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A mortgage is a huge loan that uses your house as collateral, you can't get a capital infusion of that size and interest rate otherwise. If you use that loan

A mortgage is a huge loan that uses your house as collateral, you can't get a capital infusion of that size and interest rate otherwise. If you use that loan to purchase a house that appreciates at more than the interest rate you come out ahead, sometimes absurdly so if you buy in the right area. Additionally your housing costs are fixed. It's not ALWAYS a winner, but it's the primary source of wealth for most people for a reason, especially in the regions that won the globalization game in america (Urban ones).

jareklupinski 2y ago
> Additionally your housing costs are fixed even if this is true (boilers / repairs / maintenance costs rise over time), your income is probably not. I've toured a lot of apartments which are unaffordable for its current tenants, who can't sell at a lower price either because it would put them "under water", leading to otherwise bustling neighborhoods looking like ghost towns when the shops close for the day (the current owners live in a much cheaper area and only come in for showings)