Comment on WeWork founder remains a billionaire even with firm’s bankruptcy | The Straits Times

• bionicjoey@lemmy.ca ⁨1⁩ ⁨year⁩ ago

  So everyone needs to be able to spend the upfront capital to buy a home? What about people who want to rent? There are lots of advantages to not buying.

  source

  • Bonskreeskreeskree@lemmy.world ⁨1⁩ ⁨year⁩ ago

    The advantages you mention are a result of inflated values. Your parents generations could much more easily buy a property and decide to sell it within a few years to move somewhere else.

    source
  • Neato@kbin.social ⁨1⁩ ⁨year⁩ ago

    Loans exist. And reduce the upfront cost in paperwork to buying a house. It shouldn't cost nearly 5 figures just to get documents signed.

    source

    • bionicjoey@lemmy.ca ⁨1⁩ ⁨year⁩ ago

      So instead of paying rent, you pay loan payments. And the bank can seize your property if you can’t pay. Sounds like six of one and a half-dozen of the other.

      source

      • halowpeano@lemmy.world ⁨1⁩ ⁨year⁩ ago

        You’re still thinking within the current broken system. The only reason the bank can seize everything unfairly no matter how much had been repaid is because the laws allow it.

        source

        • -> View More Comments
      • Neato@kbin.social ⁨1⁩ ⁨year⁩ ago

        Mortgage payments build equity and when you move you can sell the property and recoup nearly all of that. Rent is gone.

        Foreclosure is a huge issue that needs to be addressed in legislation. All that equity should still exist for the homeowner even if they stop being able to afford payments.

        source
      • Blackout@kbin.social ⁨1⁩ ⁨year⁩ ago

        Rent keeps going up, my mortgage is the same regardless and I purchased based on what I could afford at that time.

        source

        • -> View More Comments