Jessica Irvine is the National Economics Editor for News Limited.
She and her husband have carefully weighed the pros and cons, and decided that it makes more sense to join “Generation Rent”, than to spend the next 3 decades of their lives paying usury to the banks:
I’m moving in two weeks. Yep, it’s all cardboard boxes and roller tape at our house.
Happily married for two and a half months now, we’re on to the next big adventure.
Buying the dream home with white picket fence? No. Not for us. Not yet.
We’re signing a 12 month lease and moving to an apartment in the city to be closer to work.
You see, I’m part of Generation Rent – the generation the urge to buy property passed by.
Where our parents see rent money as “dead money”, Generation Rent baulks at the idea of becoming mortgage slaves, shackled to the high interest demands of a supersized mortgage. Interest paid to the bank is as dead as any rent money.
Far from frittering away our money, we’re actually showing a level of financial conservatism not seen since our grandparent’s generation. We’ll save now and minimise our debt burden later.
We’ll step on to the property ladder eventually, if it suits us. And if we don’t have to pay more in interest to the bank than it would cost to rent.
Click the link and read the whole thing.
Jessica’s reasoning for her decision makes sound financial sense.
And whether she realises it or not, it makes sound moral sense too.
That is far more important.
By choosing not to sign up for decades of debt slavery, by choosing not to pay “interest” to the vested usurers, she is striking a blow against The World’s Most Immoral Institution.
And setting a wonderful moral example for others to follow.
Well done Jessica!
DON’T BUY NOW!!