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>> In the USA, over 60% of housing units are owner-occupied Does that include houses with mortgages? Because in my opinion if you're not really the owner unti
by mamon 6y ago
>> In the USA, over 60% of housing units are owner-occupied
Does that include houses with mortgages? Because in my opinion if you're not really the owner until you've paid off your mortgage fully.
- tayistay 6y agoI'm sure it does. Your ownership is in proportion to equity. It's not as if your life situation suddenly changes when you make that last mortgage payment. Your point makes me wonder if mortgages just had the effect of transferring rents from landlords over to banks.
- mamon 6y agoIn some sense yes, you're paying rent to your bank. But the difference is: with a landlord you would pay that rent indefinetely, with mortgage you pay it for 20-30 years and then the house becomes yours.