which I grew up thinking was like an invitation to penury
Yes, this is exactly it - trying to fold my old-fashioned ideas about finance into the new model of property mortgaging. To be honest, I'm not even sure that buying property is even worthwhile in the current market - it's certainly beginning to slow down and stagnate here, and the rental market is still very workable, and I'm starting to think I need to throw off ALL of the conventional wisdom and stay in a rental and invest all of that extra income that would go toward a house payment into an IRA or something. I think it's possible that the housing market is so upside down that its value as an investment is pretty limited, but it makes me very anxious.
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ninetydegrees
no subject
on 2006-08-31 03:32 pm (UTC)Yes, this is exactly it - trying to fold my old-fashioned ideas about finance into the new model of property mortgaging. To be honest, I'm not even sure that buying property is even worthwhile in the current market - it's certainly beginning to slow down and stagnate here, and the rental market is still very workable, and I'm starting to think I need to throw off ALL of the conventional wisdom and stay in a rental and invest all of that extra income that would go toward a house payment into an IRA or something. I think it's possible that the housing market is so upside down that its value as an investment is pretty limited, but it makes me very anxious.