Re:Owning nothing is now a luxury, thanks to a number of sub...
by Godel_unicode on Tuesday June 11, 2019 @01:25AM
(#20153189)
> better off with a mortgage because it forces them to save money
I'm going to go ahead and guess you don't have a large peer group who were buying houses in the late-2000s. A mortgage in no way forces you to save money, added to which it has a tendency to decrease savings due to the moral licensing of exactly your train of thought. "I'm already saving with my sweet ARM, I can afford to lease that car!"
People who are financially illiterate are going to be bad with money, regardless of the system.
I'm going to go ahead and guess you don't have a large peer group who were buying houses in the late-2000s. A mortgage in no way forces you to save money, added to which it has a tendency to decrease savings due to the moral licensing of exactly your train of thought. "I'm already saving with my sweet ARM, I can afford to lease that car!"
People who are financially illiterate are going to be bad with money, regardless of the system.