Sunday, June 19, 2011

NY Times on paying off your mortgage

I wrote a post on this last year, but the New York Times did a much better job recently covering the story. Not surprisingly they have better writers on staff, even if they tend to report misleading or incorrect information occasionally.

I still don't understand the psychological value of paying off your home as the article talked about. It confuses me that people wish to have a significant portion of their wealth tied up in an asset which is very illiquid and and has historically low growth potential. (Click on the link for seasonally adjusted home price index levels)

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