Comment: Thinking more

on this subject I guess some people do think federal reserve notes are wealth. These would be the people that argue that renting is better than buying because of the upkeep and property tax that is spent on the owned property. I've even heard Peter Schiff tell people they should rent because of these expenditures. Renting only becomes a method of gaining wealth if you take the units of measure that you would be spending on the expenditures and investing those dollars in something that is tangible and or is producing value. When it's all said and done If you own your home even if the property is worth less than you paid for it and you have expended units of measure on upkeep and taxes you have still protected a certain measure of your wealth. When you are done renting you have nothing to show for that wealth lost other than a memory of the service that was provided unless you did capitalize by investing the saved units of measure. I just had this discussion with a buddy that had convinced himself that he would have so much more money (ie wealth to him) if he was renting because of a sewer line he had to dig up and repair in his yard.