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A comment on Golden Rules for Making Money (1880). Parent comment

Re:Golden Rules for Making Money (1880) by pmoriarty on Monday March 25, 2019 @02:38PM (#19485388)
"Are mortgages really debt though? Because even though you owe, you also own as much as you owe (except during a market downturn of course)."

You also pay interest, which could be a huge amount (depending on how quickly, if ever, you pay off your principal).

[ Parent | on HN ]
Re:Golden Rules for Making Money (1880) by derekp7 on Monday March 25, 2019 @04:20PM (#19486401)
The interest though isn't debt -- as soon as you sell the property, you only owe at that time the remaining balance, not the total amount of interest you would pay. In other words, interest is what you pay to rent the money used to buy the house.
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