Re:Inflation rises to 7% in December (led by energy)
by teeray on Wednesday January 12, 2022 @04:49PM
(#29913184)
Even if you bring a wheelbarrow of C-notes to the closing to pay for your house, you still never own a house the way you own a ham sandwich. If you fail to pay your property taxes, the government can kick you out and auction your house to repay itself.
Re:Inflation rises to 7% in December (led by energy)
by ur-whale on Thursday January 13, 2022 @02:20AM
(#29917780)
> If you fail to pay your property taxes, the government can kick you out
Yes, agreed. You are merely renting land from the govt.
That is not the case everywhere, btw, IIRC.
Ireland (I believe, to be verified) and China don't have things like property taxes.
Re:Inflation rises to 7% in December (led by energy)
by UncleOxidant on Wednesday January 12, 2022 @04:54PM
(#29913233)
At least the vast majority of those mortgages are fixed rate so that the monthly payment doesn't vary. Renting means your monthly payments can continually rise - those with mortgages are shielded from that.
For some definition of "own".
Most do have some amount of equity in their home and have a big fat mortgage to repay.
I am sorry, but that's not exactly "ownership" in my book.
As to your second point (inflation up => cost of mortgage down), only true if wages go up, which, unless I am mistaken ...