NOYB wrote:
I am paying interest-only on a 5-year fixed at 4.25%.

Pardon me for being blunt, but that's friggin' dumb. That's as stupid as
punting on 3rd and short. Do you *want* the economy to take a big
chunk out of your future?


... I really can't
afford an $825k house (with a conventional mortgage) while I am still paying
off my business loan. But if I didn't buy when I did, I'd never be able to
afford it.

So why do you feel you need an $800K+ house? To show off? To impress
your trophy wife?


... When my loan is paid off (in just under 5 years), I can easily
afford such a house.

In 5 years, a lot can happen. Including double-digit inflation and a
real estate crash... but in your case it sounds like a much less severe
scenario will still seal your financial doom.



... I look at like this: I'm effectively renting the house for
5 -years (but with a tax write-off!)

Or tying a huge anchor around your neck for the rest of your earning life.

Did the banker who wrote your mortgage feed you this justification? Did
he give a shark-like smile as he did so?

A whole lot of people in California got a big chunk bitten out of their
hides by this beast. But hey, don't listen to me...


Those people weren't in the same boat as me.

Yeah, yeah, yeah. Hope springs eternal etc etc... unfortunately, so does
self-deception.


I *hate* the fact that I have to spend as much as I do on insurance...but
it sure makes me sleep better at night.


Insurance is just legalized gambling. Think for a second... why do you
have to gamble so heavily on your own failure? If you weren't taking big
risks, you wouldn't need so much insurance.

Personally, I wouldn't roll those dice with my own future, much less my
families. OTOH I handle a lot of stock market investments without a
qualm, and sleep very well indeed at night.

With good wishes
Doug King