Monday 20 May 2013

Housing Debt Makes Life Worth Living

Could you imagine if there was no such thing as debt, period?

What a horrible world it would be!

Imagine paying cash for that new iPhone. Or vacationing in the backyard instead of Bora Bora. Awful, right? Worse yet… could you imagine having to save $60K for that new Lexus parked in the driveway? And you can forget about buying a house before you’re 40!

Having no credit cards, loans or borrowing options would make for a life absent of all vibrant colour. Everything would be a dull, shit brown – and everyone would be unhappy. How could you possibly be anything but miserable if you’re so poor?

Debt provides you with wealth, don’t you realize? Debt lets you leverage previous purchases to make more purchases. Because you can never have enough stuff. Especially if your neighbors have the same amount of stuff. Everyone is richer and happier that way.

So what’s the easiest way to endless wealth?

Buying a home.

Seriously, can you name a better way to wealth than housing debt? A down payment later and not only do you have leverage, you’re sitting on the best investment you could ever make. Ever!

Oh, there will be a few renters who just don’t get it. They’ll try to tell you that buying a home is a mistake, and that you’re now a slave to your property. What they don’t understand is the high price of housing isn’t anything to worry about. Real estate prices always goes up. You’re making money simply by owning a home. Duh.

Even if renovations and home up-keep costs you money, you’ll get all that money back - plus more. So go for it. Add those granite countertops and get the backyard professionally landscaped. Hell, put in a pool too! When you sell the place, you’ll get more back than what you originally paid. It’s basic math when you factor in the appreciation.

Let’s face it, those skeptical renters who hang out online and talk about “bubbles” are just scared, cup-half-empty types who see those few incidents of people losing their house and savings. What they don’t want to see is everyone else – living the North American dream. If they only bought a home, they’d know better. They’d understand and enjoy the massive equity available to them.

Plus, when you need something really important – like putting your kid through 5 years of Ivy League university, you can rely on the wealth created by your house. Home equity line of credits are made so you can enjoy the time you have – and make sure that your kids do too! Once you have a home, you have the ability to buy more and live a much better life. The government certainly agrees.

So don’t pay those renters any mind. They’re so enraged with jealousy over the prosperity of homeowners that they will continue to throw around threats of bubbles to destroy the hopes of others – or even worse, snatch the low priced homes from those who foolishly listen to their awful advice. Listening to them may actually be worse than being one of them.

If you take away one thing from this article, know that housing debt is freedom – and the key to ultimate happiness and wealth. Don’t let anyone try to tell you otherwise.



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