How long till we can buy a house?
Jul 5th 2010, 3:48 pm
#16
887 lb pumpkin
Joined: Jul 2010
Location: The Heart Of The Valley
Posts: 232
Jul 5th 2010, 4:06 pm
#18
Binned by Muderators
Joined: Jul 2007
Location: White Rock BC
Posts: 11,682
Re: How long till we can buy a house?
In any case, I can't take someone who uses multiple exclamation marks seriously.
Jul 5th 2010, 5:43 pm
#20
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Joined: Sep 2004
Posts: 1,165
Re: How long till we can buy a house?
Jul 5th 2010, 5:47 pm
#22
Joined: Aug 2005
Posts: 14,227
Re: How long till we can buy a house?
Using credit and getting into debt are not the same thing. The OP was advised to do the former so they can build up a history with lenders which will make getting a good mortgage deal easier. Nothing wrong with that.
Jul 5th 2010, 5:53 pm
#23
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Joined: Sep 2004
Posts: 1,165
Re: How long till we can buy a house?
Credit is just a nice word for debt.
Debt is just a nice word for enslavement.
Jul 5th 2010, 6:00 pm
#24
Joined: Aug 2005
Posts: 14,227
Re: How long till we can buy a house?
And I don't know how you think people buy houses without using debt to do so. I will agree that many (especially here in Vancouver) have put themselves into usury to do so, but that doesn't mean credit/debt are bad things.
Jul 5th 2010, 6:08 pm
#25
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Joined: Sep 2004
Posts: 1,165
Re: How long till we can buy a house?
You misunderstand. Building up a credit history does not require you to get into debt.
And I don't know how you think people buy houses without using debt to do so. I will agree that many (especially here in Vancouver) have put themselves into usury to do so, but that doesn't mean credit/debt are bad things.
And I don't know how you think people buy houses without using debt to do so. I will agree that many (especially here in Vancouver) have put themselves into usury to do so, but that doesn't mean credit/debt are bad things.
That way we could tell the banks to stuff their interest terms where the sun don't shine.
You guessed right, I hate debt. I hate the fact that we spend a good chunck of our lives paying a mortgage or 25-30 year noose round our necks.
Jul 5th 2010, 6:15 pm
#27
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Joined: Sep 2004
Posts: 1,165
Re: How long till we can buy a house?
RICH, well you may be one of the lucky exceptions. But the rule of thumb in the western world is to encourage us to take out huge debts when we are young and spend our whole adult life paying it back, with plenty of intrest of course. Modern day slavery in disguise and I for one am sick of it 
Jul 5th 2010, 6:18 pm
#28
Binned by Muderators
Joined: Jul 2007
Location: White Rock BC
Posts: 11,682
Re: How long till we can buy a house?
Alan, I am just sick of this whole big mess this world is in now due to debt. Everyone just seems to be in staggering debt. Just bring back the good old days of living a simple life and saving up until we could afford things.
That way we could tell the banks to stuff their interest terms where the sun don't shine.
You guessed right, I hate debt. I hate the fact that we spend a good chunck of our lives paying a mortgage or 25-30 year noose round our necks.
That way we could tell the banks to stuff their interest terms where the sun don't shine.
You guessed right, I hate debt. I hate the fact that we spend a good chunck of our lives paying a mortgage or 25-30 year noose round our necks.
I think debt used to, say, buy a home, an investment, get an education or start a business is a sensible approach to financial security. Borrowing to buy a car, or a TV, or to take a holiday is a mug's game.
Jul 5th 2010, 6:19 pm
#29
Lost in BE Cyberspace
Joined: Aug 2005
Location: South of Calgary
Posts: 13,374
Re: How long till we can buy a house?
RICH, well you may be one of the lucky exceptions. But the rule of thumb in the western world is to encourage us to take out huge debts when we are young and spend our whole adult life paying it back, with plenty of intrest of course. Modern day slavery in disguise and I for one am sick of it
Jul 5th 2010, 6:21 pm
#30
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Joined: Sep 2004
Posts: 1,165
Re: How long till we can buy a house?
There is a simple rule: borrow to buy things that go up in value, save to buy things that depreciate.
I think debt used to, say, buy a home, an investment, get an education or start a business is a sensible approach to financial security. Borrowing to buy a car, or a TV, or to take a holiday is a mug's game.
I think debt used to, say, buy a home, an investment, get an education or start a business is a sensible approach to financial security. Borrowing to buy a car, or a TV, or to take a holiday is a mug's game.