"the equity in the house doesn't earn interest as it would if it was in the bank"
I inherited some money in 1997 and I bought a flat with it, with the help of a small mortgage. It's now worth at least three times what I'd have if I'd put the money in the bank and not touched it for 11 years, despite interest payments and all the rest. The last eleven years have been a bit unusual, though.
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timeasmymeasure
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Date: 2008-07-12 10:52 am (UTC)I inherited some money in 1997 and I bought a flat with it, with the help of a small mortgage. It's now worth at least three times what I'd have if I'd put the money in the bank and not touched it for 11 years, despite interest payments and all the rest. The last eleven years have been a bit unusual, though.