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Originally Posted by Hootie
No one buys a house in cash...that's just reeruned. Makes NO sense.
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People DO pay cash for houses. If you listen to the Dave Ramsey show or read his books you would know this.
In Dave's book "The Total money Makeover" Dave tells the story of a young married couple that lived in an very small apartment over a rich ladies garage. She only charged them $250 a month. He was making $50,000 a year and his wife $30,000. His granfather had preached to him to never borrow money. For 3 years they lived on nothing and did nothing extra that cost money. After 3 years they had saved $150,000 and paid cash for their first home.
Paying cash for a house is possible, very possible (I also work with someone who paid cash for their house). What's hard is to find people willing to pay the price in sacraficed lifestyle.
How much more wealth could you build if you didn't have a house payment? Look at all the stress off the marriage without a huge house payment.
reeruned??? Are you kidding me?