Quote:
Originally posted by Nathans_Dad
A house is a place you live, not a place to stash your money. I have always been an advocate of putting as little money into your house as possible for the simple reason that the percentage of equity that you have in your house has zero to do with whether your house appreciates in value or not.
The idea of paying off a house comes from a time when mortgages rates were much much higher than they are today. If you were paying 12% on a mortgage you would pay it off too. Not so when you are paying 6%.
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rick, you been reading my diary? i feel the same way. in the bay area, my mortgage is the same amount as the last rent i payed. the down payment was a miracle, but i did it. my house is just one of my durable goods.