buy a house outright, no loan, page-31

Shangrila,

Unfortunately not many people understand that there is 'good debt' and 'bad debt'.

If what you are choosing to do works for you, then that is fantastic, but to assume that getting into debt for property is so bad is a very narrow view.

Using your own 'post tax' earnings reduces the speed at which you can move. Using someone elses money frees you up to do much more in a shorter space of time.

I have plenty of debt in property, but use it to purchase property with a view to sub-divide and on-sell. I make a great return vs the outlay (debt repayments) and move it into another.

So I suppose the answer to your question is that not everyone is financially educated.... they don't teach that in school- but they should.

I wish you luck in your endeavours....