07 Aug 12 07:15, TOM WALKER wrote to ROY WITT:

 RW>> Some people don't believe that because the money paid in rent is a
 RW>> cost of living, no matter where that is. I had a friend who rented
 RW>> and put what he saved in loan interest into a money market fund. He
 RW>> died a rich man and someone else rented his apartment the following
 RW>> month.

 TW> TOTALLY WRONG Thinking.

That's what I told him.

 TW> I just cranked a few figures from younger years in the loan
 TW> calcualtor and for a $95,000 Home Laoan with a $700 per month payment
 TW> one would have only saved $93780 in Interest. THAT IS FAR from Rich.

I think he got rich from his fur coat trading business, when he lived in
Detroit. He could very well have afforded a place of his own, if he wanted
one.

 TW> AND after the $700 stops that part of what you called "cost of
 TW> living" drops dramaticly as only a much smaller amount of property
 TW> taxes remains

This sounds like you're saying that property taxes go low as the property
ages. That can't be, as my property taxes don't do that, nor did they do
that in San Diego county.

 TW> For those that can swing the payments NOT buying a house is
 TW> Terminally STUPID

True.

 TW> I canot express how great it feels to only be paying the property
 TW> Taxes to put a roof over my head.

We could do that, but I'm reluctant to pull enough money out of the money
and stock market to pay it off. It's better to let the gov't make those
payments out of my SS check every month for now. And we still have the
income from the markets to offset the interest paid...

                R\%/itt

... besides, IMNSHO, Ward Dossche should resign as ZC2 and surrender his
... net node-number to the ZCC !            - Cato the Elder -

... Reminder:

... On Friday September 8th 2006, Mike Godwin's 16 year experiment was
... concluded and Godwin's Law was officially repealed by a popular vote
... among millions of individuals.

... http://repealgodwin.tripod.com/


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