Posts Tagged ‘purchase itself’
Ask the expert Moishe Alexander
Posted by: moishealexander on: June 15, 2009
There are various real estate “experts” who can be called upon and mountains of information to be viewed to cover the topics of home prices, trends and statistics as they relate to the art of buying a home.
| But looking at a home purchase as being important is only a small part of the real reason why buying a home is such a monumentous decision. The fact is, buying a home is a big decision because we go so deeply in debt to finance the house of our dreams!
Canadians have now borrowed several times their annual Gross National Product (the value of all goods and services produced in the country in a given year) and many more times the Gross National Income (the total wages and salaries paid to Canadians in a given year) in the form of mortgages. |
The consequences of non-payment of this debt creates a great deal of personal financial problems, which some contend are part and parcel of many other social problems in our society.
In other words, it is not the purchase itself, but the debt incurred to purchase a home and our level of comfort with incurring that amount of debt that is the really important factor in buying a home. Debt deserves our understanding and respect.
Moishe Alexander's Blog 