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A comment on This 4×6 index card has all the financial advice you’ll ever need. Parent comment

Re:This 4×6 index card has all the financial advice you’ll e... by coldtea on Monday September 16, 2013 @07:50PM (#6396683)
>would include never having a mortgage, which would be a huge lost opportunity for many

A lost opportunity? If you can afford a house easily buy one, if you cannot afford it a mortage is anything but a huge opportunity.

http://www.jamesaltucher.com/2011/03/why-i-am-never-going-to...

http://www.jamesaltucher.com/2011/05/why-i-would-rather-shoo...

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Re:This 4×6 index card has all the financial advice you’ll e... by sliverstorm on Monday September 16, 2013 @08:51PM (#6396921)
This advice seems to completely gloss over one key fact:

You have to live somewhere.

Seriously- if you didn't, buying a house would be a terrible investment! But you do, so the cost of owning a house needs to be compared to the cost of renting, instead of being discussed as a normal investment.

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Re:This 4×6 index card has all the financial advice you’ll e... by coldtea on Tuesday September 17, 2013 @10:56AM (#6399642)
>the cost of owning a house needs to be compared to the cost of renting

Emm, the linked articles get into exactly this.

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Re:This 4×6 index card has all the financial advice you’ll e... by untog on Monday September 16, 2013 @09:02PM (#6396960)
Not sure why this is being downvoted. If you don't get mortgage, the presumption is that you aren't going to buy a house outright, either. You're going to rent, which isn't exactly an ideal situation in the long term.
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Re:This 4×6 index card has all the financial advice you’ll e... by sliverstorm on Monday September 16, 2013 @09:04PM (#6396969)
Haha yes, if you can buy a house outright, definitely do that.

Unless, of course, you can land an incredibly low interest rate on your mortgage and have something interesting to do with your capitol, like fund your business.

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Re:This 4×6 index card has all the financial advice you’ll e... by superuser2 on Monday September 16, 2013 @10:05PM (#6397170)
Opportunity cost.

$250,000 invested now could be substantially more by retirement than the cost of the mortgage over its lifetime.

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Re:This 4×6 index card has all the financial advice you’ll e... by WildUtah on Monday September 16, 2013 @11:48PM (#6397452)
The best darn mortgage v. rent calculator I've ever seen:

http://www.nytimes.com/interactive/business/buy-rent-calcula...

It all depends on your circumstances.

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Re:This 4×6 index card has all the financial advice you’ll e... by refurb on Tuesday September 17, 2013 @12:49AM (#6397637)
This one is actually a little better...

http://michaelbluejay.com/house/rentvsbuy.html

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