Quote:
Originally Posted by JARblue
Also, we live in Austin. Housing in Austin is different from housing elsewhere. There was virtually no effect on the market in Austin when the $hit hit the fan a few years ago. I know because we purchased our house in March 2009. It is nearly always a seller's market here. I can't wait to sell our house. I'm not looking forward to buying lol
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well the whole rent/own debate is arguable... i mean if i had a portfolio of equal value of the house i could more than likely make a cash-flow that would cover both rent and living expenses. but in canadia we have a div tax credit for canadia companies and such... but it's all about your current situation and what makes the most financial sense.
everyone has a unique situation and it all depends what you value and such... for me i opt'd for a car (albeit a sports car) over a downpayment for a condo because it may happen that a job opens up and i need to move to a new city and the car is mobile!
Quote:
Originally Posted by Gadgetech
We refi'd from a 30 to a 15 about 5 years ago...best thing ever. Paid off more in the first 18 months than we paid off in the first 5 years of the 30 year. Interest rates were higher in the early 2000s as well which made a difference.
Sent from my Galaxy S5 Active
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the power of compounding! but yea my parents told me how in the 90's they had to finance a house around 15%... i'm like credit card rate?!?!?!? good on you for taking a much more aggressive regime to pay off the loan. you'll be debt free in no time!
little disclosure i am working in the financial industry so i do have a bit more insight towards this magical math thing... must be an asian thing... maybe...
AND MORNING ALL!