Quote from: Broly46 on October 28, 2022, 11:18:31 AM

Guy often tell me house is a force saving. By looking at the market today, full of scammer roaming around, and countless unsavoury characters and get rich quick scheme, jobless highly educated youth. I conclude buyhouse is not only a forced saving but also a save yourselves.

We often heard about a lot of highly educated youth had no jobs, underemployed, which is very bad today and getting worse day by day. What they often failed to see is it has been norms in the past, do you not know every scientist is borderline poor and bloke, Albert Einstein is not rich, Newton Isaac is bankrupt poor on south sea bubble, Wright brother is poor, we often read about how great are scientist on the textbook who create useful invention to improve life, but there is a catch, the textbook conveniently never mention the scientist personal wealth, its apparent textbook censor the information they do not want the kids to know all the scientist are living paycheck to paycheck and borderline poor, where they often has to wagecuck and sell their IP to the government to make a living, if they failed to create any IP they would be rejected just another bloke we often see on the street today, is homeless educated guy not often in the past?

Friedcat of the bitcoin is the modern day jobless highly educated genius, he is often regarded as genius youth who is living a frugal life, despite awarded with scholarship, and secure the top spot in the top business school, the guy goes on and create very useful product, create the asicminer, but very quickly the guy just simply goes broke and fall into endless debt burden, his company is broken, life broken and going missing forever after he couldnt pay the debt he owned, oh how ironically he is just the modernise Newton Isaac in disguise, such a nice addition, so guy listen, keep following the advice of go to school and study hard get good grade, get a good paying job with benefit, you would eventually made it in life, miraculously and magically you would be living happy ending life, its fine guy!

Then Im often getting bombarded with doubt Do you have a better system than existing one? Do you? Obviously I dont have any and I would never come up with one, keep trying to beat the house and to realise how great/lesser a person you are.

House price is soaring, but finance advisor telling me to debt maxxing on house loan 90% loan and 0~10% dp, and its fine. Because bank want to increase revenue, increasing house price is what the bank did, by increasing house price, guy would take more loan to buy house, that way bank can increase revenue by increasing house price and increasing the loan to buy house, then bank can charge interest on the house loan to make profit. But what I often heard is guy tell me to debt maxing on house loan, dont care about saving, its a recipe to disaster to me. So guy today hope the house price to collapse and they can shop house on the bargain, thats one wishful thinking, the bank cartel and house developer wouldnt allow that to happen, reduce house price would make it bad for bank to sell more house loan, and bad for developer too, the blackrock would stop that effort, however as usual some guy would loss everything due to greed, if over leveraged on house loan, would loss everything.

Indeed, buying house is a forced saving as we all need a house where we can live peacefully with our family and build lifetime memories without fear of paying rent every month and no fear of frequent rental increase which adds extra burden on our budget. having said that, buying house is also considered a secure investment, particularly in countries demand of houses is higher due to higher copulation growth.