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> What is most depressing to me, where do people get the money?? It would take me 30 years of saving to get 500k, that's like 70-80% of my working life. Mortga
by maccard 5y ago
> What is most depressing to me, where do people get the money?? It would take me 30 years of saving to get 500k, that's like 70-80% of my working life.
Mortgages. This is why they exist.
> You would pay over 100k in interest fees alone on a long term mortgage.
You pay 100k of today's money in interest and fees over the course of 30 years. 100k in 1992 was worth far far more than 100k is worth today.
- 5350-uiop-1130 5y agoYes, because a bank will happily give someone on a 60k salary a 1 million dollar mortgage.
- maccard 5y agoThey won't, but they'll give two people on 100k salaries a 1 million dollar morthage