3 ms·
You still build equity (read: wealth) with a mortgage even with 0 appreciation. The expectation of infinite housing appreciation needs to stop.
by hamandcheese 4y ago
You still build equity (read: wealth) with a mortgage even with 0 appreciation. The expectation of infinite housing appreciation needs to stop.
- HWR_14 3y agoNot in a 3 year period you don't build much equity. Equity is built more in the later years. After the first 3 years, on a 188k house at 6% interest over 30 years they will have accumulated a little over $5,800 in equity. Less than the realtor fees would be (except this was a direct sale). Not nothing, but at that point well worth crunching the numbers on renting vs. buying.