Re: AKICIF: "X-Kaspersky:" header

Karl Johanson <karljohanson@[EMAIL PROTECTED]
> wrote:
> "Keith F. Lynch" <kfl@[EMAIL PROTECTED]
> wrote:
>> <rkshullat@[EMAIL PROTECTED]
> wrote:
>>> If you suddenly wanted to borrow a lender might be curious as to
>>> why someone your age had no credit history ...

>> Is that unusual?  I had the impression that most Americans -- or
>> at least the ones who go to cons -- are wealthier than me.  So
>> presumably they'd be even less likely to ever borrow money.

> Borrowing can be a tool of wealth creation.  We bought the house I'm
> writing from in 1988, mostly on borrowed money.

Good point.  It's less money to save money at interest until you can
afford a house than to borrow money at interest to buy one sooner --
but the amount you save in rent may more than compensate for that.
You have to live somewhere while earning the money to pay for a house,
and it might as well be that house.

I'd have liked to do that myself, except that houses were initially a
little out of my reach and are now way out of my reach.  Especially if
I were to go by the old rule of spending no more than a third of my
income on housing.

> We could have saved the money, and bought when we had enough, but
> note that it's appraisal is now more than 4 times what it was in 1988.

David Friedman keeps insisting that houses are just as affordable as
ever, if not more so.  That disagrees with your and my impression that
housing costs have increased much faster than inflation.

However, excluding the buying of houses, or perhaps a loan to afford
college, I can't see any point in ever borrowing money, except in
desperation.

(I'm speaking of an individual borrower, not a business.)
-- 
Keith F. Lynch - http://keithlynch.net/
Please see http://keithlynch.net/email.html
before emailing me.