We're operating under unusual circumstances here. We have sustained inflation but interest rates are still very low. Under those conditions, it's actually wise to borrow money if you are able to qualify for a traditional fixed rate mortgage.
That's how my Dad's family lost their farms in the depression. My mom's family owned their land outright and had a couple banks. They lost the banks, but still had their land.
Now my grandfather was able to finally rebuy the old family farms in the 60's and we've had them ever since, but we always pay cash for land and operated on cash.
What is there to spend money on?
All I've got left is paying off mortgage debt at an accelerated rate.
And if you're waiting to take out a loan, DON'T WAIT, inflation means you're better off borrowing money now before rates and prices go up.
Borrow.
Seriously. If you have the ability, borrow money.
We're operating under unusual circumstances here. We have sustained inflation but interest rates are still very low. Under those conditions, it's actually wise to borrow money if you are able to qualify for a traditional fixed rate mortgage.
That's how my Dad's family lost their farms in the depression. My mom's family owned their land outright and had a couple banks. They lost the banks, but still had their land.
Now my grandfather was able to finally rebuy the old family farms in the 60's and we've had them ever since, but we always pay cash for land and operated on cash.
That was deflation, it's a totally different phenomena.
Your attitude on the usage of wealth is hyperconservative. Yes, it's safe, but it's also blind to opportunity.
The situation we are in today does not resemble the end of the 20's at all.
Nah, I don't recall saying anything like that.
'Sides, if it's on mah land, I can jist sheut it.
piles of silver?
the TV told me to use silver boolets to hunt (((vampires)))
You may have a broken TV.