Comment on A conundrum
prettybunnys@sh.itjust.works 2 days agoThe other side of that is that my mortgage, even with rising property taxes and my house appreciating wildly in value, tracks less than renting.
If I could rent a place for the price of my mortgage with the cost rising at the level my mortgage does … I’d rent all day long
rc__buggy@sh.itjust.works 2 days ago
Yeah, that’s the thing. The market went upside down. Maybe 1993? Before that renting made sense even from a financial perspective in many areas. But now when housing is double or treble inflation? Nope. Sink money into real property at your first opportunity.
We have fucked up the entire “developed” world so much that if you start poor you stay poor and housing is a large part of that equation.
prettybunnys@sh.itjust.works 2 days ago
In my lifetime interest rates on mortgages went from high teens to the 3.whatever I have.
Home values skyrocketed and now the expectation seems to be this must continue.
Honestly I’m happier to pass my house on to my kid than turn a profit on it.
rc__buggy@sh.itjust.works 2 days ago
Right? My parents were ecstatic to get 11% on the home I grew up in. Now my mom’s retirement condo? three dot whatever like you said.