Reply to I know why Millenials can't afford houses and pay off their student loans..

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The more you talk about opportunity cost, the more I think you live your life leveraged to the teeth.

That's fine when all is well -- you're employed, you're healthy, the market is going up.

What happens when any of those circumstances changes?[/quote]

Mortgage = leveraged to the teeth. What's your point again? The point of renting is to allow flexibility in your overhead so that when circumstances change, you're not dealing with foreclosure. Only a dumb Millennial basher would completely mix up the concepts and celebrate the idea of taking on an enormous amount of debt. [/quote]

Mortgage is definitely a commitment, but it is a secured loan.  And there are tax advantages for mortgages -- the interest is deductible.  As I have said, the long term paying down the mortgage at the same cost of a rental [b]leads to increased net worth[/b].  If you pay rent, nothing comes to you.  Granted, your commitment is the duration of the lease.  But, of my mortgage payment (instead of rent), now about $500/mo goes to me long term.

I have not bashed millennials.  I have not criticized anyones lifestyle.  But you seem to need to bash me, calling me stupid and ill informed.  I am surprised you have not called me "grandpa"[/quote]

Again, only if housing prices go up. Which they won't continue to, not if Millennials don't buy houses. So maybe instead of criticizing Millennials for their spending choices, maybe you should think about what you're going to do with the overvalued asset you just poured 20 years of your life into when you can't offload it.[/quote]

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