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Mortgage debt, or more precisely, home ownership, locks you into expensive maintenance on an asset that is expensive to get rid of. You can't just downsize your
by Evbn 14y ago
Mortgage debt, or more precisely, home ownership, locks you into expensive maintenance on an asset that is expensive to get rid of. You can't just downsize your house -- all the benefit gets soaked up in transaction fees.
- protomyth 14y agoIt also limits the geographic area that you can look for non-telecommuting work.
- RougeFemme 14y agoAnd in some scenarios, it really "is" cheaper to rent. But renting goes against what we've been raised to believe, especially regarding the American dream, our sense of permanence/putting down roots, etc.
- yaddayadda 14y agoAgreed. While my student loans have constrained my options, my home ownership has constrained my options by many more orders of magnitude. I hate my student loans, but don't regret them. I hate AND regret my home ownership.