Quote:
Originally Posted by Phanuthier
Its lopsided, because it is a debt. If you have car payments, do you consider yourself in debt? Student loans? If you want to say "oh, uh, a mortgage isn't a debt because in the future it pays off" then a student loan isn't a debt either.
Or, what if you took out car payments (even if you didn't have to) because you used the money to put into investments? Then its not a debt, cause its making you money... right?
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For sure. A one word change to the poll, "Do you consider your mortgage "
good debt" would likely have produced a very different answer.
A mortgage used to buy a house (appreciating with inflation on average) is better debt than a loan used to buy a new stereo (depreciating on average).