4 ms·

Ambiguous use of 'cannot' versus 'are not' all over this article.

• nxsynonym 9y ago
  This. As a millennial buried in student debt I can hardly afford to put any money aside for a emergency fund, let alone a down payment on a house. Unless I get a major pay bump or cost of living reduction, I'm currently on track to pay almost 200% of my initial borrowed amount. All that money that could have gone towards a down payment will instead go towards a degree that I was told was necessary to "make a living". So my options are either find someone willing to loan me the down payment amount at an insane interest rate, or continue to throw money into the trash by paying rent.
  • derekp7 9y ago
    Trust me, home ownership isn't much better than throwing money at rent (depending on the market of course). Property taxes, insurance, maintenance, plus interest and PMI all dominate your monthly housing expenses -- the few drops that go into principle don't amount to hardly anything for the first 10 years or so. In my case, the numbers looked good in the beginning. But then insurance went up 5x, property tax more than doubled, and the market tanked. Took a long time to get out of that situation.