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You are not an investor who has to invest $20M. Most home buyers are looking for a home into which they'll be dumping the majority of their wealth. They have a
by MichaelSalib 16y ago
You are not an investor who has to invest $20M.
Most home buyers are looking for a home into which they'll be dumping the majority of their wealth. They have an incredible amount on the line.
For a 200K non-repeatable investment for someone willing to do the legwork, yes.
Why should we assume that many people know how to correctly do "the legwork"? Is real estate market assessment and pricing covered in school now?
I mean, most people lack the mathematical sophistication needed to understand their mortgages -- let alone whether buying is a good decision.
- teyc 16y agoOh yes, I agree with that. It is a lot of money for a lot of people. A house is probably the single biggest purchase that people will ever make in their lifetime. Unless they don't buy a house, in which case, it wouldn't be the single biggest purchase in their lifetime. :) There is nothing extremely sophisticated about borrowing money. But I heard that some extremely sophisticated lenders have lost their shirt recently, so one cannot be too careful.