you cannot live in that house if everything goes "south" and cannot pay your 1% property tax (that's 10k a year for a 1M$ home, not easy if everything goes "sou

you cannot live in that house if everything goes "south" and cannot pay your 1% property tax (that's 10k a year for a 1M$ home, not easy if everything goes "south"), Let's also not forget HOA and maintenance. Owning a house is expensive, even after your mortgage is fully paid off. People like to simplify the model so they can feel good about owning a "paid" piece of land.