Quote:
Originally Posted by GirlySports
There you go, you guys are not willing to start from the bottom.
Asset building (either financially or professionally) is a concept lost to Gen Y'ers. The sacrifice that Pylon mentioned is definitely worth it, his parents are probably laughing now.
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Actually, I disagree with that. Buying a property is an investment - at a 30 year mortgage, your liability is that you hold a debt on an investment for 30 years. Are you trying to say its more responsible to commit to a 30 year debt on a property you do not expect to hold a liability for over the duration of the 30 years?
I know people move before their mortgage is up, but the way I view your risk is over the term of the liability. The irresponsiblity of expecting to hold a property shorter then the term (well, the sub-prime anyways) done by, well, baby-boomers is the reason for the 2008 recession that severly hurt a lot of people coming out of school who are in the 25-30 year old range - the range of people that is being critisized for having too easy of a life.