Comment on Study: Hopeful homebuyers need income of nearly $117,000 to afford typical home in U.S.
TimewornTraveler@lemm.ee 3 days agodebt? our mortgage costs the same as my sister’s rent, but we’re not pissing our money away to a landlord every month. when we sell the house, we’ll be getting our value back and then some. even if we only stay a couple of years and merely break even, we’re essentially living rent free during this time
Yawweee877h444@lemmy.world 3 days ago
That’s a different topic, although I agree with you.
I’m pointing out the undeniable surface detail, you owe money to the bank for 30 years. It’s debt. Pretty simple.
I hate giving away free money to a landlord every month also. But when you get a mortgage you’re giving away free money to a bank, in the from of interest.
There could even be an argument that landlords provide more of a service, in the form of upkeep and repairs. The bank provides no service, other then fronting cash.
Tomato tomato. I hate landlords and the mortgage industry both. But generally you’re right it’s much better for the individual to own due to equity and ownership.
The shitty thing for me and many people though is owning is semi-permanent. More of a hassle to sell and move. Landlords suck when they have year leases which also makes things harder if moving is necessary, but can be easier than owning. I try to only live in places that are month to month.
Call me a commie, I’ll accept that label with pride, I think all things housing should be socialized and regulated as a public good. No more profit for banks, wall street, hedge funds, etc. And yes, that includes small time landlords. I don’t know or care how it would be organized or work (it never will), but I hate our current system. People with more wealth are able to exploit and take advantage of people with less wealth. Full stop.