I find Altoucher instructive because I disagree with almost everything he says and I am amazed that he is still a financial commentator.
I do agree with Mr. Altoucher that owning a home is a personal life choice — and yes, homes are illiquid, mortgages typically take time to pay off, and unfortunately bank lending requirements were lowered so much in the last boom that many homeowners were left with negative equity.
Ultimately however, I find home ownership is rewarding and frankly, not everyone can rent a luxury apartment in the Back Bay nab.
Perhaps Altoucher should get married and have kids – then he would hear first hand how owning a home is indeed a better value proposition than he suggests. Did he ever try to rent Boston proper apartment with young children? But then again, maybe he shouldn’t get married, for the same reason he shouldn’t buy a home; spouses are costly, illiquid, you can be stuck with them for 30 plus years and most come with lots of strings attached, but hear’s the big problem for Altoucher you have to attract one to begin with.
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