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2/11/2013 8:02:00 PM
1
Credit and loan rates on secured debt (home, car, etc.) are far too cheap right now not to have it. I cash-out refinanced all my cars months ago and continue to hold mortgage debt because of how low the loan rates are. If you have excellent credit, banks are literally giving you money if you factor in inflation.
Which is what the Federal Reserve wants, and I'm happy to oblige.
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^^ This. For people with really good credit, taking out secured loans (or many types of student loans as well) is almost like a perverse form of investment in the long term once inflation is factored in. Now is an excellent time to take out secured debt. As for me, my only current debt is my student loans from law school and my car, which I got at a rock-bottom interest rate last summer. I just sold a house, so I no longer have a mortgage, but I might buy again soon.
