Quote:
Originally Posted by artman
because it is also generating income in terms of appreciation.
|
People need to think long term. Even if the income being generated isn't paying the mortgage, it's a small price to pay.
Five or ten years on down the road that income will be generating income, not to mention they can write off the losses on their taxes as well as the interest. This entire time the property is going up in value.
What kills me is the people renting an apartment yet driving a $50k car.