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Showing posts from August 15, 2007

"Gage"ing progress

I feel bad about all these people losing their homes because they couldn't pay their mortgage. On second thoughts...why should I feel bad? It was their decision to buy a house when they didn't have enough money in the bank to buy the whole thing in one stroke. In the movie Million Dollar Baby, Clint Eastwood gives good advice to Hilary Swank when he advises her to pay cash to buy her first piece of real estate...a house.

For the past couple of years, I had been reviewing real estate in a lot of places: Newton, the North End, Charlestown, etc. But now I am going to wait a bit and buy real estate after I make enough money to pay cash for the whole thing. With only a single source of income (that is, a monthly salary), it could probably take a couple of decades. But you know how the saying goes: Necessity is the mother of invention.