Originally Posted by
I-Like-To-Bike
No, having bought 5 and sold 4 houses in the last42 years I would not equate their purchase with the purchase of bicycles and did not do so. I'm just waiting for you to explain away your sanctimony about the need for others to defer gratification for their purchases, but not yourself.
This has been a long thread, so perhaps I am mistaken - and if so, someone will throw my own words back in my face! But I don't think that I ever suggested that borrowing money to buy a
house is a bad idea. In fact, I don't think I've even suggested that borrowing is bad even for other objects. "Bad" is a subjective judgment, and we all get to make our own financial decisions. I have suggested that, if a person can only get a bike by going into debt, the person probably can't afford the bike.
And if you ask me why it's different for a house than for a bike, well, then I won't be able to take you seriously.