Quote:
Originally Posted by jIM_Ohio
A house accumulates wealth. Each payment a person makes to the bank increases their net worth slightly. In that regard wealth is being accumulated.
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But Jim, that is only true because each payment decreases the outstanding debt a bit. If you didn't have that huge mortgage in the first place, that wouldn't apply.
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Steve
Join the 2009 Ebay Challenge!
* Despite the high cost of living, it remains very popular.
* Why should I pay for my daughter's education when she already knows everything?
* There are no shortcuts to anywhere worth going.