Let's start with home ownership and then talk about college, insurance, the war against terrorism…
Home ownership – think about why you want to own a home. Just really take a step back and forget about all your biases. You think “renting is flushing money down the toilet”. You might think “home ownership is ‘roots’ for your family”. Why do you think these things? Isn’t it suspicious to you that everyone else says the same slogans? That I just wrote down the exact things that are you in your head when you try to justify buying a home?
Does it make sense at all that there is a trillion dollar industry (over 20 trillion to be exact when you add in mortgages plus the part of the economy that is dependent on home building) that wants you to own a home? Banks, the government, home builders, furniture makers, real estate agents, etc are all the priests and ministers of that religion. Don’t you think a small part of that 20 trillion goes into hammering again and again the marketing message that you need to own a home?
Just do the basic math on home ownership. It does not work. It will NEVER work. Maybe if home prices go down another 80% but that’s it.
You wake up every morning with a clean slate. But within seconds your mind dresses you up in all the lies for the day. Must aim for promotion at the job, must kiss ass to customers, must send my kids to school, must stay with my wife forever, must write a blog post, must go to war to defend American values, must vote, must eat organic (the irony being that if everyone ate organic the world would starve), must must must MUST.
Full article: The Trillion Dollar Lies by Altucher Confidential.