thinking a lot about how housing can't go down because it was sold to three generations as a way to make up for the fact that the US does not pay for any sort of reasonable retirement
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I live on the northeast coast of the US.
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https://cohost.org/NireBryce/post/4929459-here-s-my-five-minut
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in reply to @NireBryce's post:
and in the end its the banks that win because they gave you your mortgage and they're gonna give the next schmuck their mortgage too lol
"take this bet that your house line will go up faster than the interest line" i guess
yeah. I mean equity is still arguably better than rent, as long as the seller was honest and nothing was wrong with your house. /s
right but what i mean is they often break even -- house maintenance covered by rent ends up a huge expense if you own the house instead, especially if the seller lied about how many problems it has (they all do)
everyone is being played for fools
i just realized it also means landlords are likely to be older as they dump savings into "passive income", causing them to be even more detached from the cost of living because they remember numbers further back in inflation
like working your way through university as a waiter at a single restaurant
our landlord doesnt even pay interest on our building anymore and ive seen exactly how much they spend on maintenance :squinty_eyes: it aint much
yeah, but at least in Massachusetts we had leverage to get them to fix a lot of things, the tenant protections were just well hidden. For things like heating and plumbing and leaks.
whereas if you own a place especially without modern modular walls, a lot of those things are 10k+ USD expenses along with the cost of simply maintaining the house. depending on the area you can absolutely pay less in rent for the whole thing than it would take to own a similarly sized building or condo
it's part of the "middle class treadmill" trap, without careful research you can end up getting more and more pay without actually having more comfort or buying power
(because among other things, housing is so over valued so sellers also want to hide information that could drive it down, if they're underwater/breaking even, so naive buyers or flippers often get houses needing hella overhaul they didn't budget for
not that they have a choice)
yeah i mean like i make an amount of money now that confuses me with how big the number is but the main problem in my life it solves is that i can get food delivery to cope with my fatigue problems. other than that all my other problems are the same as before because they all boil down to "navigating bureaucracy when you are very tired" and theres not actually anywhere i could spend more to make it better