Leverage (opens in new tab)

Possibly a misuse of the term, in its strict financial sense. Anyhow... For decades I've heard about the value or use of leverage. It's most easily recognized in our homes, often bought with a small down payment and a big loan, so that even minor increases in home value in early years create impression of a big return on our actual expenditure. Yet last year, when I took on several major home "repairs" (a loose term for work that included demolishing and rebuilding a decrepit garage), I could...