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Originally Posted by Mike Oxlong
Amen Dom!!!
There is good debt and bad debt. Buying a car with your equity isn't a great idea. It is a depreciating asset. However buying a house is a great debt to get into. The house is going up in value, you have someone paying off the mortgage and the bank is lending you the money to buy it. It doesn't get much better.
Even if the housing market takes a bit of a dip which I don't expect for a LONG time it will recover and prices will continue to climb. Real Estate prices have always climbed over the long run throughout history. Your asset will continue to climb in value while the mortgage gets paid off. Debt that makes you money is not a bad thing at all. A very smart investment.
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I'm surprised you got through all that without mentioning land!
