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A comment on Majority of Hispanic Americans own a home. Parent comment
then you have property tax, insurance, maintenance, and a huge amount in interest.
My aunt is a landlord. And at the end of the day, her profit is around 20%.
which means you are only paying 20% less than a renter, however, you're completely locked in and can't go anywhere.
and even more unfortunate... even after your mortgage is paid off ....you'll still be paying: property tax, maintenance, insurance etc etc. forever
and none of that is getting any cheaper.
people lose their houses all the time because property taxes got away from them because rich people moved in and just took the neighborhood.
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then you have property tax, insurance, maintenance, and a huge amount in interest.
My aunt is a landlord. And at the end of the day, her profit is around 20%.
which means you are only paying 20% less than a renter, however, you're completely locked in and can't go anywhere.
and even more unfortunate... even after your mortgage is paid off ....you'll still be paying: property tax, maintenance, insurance etc etc. forever
and none of that is getting any cheaper.
people lose their houses all the time because property taxes got away from them because rich people moved in and just took the neighborhood.