There are those who say that owning a home is a waste of money, that you can make higher earnings by investing that money elsewhere. Where that may be true for some people I can safely say that a whole lot more people lose everything and end up with nothing.
To me owning your own home is the best investment, especially for those people who find it hard to save. By paying off their home they are actually saving a portion of their income that they would normally spend. The added bonus is that over time the value of your home goes up and it is a secure investment. Later on you can always use the equity in your home to further other investment opportunity.
Apparently real estate in San Diego, especially the luxury home market in Southern California is booming. There are investment opportunities available for smart investors and it is certainly worth looking into.
Of course a home is an investment; but it is also a place to live. Unless you live with your parents you have to pay rent somewhere. And a real estate market can also turn around and go south. I prefer a jumbo money market account. If you cannot stomach a loss in the real estate market or stock market; this is almost guaranteed to make money.
I have never heard of a jumbo money market account. I don;t think we have those in Australia.
Sire,
A money market account is a bank that you place your money in. They pay you each month. In the United States your money is insured up to $100000.
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I love the idea of having your money insured, especially in the current market. Are you charged for the insurance cover?