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Reading Summary

In: Business and Management

Submitted By shirley8928
Words 331
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62. BUY OR RENT
In this paragraph, the author suggests folks do not buy a home unless they can see staying put for more than five years. I agree with this idea. In some area, the price value is overvalued. Meanwhile in some area, the house price still undervalued. But it is difficult to figure out the real price of the house. Someone can make a profit, but someone will make a loss. For example, my aunt’s family purchased 10 apartments during financial crisis. The prices of those apartments are really cheap and undervalued. My uncle remodeled those apartments and rent them to other people. Under this situation, folks can invest their money in house and make profits. If you don’t have long time horizon of the future house market, don’t buy a house as your investment.

64.LEVERAGE
In this paragraph, the author mentioned that although the price of the house you purchased goes up, you still may be risking a loss. However, the paragraph outlined a situation where a buyer purchased a home with a 20% down payment. I am confused about how the author determines the home equity would be close to $140,000. Moreover, my question is if the person pays the whole amount of the house and the price of this house goes up, can we say the folk make a profit from the house?

80. SECTION 529 COLLEGE SAVINGS PLANS
In this paragraph, the author mentioned the advantages and drawbacks of section 529. I think the advantages outweigh the drawbacks. First, your savings grows tax-free only if the money is used for qualified education. Second, for wealth families, section 529 is also a good way to get their money tax-free quickly. However we can’t ignore a situation that if a family just has one child and the child doesn’t go to college, section 529 becomes useless. Furthermore, the family will face with income taxes and tax penalties on the tax-deferred

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