Originally Posted by ScrapIron
Not something i would finance in todays world of unpredictable markets and hyperinflation.
Immediately before periods of inflation is exactly when you want
to take on debt, dude. Inflation is good for debtors and bad for creditors. (It's also bad for anyone who was responsible and has saved money, has an IRA, etc., because all of that money loses value.)
To make an extreme example: Let's say you make $100,000 dollars a year, and you buy a house for $300,000. So, you owe 3x your annual income. Then, in the next year there is 200% inflation. Well, your income has tripled so now you make $300,000 a year... and still only owe $300,000 on the house (less whatever you have paid in the interim). So now you only owe 1x your annual income. Win!
The problem is that we are not actually in a period of hyperinflation. And during
the period of hyperinflation interest rates also tend to skyrocket commensurately, so you have to take on the debt before that happens.