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Good Warren Buffet Quotes Last!

Some quotes/advice don't age or become outdated and continue to remain true and relevant, no matter what interest rates are doing. This is why a mortgage, even right now with elevated rates, is still a good, wise deal and why Buffet’s quote is still true and invaluable advice today:
 
"If I knew where I was going to want to live the next 5 or 10 years, I would buy a home and I'd finance it with a 30-year mortgage and it's a terrific deal. If you're handy, consider buying a couple of homes." Warren Buffet.
 
Many argue renting is so much smarter than buying because it’s cheaper monthly, in areas, not all, and you can use your capital for better investments that may/mostly deliver better value growth than housing. Many don't have the discipline to do so and owning a home is forced savings versus squandering any surplus on day to day living rather than investing.
 
But, before you conclude anything, please consider the following additional questions and answers: 
 
1.  Q: Can you buy $500k worth of Google, Apple, Microsoft, Coca Cola and Verizon stock with 20% down and finance the rest? A: No. 
 
 
2.  Q: Can you pay a much lower tax rate on your stock capital gains? A: Yes, but, there is no long term tax gains exemption on stocks of $250k for singles or $500k for couples that apply to homes, those are tax-free gains.
 
3.  Q: Do fixed rate mortgage monthly payments rise over time? A: No. 
 
4.  Q: Can stocks go down sharply in value and can some become valueless?  A:Yes. Most don’t, but some can. A fully insured house may devalue too but disappear and become valueless? No. 
 
5. Q: Can you live in your stock portfolio? A: No. You can stare at it, but you need to live somewhere, catering to an essential need while doing so. 
 
6.  Q: Can you lower an interest rate on a mortgage if rates drop notably? A: Yes.
 
7.  Q: Can you avoid monthly payments to live somewhere? A: No. Maybe with parents or on the couch of a friend, but you must live somewhere.  Either paying rent or a mortgage payment. Rent payments do not build equity over time.
 
Is Warren Buffet's quote slightly less of a 'good deal' today than when he said it years ago? Yes, but it's still at least 90% as true, impactful and meaningful.
 
So now I will leave it to you to answer the next question about that 10 year old quote: Is a 30 year mortgage still a good deal? I know my answer! 

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