Quote:
Originally Posted by crockett
Well it's kinda hard to do that with a house. Buying a car or normal stuff with cash is likely doable for most people if they have a strict budget, but most can't afford to do the same with a house.
In reality in most situations it would be stupid to do so anyway. Say it takes some average Joe 15 years to save 100k to buy a average house with cash. If he had bought the house 15 years prior with a 100k loan he would likely have much more money in the bank at the end, because the house he bought 15 years ago for 100k would more than likely be worth much more even with interest paid. (assuming he wasn't in middle of housing bubble or crash)
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Yup, a house is a purchase on a totally different scale and I certainly agree on that.
Just not with Tempests comment that "everyone is greedy". Also, when he asks "How many things do you own or have bought on credit?" (I'm assuming that this just means general purchases bought via credit and not cars and houses lol) some people are going be able to say "none" simply because they're not tempted by the latest "must have accessories" and prefer instead to use the perfectly good previous versions that they already own and have bought with cash.