Reply to How much debt you have? Mortgage and student loans included.

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]How do people have such low mortgage balances in the DC area? Are the people responding people who have owned their homes 20+ years? [/quote]

I think this thread is getting more responses from people pleased with their lack of debt.

Like me!  Zero.  Paid off mortgage on $1m property by age 35, paid off $75k student loans by age 27.

I value a debt-minimal life because it allows us to be able to afford private school comfortably on a 250k HHI, as well as decent travel a few times per year.  We pay cash for vehicles.[/quote]

Nothing to be proud of.  You poured money into an illiquid vehicle that was likely to appreciate anyway and you could take out extremely cheap debt to cover, missing out on putting all that extra free cash flow into the stock market, which has had a massively historic run up, nearly doubling.  You’d have enough cash in the market now to more than pay your house note and would be sitting on - 2.5%-3% rate.

You lost millions in net worth.  But at least you can brag about being debt free!
[/quote]

Love that family money! Only those with a financial safety net think the way you do. It’s easy to take [i]so-called[/i] risks by capitalizing on investment leverage when the risk you’re taking is being borne by someone else. [/quote]

Also, did PP buy Bitcoin when they cost $1 each?  They'd have way more money than they got from the stock market.  Oh right, they didn't because only hindsight is 20/20 and the stock market could just as easily have been cut in half over that time period.  In that case, they'd be sitting on those losses on top of the debt they didn't pay off.

This the whole point for you numbskulls: many people don't want to use the roof over their head as a poker chip at the casino, even when the odds are in their favor.  Once my mortgage is paid-off and I've got a decent amount in some other, safe diversified investments?  Sure, then I'm open to the leverage game.[/quote]

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