cdnhodlr on Nostr: In our current fiat system mortgage debt is likely not a bad thing. As it is a govt ...
In our current fiat system mortgage debt is likely not a bad thing. As it is a govt subsidized loan at least here in Canada.
I always shied away from debt so never purchased a house as I watched my friends take on massive mortgages. Fast forward a decade and they now pay back their mortgage with cheaper dollars and their property has kept up with real inflation, something they themselves would not be able to afford today if they had to start over.
Sadly this is the reality in a fiat system, savers get punished.
Bitcoin helps... However if I was starting out and could afford a mortgage, I think I would take it as it gives you a boost as you benefit from Cantillion effect.
Save in bitcoin, be smart about debt and don't buy a 60k car or take crazy student loans when you can teach yourself most stuff.
I always shied away from debt so never purchased a house as I watched my friends take on massive mortgages. Fast forward a decade and they now pay back their mortgage with cheaper dollars and their property has kept up with real inflation, something they themselves would not be able to afford today if they had to start over.
Sadly this is the reality in a fiat system, savers get punished.
Bitcoin helps... However if I was starting out and could afford a mortgage, I think I would take it as it gives you a boost as you benefit from Cantillion effect.
Save in bitcoin, be smart about debt and don't buy a 60k car or take crazy student loans when you can teach yourself most stuff.