View Single Post
Old 08-30-2011, 12:50 PM   #1
Travis Munroe
RealtorŪ
 
Travis Munroe's Avatar
 
Join Date: Feb 2009
Location: Calgary
Exp:
Default Do you consider your mortgage "debt"

I am focusing in on the recent thread as we had a pretty close 50/50 split as to how people viewed their mortgage.
After being roasted on my comment questioning a mortgage to be debt I am curious how everyone feels. No question that by definition a mortgage is debt however it is a much different debt than almost every other type ie: Credit Cards, car payments etc.
If you had to go $100k into some type of debt is it not fair to say that everyone would choose real estate?
If you owe $300k on a $500k home, do you feel that you should be put into the category of people in debt?
This was all spurred because according to the study in the other thread most people between 18-24 feel they will be debt free by 32. If you ask me, 80+ % of people will be in 100k + debt at 32 if a mortgage is considered.

EDIT: Fairly straight forward as to if it is debt or not. I wasn't asking the question properly but if the poll can read

Do you think people with mortgage debt should continue to be categorized as someone with major cc/auto etc debt.
__________________

OFFICIAL CP REALTOR & PROPERTY MANAGER
Travis Munroe | Century 21 Elevate | 403.971.4300

Residential Buying & Selling
info@tmunroe.com
www.tmunroe.com

Property Management
travis@mpmCalgary.com
www.mpmCalgary.com

Last edited by Travis Munroe; 08-30-2011 at 01:05 PM.
Travis Munroe is offline   Reply With Quote