But all things being equal our financial and tax systems seem to give significant advantages to home ownership. For the large majority of people with adequate income and who make sound decisions about how much house they can afford, home ownership has created vast wealth over time.

It's important not to overdo the debt thing either. Consumer debt for things we can't afford is incredibly expensive and dangerous, but prudent debt for a home mortgage, certain types of education, and the like, can be one of the best tools for wealth accumulation that there is. All debt is not created equal.

]]> By: Steve @ bripblap http://www.bripblap.com/2009/how-to-have-no-debt/comment-page-1/#comment-27730 Steve @ bripblap Fri, 17 Apr 2009 22:12:10 +0000 http://www.bripblap.com/?p=1344#comment-27730 @frugal1: I don't mean to be too dismissive, but the key phrase in your reply is "In our area". In my area the opposite has been true. I am - again - not dismissing home ownership, which has its own rewards. I'm simply pointing out that as long as you have a mortgage, you cannot be debt-free. If your goal is to live debt-free, you are better off renting.<br><br>And I will also add that of course investors who bought 20 years ago are making out like bandits - what about the investors who bought 3 years ago? 4? <br><br>I agree that it's nice to own your home, and to feel free to paint the walls or replace the dishwasher and feel that it's an improvement to YOUR asset. But I'm trying to take a step back and ask if home ownership is ALWAYS the answer, which many people would have you believe. It is not - sometimes you are better off renting. @frugal1: I don't mean to be too dismissive, but the key phrase in your reply is “In our area”. In my area the opposite has been true. I am – again – not dismissing home ownership, which has its own rewards. I'm simply pointing out that as long as you have a mortgage, you cannot be debt-free. If your goal is to live debt-free, you are better off renting.

And I will also add that of course investors who bought 20 years ago are making out like bandits – what about the investors who bought 3 years ago? 4?

I agree that it's nice to own your home, and to feel free to paint the walls or replace the dishwasher and feel that it's an improvement to YOUR asset. But I'm trying to take a step back and ask if home ownership is ALWAYS the answer, which many people would have you believe. It is not – sometimes you are better off renting.

]]> By: frugal1 http://www.bripblap.com/2009/how-to-have-no-debt/comment-page-1/#comment-27727 frugal1 Fri, 17 Apr 2009 18:41:18 +0000 http://www.bripblap.com/?p=1344#comment-27727 Twenty years ago many objected to a thirty year fixed mortgage payment that was $100 more than rent for the equivilent home. In our area rent has increased over $1000 per month while the mortgage payment (including principal, interest, taxes & insurance) has decreased due to lower interest rates. In another 10 years the mortgage will be paid off while the renter continues to pay higher and higher rent. Today in our area home prices have fallen to a point where you can buy a home with a thirty-year fixed mortgage payment that is less than rent on an equivilent home. Why rent?<br>The investors who bought twenty years ago are making out like bandits while their tenants are paying off their landlords' homes and providing great cash flow. Through the last two recessions rents have trended upward with only slight adjustments due to supply and demand while home prices have changed dramatically. Whenever mortgage payments and rents are in the same ballpark on equivilent homes, the prudent thing to do is to buy a home. Besides, it just feels good to own your own home and not have to move at the whim of your landlord. Twenty years ago many objected to a thirty year fixed mortgage payment that was $100 more than rent for the equivilent home. In our area rent has increased over $1000 per month while the mortgage payment (including principal, interest, taxes & insurance) has decreased due to lower interest rates. In another 10 years the mortgage will be paid off while the renter continues to pay higher and higher rent. Today in our area home prices have fallen to a point where you can buy a home with a thirty-year fixed mortgage payment that is less than rent on an equivilent home. Why rent?
The investors who bought twenty years ago are making out like bandits while their tenants are paying off their landlords' homes and providing great cash flow. Through the last two recessions rents have trended upward with only slight adjustments due to supply and demand while home prices have changed dramatically. Whenever mortgage payments and rents are in the same ballpark on equivilent homes, the prudent thing to do is to buy a home. Besides, it just feels good to own your own home and not have to move at the whim of your landlord.

]]> By: SJ http://www.bripblap.com/2009/how-to-have-no-debt/comment-page-1/#comment-27725 SJ Fri, 17 Apr 2009 13:45:35 +0000 http://www.bripblap.com/?p=1344#comment-27725 "You can generate more money; you can’t generate more time."<br><br>Great! Perfect =) “You can generate more money; you can’t generate more time.”

Great! Perfect =)

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