Question: And good for you! That’s a better way to live. Free. Credit is perpertual >>slavery. >>…. >If credit is perpetual slavery, I must have broken the mold then >because my wife and I are living in very nice upscale debt-free house. >She is driving a 1999 Camry XLE and I am driving a 1998 Ford F150 >Lariat. Borrowing to get ahead has worked for me enjoying nice >houses and cars over a 50 year period which would otherwise have >taken at least 10 to 20 years just to save enough to purchase my first >house while driving a 10 to 15 year old vehicles all the while.
>No thanks, Ilya. I respect your philosophy but don’t presume it’s for >everyone. You apparently spend countless hours trying to convince >people of your way and believe that there is no other way. But, >society in general proves otherwise. You continue to wait for >Armageddon and enjoy your debt-free living and I and others will >enjoy our debt-ridden possessions through lifetimes. It has been >said that when one dies, there is nothing wrong with passing on debt >to one’s estate instead of passing it on to one’s children.
Answer: What you say has an element of truth, but it took you 50 years to get there. The economy has changed in the meantime. My parents managed to purchase their own home too- it was 17K in the 1960’s. The house would sell for something like $150K today. Do you honestly think that a pair of simple bumpkins like my parents would ever be able to pay off a $150K mortgage?
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