3 ms·

Mortgage is locked in for 30years

• bottlepalm 5mo ago
  Taxes goes up, insurance goes up, repair costs goes up, and with a 30 year mortgage you lose like 50% the value of the home in interest payments.
  • vips7L 5mo ago
    Those are all rolled into rent too.
  • antisthenes 5mo ago
    > with a 30 year mortgage you lose like 50% the value of the home in interest payments. You don't lose anything. The interest is the price you pay for the time value of the loan given to you. You also get a tax break on at least 200k in "profit" (really more like inflation) when you sell the home.
    • bottlepalm 5mo ago
      Money spent that isn’t transformed into equity is considered lost.