Its not that amazing really, but this morning when I went to get my morning coffee at Dunkin' Donuts™, the clerk sold it to me for .51 cents. I was amazed and I wanted to throw it out there to anyone else in the Boston/Dowtown Crossing Area. It was the Dunkin' Donuts next to the Capital Crossing Bank. The guy actually rang it in to the register, so he might have miskeyed, or they might have mispriced it for .51 instead of say 1.51. Either way, it was good stuff.
Despite all of the back and forth about sub-prime mortgages and the housing bubble, I am feeling just fine. The reason is that when purchasing, I followed some old advice: Don't expect to flip. In general, I've been told by many people that you shouldn't buy a home unless you plan to hold on to it for 7 years or longer. If the market does well and you decide to sell, fine. But if you want to be sure not to lose money, don't buy something that you only want for a year or two. I've been in my current location for more than 3 years. I like it. And I have no intention of leaving in the short or medium term. It seems to me, that real estate, like any asset class, has its ups and downs. But as a practical point, I don't look at my home as an asset per se. Rather, I consider it to be a fixed expense that I need to survive, much like food and water. Therefore, as long as the payment is reasonable and it functions to keep me warm and sheltered and comfortable, that is a...
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