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REPORT COPYRIGHT VIOLATION IN REPLY
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Message Subject
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Why I, as a Milennial, will NEVER be buying a House
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Poster Handle
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Lily o' the Valley |
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Post Content
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It's pretty simple, really.
A mortgage is DEBT.
A mortgage is payment servitude to the banks for 15 or 30 years.
And since the housing market has been inflated, it's nearly impossible to purchase a nice home on just one salary.
By renting, I dont have to pay property taxes.
By renting, I dont have to pay HOA fees.
By renting, I dont owe shit to the banks. Renting doesn't require you to be in debt to mortgage lenders.
Buying a house is not worth it. You will pay off double in interest what you will the principle. Over the course of a 30 year fixed mortgage you could spent $500,000 for a $200,000 house.
So I will be renting, forever, and NEVER buying property. Boomers have fucked the housing market to no end. They are putting these houses that haven't been renovated in 40 years on the market for half a million dollars.
Im not playing this game.
Fuck the whole "you want to buy a house so you can own something " bullshit. I could care less about home ownership when renting is cheaper and doesnt require me to take out a mortgage loan to be enslaved to the bank.
Quoting: Anonymous Coward 74561869 A lot of young people are moving to tiny houses because of the cost of housing. They save up enough to pay for the tiny house and land and end up owning without the mortgage. Housing costs are nuts. Well over 1/2 million for the median cost of a house in Seattle. But I remember when there was a big billboard that said "Will the last person out of Seattle turn out the lights?" The economy tanked and people were finally just packing up and walking away from their homes. This happened more than once. I am assuming Seattle was not the only place this happened. You can't blame the boomer homeowner, they were not the ones to drive up the prices.
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