第12部分(第3/8 頁)

that　for　many　people；　it　is　their　dream　as　well　as　their　largest　investment。　And　owning　your　own　home　is　better　than　nothing。　I　simply　offer　an　alternate　way　of　looking　at　this　popular　dogma。　If　my　wife　and　I　were　to　buy　a　bigger；　more　flashy　house　we　realize　it　would　not　be　an　asset；　it　would　be　a　liability；　since　it　would　take　money　out　of

our　pocket。

So　here　is　the　argument　I　put　forth。　I　really　do　not　expect　most　people　to　agree　with　it　because　a　nice　home　is　an　emotional　thing。 And　when　it　es　to　money；　high　emotions　tend　to　lower　financial　intelligence。 1　know　from　personal　experience　that　money　has　a　way　of　making　every　decision　emotional。

1。　When　it　es　to　houses；　I　point　out　that　most　people　work　all　their　lives　paying　for　a　home　they　never　own。 In　other　words；　most　people　buy　a　new　house　every　so　many　years；　each　time　incurring　a　new　30…year　loan　to　pay　off　the　previous　one。

2。　Even　though　people　receive　a　tax　deduction　for　interest　on　mortgage　payments；　they　pay　for　all　their　other　expenses　with　after…tax　dollars。　Even　after　they　pay　off　their　mortgage。

3。　Property　taxes。　My　wife's　parents　were　shocked　when　the　property　taxes　on　their　home　went　to　1；000　a　month。　This　was　after　they　had　retired；　so　the　increase　put　a　strain　on　their　retirement　budget；　and　they　felt　forced　to　move。

4　Houses　do　not　always　go　up　in　value。 In　1997；　I　still　have　friends　who　owe　a　million　dollars　for　a　home　that　will　today　sell　for　only　700；000。