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For all your moralizing, you're suggesting people forgo the sizeable benefits of using a credit card for day-to-day purchases because some people are foolish en
by peteretep 8y ago
For all your moralizing, you're suggesting people forgo the sizeable benefits of using a credit card for day-to-day purchases because some people are foolish enough to use it as a long-term loan?
> When will people understand that buying something now without the money is not freedom
I would imagine the vast majority of people worldwide who have a mortgage are happy with the end-result of that leverage.
- keyle 8y agoNo they're not. No one is happy with a mortgage. The very simple fact that mortages exist is the reason why housing prices have multiplied over the years.
- toomuchtodo 8y agoI'm happy with my mortgage(s); they allow me control of real estate it would've otherwise would've taken me 10-30 years to obtain. Cheap capital can of course create asset bubbles, but nevertheless, debt is one of the most useful tools you can use for wealth creation, innovation, and economic growth.
- AckSyn 8y agoFun fact. Housing prices weren't astronomical until mortgages were a thing.
- toast0 8y agoI was pretty happy with a mortgage payment that didn't go up, while rent tripled around me.
- keyle 8y agoYou live in a place that is so detached from reality in the rest of the world. Don't forget that. And consider how much you're paying for housing compared your parent ever did, and if you're still happy, maybe you should start wondering what kind of world you'll leave to your kids... Sorry but not sorry.
- flukus 8y agoYes the price of housing is out of control and it is in much of the western world at the moment. But mortgages existed long before this happened, there is no causation there. As for rent, even under normal conditions rent will be subject to inflation and a mortgage won't, plus there's that juicy zero rent future to look forward to.