Or do all traders live in one bedroom rented apartments? I don't know one trader that owns a house. The only traders that I heard of that own houses are also book authors. What does that tell you?
Traders are smart enough to not own a house. That's why I rent... I really like the month-to-month lease. That means, I can relocate to NYC, London, or Paris, Hong Kong.. at a heart beat.
Sold the house. Use the capital to trade. Its hard putting money down on a house when you know you can make such a good return on it. Im up 6% in january alone, thats an extra special month, im glad my capital wasnt stuck in a house. Besides, im over the house thing. Just a bunch of headaches. I like the care free living of renting and the flexibility to move whenever I get bored of an area. I think this whole "buying a home is the american dream" thing is way over hyped. Not everyone values owning a home, I sure dont. Not anymore.
I purchased my house in 1997 for 1.25M in Los Angeles (Tarzana), with 20% down. began trading in 2001 after 9/11.
They're good if you have to build a nest to raise kids in, otherwise, like these guys are saying it's nice to have options. JJ
I have my own house and i have enough money to trade. If you want to maximize the money you have for trading it leads to the next two conclusions: your return is probably lousy because by reinvesting your profits you can generated huge amounts of money and have a house at the same time if you want to maximize your working capital for trading you should stop eating because it would save you money, sell your car, don't buy cloths, don't take any vacation...... In short: stop living, make lots of money and die rich.
I could buy a home tomorrow and still have enough to trade, but then I would make less profit and have all the bullshit associated with owning a home to deal with. Ive owned homes in the past, and im so over it. I think owning a home is highly over rated. I move about once a year and get to experience many parts of the country
I guess I have some farmer blood in me because there is nothing like having your own land. I dont find taking care of it to be a headache at all.
Its good to own hard assets, something you can see and touch. Real estate and gold. Even rare books, stamps and coins and paintings, cars etc. More people become millionaires through owning property than any other way.