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I see this viewpoint expressed way too often on HN by people who should know better. Mortgages are not all upside. See http://www.nytimes.com/interactive/2014/u
by juliangregorian 12y ago
I see this viewpoint expressed way too often on HN by people who should know better. Mortgages are not all upside. See http://www.nytimes.com/interactive/2014/upshot/buy-rent-calculator.html http://www.nytimes.com/interactive/2014/upshot/buy-rent-calc...
- barrkel 12y agoI know mortgages are not all upside. Mortgages do have another effect, not taken into account often enough: they are a forced savings mechanism. (I rent, BTW.)
- juliangregorian 12y agoOrrrr you could do what normal people do and set up your direct deposit to put a certain percentage into a savings account. Taking on a mortgage because you don't have self-control sounds disastrous. Also, what happens when you need to dip into this "savings account"? Refinance your house?