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House loans make sense generally because:
1. You get a tax write off
2. They appreciate (over time).
Taking a loan on a boat to go cruising on generally does not make sense because:
1. The tax write off is meaningless if you have no income.
2. Boats decline in value
3. The interest rates WELL exceed what you can get by leaving your $$ in the bank so it is better to take it out and pay for the boat.
The above analysis is logical and applies only to going cruising on a boat.
Going cruising is not logical so disregard the above! (g)
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