A conundrum

Comments

• betterdeadthanreddit@lemmy.world ⁨2⁩ ⁨days⁩ ago

  The problem here is inability to read between the lines. The [bank?]'s message is pretty clear: “Stop polluting my sight, you filthy poor.”

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• rabber@lemmy.ca ⁨1⁩ ⁨day⁩ ago

  I hate the housing situation too but this is seriously a braindead take

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  • aBundleOfFerrets@sh.itjust.works ⁨1⁩ ⁨day⁩ ago

    Braindead take? This is just the reality of the situation for a lot of people

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    • devedeset@lemmy.zip ⁨1⁩ ⁨day⁩ ago

      Mortgage payments are almost never lower than rent unless you are seriously downgrading

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    • rabber@lemmy.ca ⁨1⁩ ⁨day⁩ ago

      I know that it is why why would you be entitled to own a home just because you can make rent payments? Do you think the bank should give you a mortgage with $0 down? There are enough people buying who can save a down payment just fine

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  • FosterMolasses@leminal.space ⁨1⁩ ⁨day⁩ ago

    More like a braindead comment

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• sirico@feddit.uk ⁨2⁩ ⁨days⁩ ago

  They did this before it worked out really well around 2008

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  • blarghly@lemmy.world ⁨2⁩ ⁨days⁩ ago

    Lemmy: blames capitalism for making loans too hard to get.

    Also Lemmy: blames capitalism for making loans too easy to get.

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    • Infernal_pizza@lemmy.dbzer0.com ⁨2⁩ ⁨days⁩ ago

      More like blaming capitalism for the fact that it’s necessary to get a loan just to afford something as basic as shelter

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    • MintyFresh@lemmy.world ⁨2⁩ ⁨days⁩ ago

      It’s almost like capitalism is bullshit

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    • sirico@feddit.uk ⁨2⁩ ⁨days⁩ ago

      What we have isn’t capitalism those banks should have gone under

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• Tall_Chilchuck@lemmy.world ⁨2⁩ ⁨days⁩ ago

  I’ve never paid a mortgage, but £500 seems pretty low. Do mortgage payments tend to be that much cheaper than rent prices?

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  • vala@lemmy.dbzer0.com ⁨2⁩ ⁨days⁩ ago

    Anecdotally I pay over 200% the cost of my father’s mortgage to rent a home in a lower cost of living area.

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  • ickplant@lemmy.world ⁨2⁩ ⁨days⁩ ago

    Definitely not as low as £500… but mortgages are generally cheaper, sometimes much cheaper than rent. Example: we own a 5-bedroom house with a mortgage of $1,900, my step-son just moved into a 2-bedroom apartment for $2,200 rent.

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    • lunarul@lemmy.world ⁨2⁩ ⁨days⁩ ago

      I paid $3300 rent back in 2020. Got a mortgage at the low rates in 2021 and got a $2800 monthly rate. So it seems like it’s cheaper. But once I add the property tax (~$1000/mo), HOA ($500), home insurance (~$300), it’s at all not cheaper to own than to rent. Plus paying for maintenance on our own (had to replace both the fridge and the washing machine in the time since we moved) adds up too. Not saying it was better to rent, but it was definitely cheaper.

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  • fakeman_pretendname@feddit.uk ⁨2⁩ ⁨days⁩ ago

    I think most of the people disagreeing with the post are from the USA, which has completely different costs/taxes/prices etc.

    In the UK (as the original post is), it depends where you live - our mortgage is about £350 per month (5 bed terrace), but if would have been almost £500 a month without the deposit. Rent in the area is about £600 - £1500 per month, for similar or smaller properties.

    Note that this is in Northern UK, in the sort of town sometimes described as “a bit of a shithole”. I could get a train to a town an hour away and the prices would literally double - but the ratio between mortgage and rent would be pretty much the same.

    Even with the cost of repairs, and a tiny bit on insurance etc, it’s a significant saving. Also, the repairs actually get done, which was not the experience I had in rented accommodation.

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• TankovayaDiviziya@lemmy.world ⁨2⁩ ⁨days⁩ ago

  Not buy a house, inherit a house from our boomer parents.

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  • bstix@feddit.dk ⁨2⁩ ⁨days⁩ ago

    They’ll sell it to pay for the elderly homes.

    You’ll only inherit the clay ashtray that you made for them in 3rd grade.

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  • outhouseperilous@lemmy.dbzer0.com ⁨2⁩ ⁨days⁩ ago

    Who didnt reverse mortgage it to pay for extravagant vacations.

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  • DeathByBigSad@sh.itjust.works ⁨1⁩ ⁨day⁩ ago

    Boomer parents: emotionally abuses you for your entire childhood/teenhood

    Me: Has severe depression

    Boomer parents: “WHY ARE YOU SO LAZY AND UNGRATEFUL, USELESS EATER, BURDEN ON SOCIETY” then proceeds to threaten to leave me out of the will.

    Funny thing is, she also threatens to leave my older brother out of the will. Basically she tries to make us hate each other, and we do hate each other. My entire family is dysfunctional. They are all conservatives, racists, LGBT+ phobic, has the toxic masculinity mentality, ableist af. They think anyone with a slight disability deserves to get executed because its “a waste of resources”. This is why dislike my ancestral homeland, it reminds me of hatred and intolerance.

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• NickwithaC@lemmy.world ⁨2⁩ ⁨days⁩ ago

  500 Vs 1000? What year is it?

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