Re:Home ownership is the West’s biggest economic-policy mistake
by jjav on Wednesday April 21, 2021 @02:57AM
(#26886225)
> if your rent you probably spend less on rent
For a while, usually yes. Long term, no chance.
A mortgage can only ever go down. Rents most of the time only go up.
My mortgage was initially over 3K while rent had been ~1.5K. But years later, those equivalent rents are ~5K and my mortgage is under $1K. In a couple decades when I'm retired, who know how high those rents will be? But I know exactly what my mortgage will be, $0.
For a while, usually yes. Long term, no chance.
A mortgage can only ever go down. Rents most of the time only go up.
My mortgage was initially over 3K while rent had been ~1.5K. But years later, those equivalent rents are ~5K and my mortgage is under $1K. In a couple decades when I'm retired, who know how high those rents will be? But I know exactly what my mortgage will be, $0.