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Americans (or westerners?) are better at flaunting wealth that they don't have. In US, you buy a 3-bed house with garage and a big yard for $500,000. However
by dba7dba 9y ago
Americans (or westerners?) are better at flaunting wealth that they don't have.
In US, you buy a 3-bed house with garage and a big yard for $500,000.
However that $500,000 house with 30 Year mortgage at %4.125 actually %872,892. And that's if don't default on the house and lost it all in.
And look at the cars being driven on the road. How many drive cars that they own outright?
- scarface74 9y agoThe median cost of a house is around $188,000. https://m.huffpost.com/us/entry/4957604 https://m.huffpost.com/us/entry/4957604
- emodendroket 9y agoA house you can live in now is worth more than one you can live in in 30 years, and any consideration of interest that doesn't also consider inflation will produce a distorted picture.