Re:Mortgages are a manufactured product
by phamilton on Friday January 14, 2022 @02:57PM
(#29939515)
Even if I never move I can borrow against my house/asset. Sure, this can be abused. Don't blow it all on a vacation or a house remodel. But if an opportunity comes along to buy an income producing asset then debt is a wonderful tool. I'd rather have access to 100k of debt than not.
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Re:Mortgages are a manufactured product
by notch656a on Friday January 14, 2022 @03:17PM
(#29939793)
What if the cost of being in a position to access the 100k of debt is you have to pay 1k per year in additional property taxes, whether you use the debt or not. If property taxes aren't lowered to compensate for appreciated values, it starts to look bad for homeowners who live in their houses.