Quote:
Originally Posted by V
That's awesome. I'm going to use that one day.
I'm not sure it's relevant, though, unless you're saying that having a mortgage is exposing your house to lose it.
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I've always believed that the best investment is something that is basic to your needs and well being, and which will appreciate with time. A house would fall into that category. With house prices highly inflated and high personal debt, I fear a significant correction in prices may cause many to lose their homes, especially if interest rates begin to normalize. Therefore paying down the mortgage will create more equity, and make people less vulnerable. I can't imagine the amount of agony, people in the US must have gone through, in losing their homes.
IMO to take the money, you would pay on the mortgage, and invest in other things, is too risky at this point in time. However, I am much older, and can't take the risks a 33 year old can take.