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A mortgage is different, because it is based on the price of homes inflated by speculation. Decades ago before speculation was so common, both homes and mortgag
by lucian1900 5y ago
A mortgage is different, because it is based on the price of homes inflated by speculation. Decades ago before speculation was so common, both homes and mortgages were very cheap relative to wages.
I’d happily pay everything besides the mortgage, it’d be far cheaper than my rent. Most months it’d even be zero. I could absolutely afford all maintenance costs, while I can’t afford the speculation-inflated price of the home I live in.
- deleted 5y ago[deleted]
- _-david-_ 5y agoIf you are not going to pay for the mortgage or rent then who owns the house? Nobody? Everybody?
- lucian1900 5y agoI’m just pointing out that the vast majority of what I pay my landlord is due to widespread asset speculation, as opposed to any labour he has done or paid for. Collective ownership would be even better, sure. Before 89 my parents paid to the state ~5% of one wage for a good sized flat. That covered amortised construction costs and maintenance. Housing doesn’t have to be expensive.