Thursday, June 16

The House Always Wins

The New York Times, in today's article titled "The Trillion-Dollar Bet," reports that "The traditional 30-year mortgage with guaranteed payments is increasingly a loan of the past." Well, here at Revivalized, we're all about the past (see above, definition 3). And proud of it. So it's probably no surprise that we didn't opt for the "hot" "new" "fashionable" "bet" of home financing: the interest-only 5-year ARM.

What looks like a gamble to other people just looks risky to us. I mean, we're no Grandma and Grandpa, but we do admire previous generations' commitment to saving and security. I also feel a small glimmer of pride in knowing that choosing the old-fangled financing option means we're not contributing to Alan Greenspan's "froth" (a term I get inordinate pleasure out of, by the way). We're doing our small bit to keep the economy stable -- and protect our prodigious investment.

ps. Yes, I have become a tad bit obsessed with real estate economics ever since my net worth just went Code Red. You got a problem with that?


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