Reply to am i insane for considering this? 820k mortgage on a 240k income

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[quote=Anonymous]OP, go to the real estate forum and see what they have to say.  This forum is RIDICULOUSLY conservative.  If it were up to this forum, you'd only be able to buy a $500k house and afford a $30k car if you made $1M per year.  Stupid, stupid, stupid.

What are you going to do with your money?  Bonds? Lol, they're worthless toilet paper these days.  Save cash? Dumb. Inflation is eating at it more and more into your savings in a lousy account earning 1% interest or less.  Stocks? Lol. They're horrendously overvalued right now, and many are predicting a big correction coming.

Given the threat of inflation, hard assets will be most valuable over the coming years.  That, and given the simple economic fact that there is more demand for housing than supply, it means owning a home is still a good investment to protect against inflation.  In fact, given the interest rates and levels of inflation, you could essentially borrow money for free almost right now to own a home.  Plus, on top of that, unlike almost all other investments, at least a home provides additional utility as a place of shelter.  I wouldn't be afraid to stretch a little bit to own at all right now.  [/quote]

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