This is all assuming the value of your home doesn’t change at all over time, which is an utterly retarded assumption.
The reality is if you bought at least 3 years ago, it’s likely the value of your home has doubled already, putting your equity equal to your debt, without even accounting for mortgage payments in the meantime.
Oh you might also be interested to know that less-than-5k figure is about equivalent to what I can save every year as a renter. Except that’s just my rainy day fund and it gets spent on extraneous costs and I hardly actually save anything at all.
So you’re sitting pretty over there, despite your whining.
The reality is if you bought at least 3 years ago, it’s likely the value of your home has doubled already, putting your equity equal to your debt, without even accounting for mortgage payments in the meantime.
And if I didn’t? Given the absolutely asinine bubble causing the cost of housing increase over the last three years, alongside the spike in interest rates, can you honestly say the value of a home will keep going up? Fwiw the estimated price of my place has dropped 20% since I bought it. I don’t think this bubble is sustainable. The cost of rent has risen absurdly with no real cause.
Oh you might also be interested to know that less-than-5k figure is about equivalent to what I can save every year as a renter. Except that’s just my rainy day fund and it gets spent on extraneous costs and I hardly actually save anything at all. So you’re sitting pretty over there, despite your whining.
Yeah that’s fair. As I said earlier, I hope you’re able to advance or switch your career to get to a better place. Many of my friends got jobs at the local uni to leverage the tuition assistance towards a practical degree to work towards a career change/advancement, and there’s also the trades if you’re able-bodied enough.
This is all assuming the value of your home doesn’t change at all over time, which is an utterly retarded assumption.
The reality is if you bought at least 3 years ago, it’s likely the value of your home has doubled already, putting your equity equal to your debt, without even accounting for mortgage payments in the meantime.
Oh you might also be interested to know that less-than-5k figure is about equivalent to what I can save every year as a renter. Except that’s just my rainy day fund and it gets spent on extraneous costs and I hardly actually save anything at all.
So you’re sitting pretty over there, despite your whining.
And if I didn’t? Given the absolutely asinine bubble causing the cost of housing increase over the last three years, alongside the spike in interest rates, can you honestly say the value of a home will keep going up? Fwiw the estimated price of my place has dropped 20% since I bought it. I don’t think this bubble is sustainable. The cost of rent has risen absurdly with no real cause.
Yeah that’s fair. As I said earlier, I hope you’re able to advance or switch your career to get to a better place. Many of my friends got jobs at the local uni to leverage the tuition assistance towards a practical degree to work towards a career change/advancement, and there’s also the trades if you’re able-bodied enough.
Then you still have a home which will almost certainly never be taken away from you.
And renters are still at the mercy of the landlord.
It’s nice to come full circle like this in a discussion, it really helps to hammer my point home.
If you’re going to ignore everything I said about being able to move within a decade for better job opportunities, sure.
I’m ignoring it because it was wrong.
I’m sorry if it’s not true for your situation.
I don’t think this is a constructive conversation, so I don’t see a point in continuing. Hope you have a good day!