There is an article today in Sydney Morning Herald
http://www.domain.com.au/Public/Article.aspx?id=1192300831878&index=NationalIndex&headline=Does%20renting%20make%20more%20sense?&s_rid=smh:Homepage
Does renting make more sense? asks Author David Koch
in response to that, another opinion:
—————-
He wrote the article on number of assumptions
1. He assumed everyone , who are well aware of markets.
2. He assumed forced saving is wastage and inefficient way of investment. But he ignored liquid money with us, makes us spend thrift, and we easily spend them.
3. He assumed “markets give higher returns all the ltime like this year”, which normally not so. yes this year, markets world over fared extremely well. and relaity much more.
So I suggest to go for buying a flat or house.
some people’s mentality isquite diff from the west or advanced countries in these matters:
1. We normally fear debt, selling our future time for the present needs
2. we feel a sense of security, when owned a house or property. That sense of security can never be had by any other means. Try and let me know if you find one.
3. We can not forecast how reality prices will be after 20 yrs, even best of the best economists also.
4. Money can be produced by printing, not land or realestate. Quantum of money is going up every year, where as land is SHRINKING.
this is my single most point, for my advice and proposal.
