Absolutely! I only just bought my first house, which means I have a bit of a higher mortgage, but a house is simply a tool for survival.
this post was submitted on 29 Sep 2023
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I'm not planning on moving so it doesn't really matter what my house is worth. It was relatively cheap to begin with; 105k€. My monthly payment for the mortage is 520€ while the rent my friends are paying is usually 700€/month or more. That would cover my water and electricity bill aswell and I'd still have money left over.
Your house isn't increasing in value, the buying power of your currency is falling.
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I'm not selling in the foreseeable futher, so i care little.
Home owner, I started buying back in 2007. Been through one crash, and if another crash makes it so I can move again, fuck it. Let the whole thing just burn.
I never counted on equity, and the system was fucked from the start. At least this way I wouldn't feel trapped.
I play around with mortgage calculators every so often and look at houses in my area. One of them at current rates would have someone paying well over $10k per month at 20% down, not including utilities, food, water, gas, etc. (it is a 1.4 million home). My wife and I were speculating on the type of person who could even afford that, if you follow the rule of don't spend more than 50% of your monthly on rent.
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I dont want to pay more in property taxes.
Meh fuck it. Everything else depreciates so I don’t see why a house should be any different.
I am ready, my capital willing and able.
(I will be doing my best to make the housing available to who needs it, fuck profit for profits sake)