I've got plenty of room in my cave!
Note: Our goal in Minyanville is to remove intimidation from the financial markets and encourage an interactive dialogue among the Minyanship. We share this next discussion with that very intent.
I put my cards on the table by selling our family home here in San Diego when the yen went sub-105. Even with a high maintenance wife and 2 babies. We're renting a home around the block for peanuts. In 6 years, our home has been a 4-bagger or 400% increase. Or if you look at the ROI on our down payments, it's like 40 times our money in 6 years. That's VC caliber. Not bragging here. Just that you can't get those kinds of returns without something being very wrong structurally. No one understands the risks out there. Scary.
I decided to do something about it. I'm not gonna have Elmer dictate my net worth.
I happen to share your view that the housing market is....how shall we say, problematic? While each Minyan must make decisions that are consistent with their individual needs and particular views, I have opted to rent (rather than own) my NYC apartment. I have also made a conscious effort to have zero debt--something that Ruby taught me at a young age and I've followed my entire life. I understand that many aren't afforded the luxury of choice but as always, I can (and will) only share my process with hopes that it adds to yours.
Thanks kindly for the email and have a fantastic weekend.
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