And where is the price of real estate doubling?

That aside, ever try to go cruising in a condo?

What if you own a house, take out a small equity loan, buy your dream
sailboat, and write off the interest against taxes.

Please don't get all IRS on me. I know, you know, the whole world knows
that the equity money is SUPPOSE to be spent on the house/property.

Did you hear about the yachts that the USA is building in Iraq. Yup, yachts
.... it is all part of the rebuilding of Iraq program.

-------
"Jeff" wrote in message
. ..
Gogarty wrote:
Can't speak from personal experience here. My philosophy is that if you
can't pay the full purchase price for your boat in cash at closing,
without
borrowing, don't buy it.

That would limit most of us to a pretty small boat. Pay cash for your
house and car too? Debt has its uses. They don't call it "leverage" for
nothing.

I'm not in expert in this, but I would think that "leverage" is best
applied to assets that appreciate, rather than depreciate.

Buy a house with 5% down and you win big when the value doubles. Buying a
boat with 5% down is a formula for disaster.