GiddyGap@lemm.ee to News@lemmy.world · 7 days agoOwning a home has rarely been this much more expensive than rentingfinance.yahoo.comexternal-linkmessage-square165fedilinkarrow-up1374cross-posted to: housing_bubble_2@lemmy.world
arrow-up1374external-linkOwning a home has rarely been this much more expensive than rentingfinance.yahoo.comGiddyGap@lemm.ee to News@lemmy.world · 7 days agomessage-square165fedilinkcross-posted to: housing_bubble_2@lemmy.world
minus-squarebrianary@startrek.websitelinkfedilinkarrow-up14·6 days agoDo they mean “buying” instead of “owning”?
minus-squareTodd Bonzalez@lemm.eelinkfedilinkarrow-up2·6 days agoNo. Having mortgage dues doesn’t make one not a homeowner.
minus-squareArchRecord@lemm.eelinkfedilinkEnglisharrow-up6·5 days agoBut having a mortgage does put you on the path to becoming one. Have a mortgage you pay for long enough, and you’ll end up with ever decreasing payments, then no mortgage, and a house. Have rent you pay for long enough, and you’ll have ever increasing payments, and never own a cent of the property when you quit.
minus-squareLuca@lemmy.worldlinkfedilinkEnglisharrow-up1·5 days agoFor me, my apartments was proprietary of the bank till i managed to full repay the loan.
minus-squareTodd Bonzalez@lemm.eelinkfedilinkarrow-up1·5 days agoThat’s not really how loans or equity works, but okay.
Do they mean “buying” instead of “owning”?
No. Having mortgage dues doesn’t make one not a homeowner.
But having a mortgage does put you on the path to becoming one.
Have a mortgage you pay for long enough, and you’ll end up with ever decreasing payments, then no mortgage, and a house.
Have rent you pay for long enough, and you’ll have ever increasing payments, and never own a cent of the property when you quit.
For me, my apartments was proprietary of the bank till i managed to full repay the loan.
That’s not really how loans or equity works, but okay.