o houses； I point out that most people work all their lives paying for a home they never own。 In other words； most people buy a new house every so many years； each time incurring a new 30…year loan to pay off the previous one。
2。 Even though people receive a tax deduction for interest on mortgage payments； they pay for all their other expenses with after…tax dollars。 Even after they pay off their mortgage。
3。 Property taxes。 My wife's parents were shocked when the property taxes on their home went to 1；000 a month。 This was after they had retired； so the increase put a strain on their retirement budget； and they felt forced to move。
4 Houses do not always go up in value。 In 1997； I still have friends who owe a million dollars for a home that will today sell for only 700；000。
5。 The greatest losses of all are those from missed opportunities。 If all your money is tied up in your house； you may be forced to work harder because your money continues blowing out of the expense column； instead of adding to the asset column； the classic middle class cash flow pattern。 If a young couple would put more money into their asset column early on； their later years would get easier； especially as they prepared to send their children to college。 Their assets would have grown and would be available to help cover expenses。 All too often； a house only serves as a vehicle for incurring a home…equity loan to pay for mounting expenses。 In summary； the end result in making a decision to own a house that is too expensive in lieu of starting an investment portfolio early on impacts an individual in at least the following three ways：
1。 Loss of time； during which other assets could have grown in value。
2。 Loss of additional capital； which could have be
