/biz/ - Business & Finance

>>52491701

Depends on your borrowing rate

At like 7% like it is now, its better to pay it off
At like 1-2% its free money

>>52491701
It depends on what your buying, how much it is, what you are using it for and the rate of interest

>>52491717
This
If the house is appreciating faster than your interest rate and inflation
>don't pay it off
If the house is not appreciating faster than your interest rate and inflation
>pay it off
If you are going through a divorce
>burn it down

>>52491701
it is better to be given a house for free. i don't understand why more people aren't doing this. why would you pay for something when you can not pay for something?

>>52491701
Depends on the interest rate. If it's below inflation it's basically free money and there's no reason to pay it off.

>>52491701
aren't everybodys parents rich?

You missed the free money in 2020-2021 so I'd suggest not buying at all right now.

You can't win if you're over paying for an over valued house with a high interest rate. It only made sense for normies because they were getting sub 2% rates. Lots of people buying now are just going to be losing equity year over year

>>52492204
My dad's richer than yours and he works at Nintendo.

>>52491770
>If you are going through a divorce
damage everything that isnt structural. it's not fraud or anything if drywall is missing pieces or if wiring has been ripped out.

>>52492245
yeah but my dad could kick your dads ass so nice try to u and ur dweeb dad

>>52491701
depends on different facotrs, as alreayd mentioed here by others, but alos, is there any "benefit" rather than using cas, things like "opportunity cost" of not using that cash for lucrative investments (if there are any available to you)
tax benefits of a mortgage?
benefits of establishing or just maintaining long term stable credit history resulting in a long term stable high credit score ?

>>52491770
>>52491791
good advice but honestly, if you have the cash, buy it out right. fuck the rates. fuck the banks. it's yours.

>>52491701

>>52491717
What about 4%?

>>52494201
that's the second half of the idea that a lot may miss.

>>52492204
My parents are dead and I'm only 20

Been waiting for a good reason to use this meme
>>52491701
most of these Reponses below me are Jews
>>52491717
Jew
>>52491764
Jew
>>52491791
Sneaky Jew
>>52492221
Based
>>52493083
Sneaky Jew
>>52494201
Based Goyim

>>52491701
Cash. Everyone else telling you to take out a mortgage is a jew trying to siphon more money.

>>52491701
Irregardless of interest rates, the psychological benefits of not having to pay a mortgage every month and having 1-2k freed up seems more worthwhile than taking out a mortgage.

>>52495625
BRO
did you just use "irregardless" in 2022?!
broooooooooooooooooooooooooooooooooooooooooooooooo
youre some kind of third worlder then, right
>irregardless
hahahahahahaha

>>52494201
ngmi

>>52491791
Why do people say this?
It isn't like wages keep up with inflation anyways.
Yes the money is being inflated but you aren't benefitting from it.

>>52495719
You see the 'ir' is the same as the 'less'
so it's a double negative.

Now how 'bout "unironically"?

It's so vapid.

>>52494330
>renting better if you buy an overpriced house with some of the worst mortgage rates in history
even still, you get to live in a home and not some cuck pod
home owners insurance isn't 300 per month
S&P gains are not 10.2% per year, it's 6-8% and some of those gains are dividends which are taxed even if reinvested.
it was a good effort but i'm not convinced

>>52491701
Cash.

Unless you have a very high risk tolerance and you are extremely skilled with finance - even then it is absurd to prefer debt to non-debt.

>>52491717
>>52491770
>>52491791
>>52493083

You guys are aware of risk to having debt... right?

>>52491777
kek'ed and checked.

>>52495625
>the psychological benefits of not having to pay a mortgage every month and having 1-2k freed up seems more worthwhile than taking out a mortgage.
Based.

>>52496228
>be me
>house refi at 1.99%, 2.5% if you count the fees
>15 year mortgage
>current 20 year treasury yields 4%
>after tax ~3%
>le debt bad and so complicated

>>52494330
to add further, the rent changing from 1800 to 2500 has to have much more impact than 500k less. that means there's significantly less going into the s&p.