Quote:
Originally Posted by mikeivb
I can understand the logic behind saving for 30 years and then buying with straight cash, but a lot of people's circumstances change in those years, such as having kids, etc...
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Exactly, and when you own and have to sell/buy another home cause you have to move, downgrade due to loss of a job or stay-at-home mom, or upgrade due to large family, .. you're taking a 10% loss on the house you sell, and another 2-3% buying the next house.
There was a study done that showed someone who flipped houses 3 times in the last 10 years made very little after all the fees.