Depends on your viewpoint I guess....
As an example, if I buy a house from you for 600k or 500k which is the better? Given it is the same house then the 500k purchase is better as I have the same asset but a smaller loan. IMO I have increased my overall net wealth 100k compared to the other option by paying less. Using your logic I would be worth more by paying more and borrowing more.
My logic may be flawed but I don't see paying more as better so long as I am getting the same asset. An that I guess is the crucial point.... has the asset changed in value? IMO it may have done in the short term but I don't think so beyond January ... I actually reckon transaction volumes will be up now compared to pre-November by now.
Anyway, better go do some work in my day job now
GLTA
MartyW
Ann: Operations Update, page-114
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