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/biz/ - Business & Finance

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19559929 No.19559929 [Reply] [Original]

How is it possible my parents haven't paid off their house yet? They have been home owners in multiple houses the past 20 years and have brought in over $250k minimum every single year. Now this newest house cost $750,000..They just sold two other properties last year.

I found their mortgage loan on the driveway in the rain and it says they're paying over $4k a month on the mortgage on a 30 year plan...They would end up paying over $1.2 million..
How is it possible these pricks are paying so much for this place? Should their equity be rolling from house to house?

>> No.19559945

>>19559929
they bought into a pajeet scam, like nkn, hex etc.

>> No.19560023
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19560023

>>19559929
>not buying your house with erc20 scamcoins

>> No.19560586

>>19559929
the jews really did a number on your parents. yikes

>> No.19560637

>>19559929
if the interest rate on your mortgage is low enough, you save money by paying the minimum. because when your money just sits, you make capital gains. if you pay your mortgage off all at once, that's $750,000 you wont make capital gains on.
depending on your mortgage and depending on the markets, its sometimes cheaper to pay in installments

>> No.19560677

>>19559929
Because your parents are normal people who are uneducated (purposefully) about finances. They make a lot of money not because of any skill they have, but because they are old.

>> No.19560727
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19560727

>>19560637
Here's a diagram to show what I mean
6% interest is actually extremely conservative. im assuming your parents have an extremely safe boomer portfolio thats 40% bonds

>> No.19560977

>>19559929
buying shit they don't need to show off to other people

>> No.19561004

Boomer logic