3 ms·
The only problem with apartments in the US is the lack of equity.
by unethical_ban 3y ago
The only problem with apartments in the US is the lack of equity.
- pnutjam 3y agoEquity is a red-herring. People just want a place to live. Developers want equity.
- unethical_ban 3y agoA place to live is a base of the hierarchy of needs, but giving away $2000 to someone else for a place to live vs. putting $2000 a month into your own assets is not a red herring. Developers want equity because it is financial security and passive income for them. Regular Joes want it so they don't pay rent in perpetuity; that they may have a place to live in old age without working, among other reasons.
- pnutjam 3y agoAs if you can live anywhere without paying in perpetuity. If there wasn't an endless drive to increase the value of homes, this would all be moot.
- mlinhares 3y agoHate the game, not the players. All my friend's parents that didn't own their homes are completely fucked now that they're old, retired and their pensions didn't keep up with inflation. If you don't own the place you live you're just a rent hike away from the streets.
- pnutjam 3y agoYeah, I clearly indicated I hate the game.
- unethical_ban 3y agoPaying a small amount for property tax or insurance is different than paying full rental/mortgage each month.
- mlinhares 3y agoNot owning the apartment seems to be a very US thing, I owned two apartments in Brazil and had a small construction business that built small apartment buildings and it was almost all sold to owners.
- monknomo 3y agoeh, they are called condos or co-ops when they are owned by the occupant in the states. I think they're the same thing, though interested if there is some distinction I'm missing
- mlinhares 3y agoTIL. I don't think we have different names for them in portuguese, it's just apartments, for some reason full apartment buildings for rental aren't really a thing in Brazil, don't think I've seen many of them there.