I need help understanding something.

[Anonymous No.51099577]

>400k house
>20%down
>30 year @ %5.00 loan
>$298,000. In interest.

What the fuck? The interest is the same as the fucking loan?
How is this bullshit normal?

This makes me want to buy a shack and call it good, fuck paying hundreds of thousands of dollars in interest.

Am I missing something? HOLY FUCK IM SO PISSED AND DONT UNDERSTAND HOW THIS IS ACCEPTABLE!!

[Anonymous No.51099715]

>>51099577
>he thought he could 'own' a house

[Anonymous No.51099732]

>>51099577
You know what the real mind fuck is? If you borrowed 320k and invested it for 30 years at 5% you’d earn 1.05m in 30 years.

[Anonymous No.51099772]

>>51099577
The house is gonna be worth at least $1 million within 15 years. Sounds like a good deal to me. You're obviously a salty rentcuck larping as a homeowner

[Anonymous No.51099799]

>>51099772
>He thinks past performance guarantees future returns

[Anonymous No.51099842]

>>51099577

320k / 30 is barely over 10k a year. That’s how much you “throw away” in interest, plus property tax and maintenance. This doesn’t include the fact you can deduct interest from your income during tax filing and that homes will almost always appreciate.

[Anonymous No.51099952]

>>51099842
>>51099772
>>51099732
>>51099715

Fuck it, I should just buy this on .33acres and call it good.

Fuck mortgages.

[Anonymous No.51100051]

>>51099577
Yes, the retardation of boomers, and americans in general, is so staggering that having any semblance of a soul renders you completely unable to comprehend it.

[Anonymous No.51100124]

>>51099577
This is what happens when jews run your country

[Anonymous No.51100205]

>>51099952
Probably. A house like that with no perceivable foundation issues from looking at the ceiling CANT be terrible

[Anonymous No.51100316]

>>51100205
Are issues with the ceiling indicative of foundation problems?

[Anonymous No.51103019]

>What the fuck? The interest is the same as the fucking loan?
No it's not. Because in 30 years $300k won't buy you a loaf of bread.

[Anonymous No.51103518]

>>51099772
>pay 800k for house that might or might not be 1mil in 15 years.

[Anonymous No.51103558]

>>51100124
And when you let them set up an international banking cartel. Debt is the lifeblood of the Jewish parasite

[Anonymous No.51103792]

>>51099577
you realize rent right now is $2000+ and your interest is only $1333

also home will appreciate and you can always sell it

[Anonymous No.51103823]

>>51099577
It’s not acceptable at all. Pass down homes to your children, and if they try to pass laws to take the homes from them, kill them for trying to make your kids homeless.

[Anonymous No.51103895]

>>51103792
You misunderstand. He pays a total of 1,717.83, and 1,333... of that is all interest. Not to mention maintenance costs for a $320k house that is probably 30+ yrs old and will definitely have major repairs that could cost thousands.

Additional costs for property insurance(some $120+), prop. tax ($250) and some random jewery

[Anonymous No.51104014]

>>51103895
$1333 is still better than $2000 ($720k over 30 years). Additionally, rent will most likely increase with inflation, while the interest payments decrease in both nominal and real terms. He would easily save $500k in 2052 dollars.

[Anonymous No.51104158]

>>51100316
Generally. As the house settles over time, cracks in walls and ceilings show up. It’s inevitable to some degree, but those non-popcorn ceilings look pretty legit

I would expect some shoddy plumbing repairs or maybe even a fuse box in a house of that age

[Anonymous No.51104160]

>>51099715
kinda cozy, like modern day steppe nomads

[Anonymous No.51104479]

>>51100316
look up to look down I always say

[Anonymous No.51104565]

You could have bought 10 apartments in Romania with the downpayment KEK

[Anonymous No.51105052]

>delusional poorfag rentoid cope thread #4976

[Anonymous No.51106214]

>>51099577
if you make something like 10% more payments each month on a 30 year it automatically makes it a 20 year
that's why i pay 25% more per month
cracking into princip is a wonderful feeling, knowing im kind of fucking the banks
>give loan for 300k
>expect something like 300k profits over 30 years
>actual profit is going to be like 100k
>home bought prior to the pandemic, zesty reads 500k
i can't stop winning

[Anonymous No.51107919]

>>51103518
>or pay the same amount renting over the same time period but have ZERO equity
You need to think long term, Schlomo

[Anonymous No.51108036]

>>51099952
It looks pretty comfy, but maybe bring a friend who knows a thing or two about homes or even your folks if you check it out with the realtor. They'll know questions to ask you'd never even think of.

[Anonymous No.51108067]

>>51103823
Kek, they don't even need that. Parents sell their homes to fund their retirements. They know what they're doing.

[Anonymous No.51108157]

>>51107919
the interest part of your mortgage is rent, you're not escaping the game

[Anonymous No.51108187]

You have to live somewhere. I'd rather own property and have to pay down a mortgage and pay for home maintenance than pay for someone else's with my rent check. Also as someone else mentioned, those expenses can be used to reduce your taxable income.

[Anonymous No.51108263]

Tax relief itself makes real estate worth it

[Anonymous No.51108275]

>>51108157
The interest part of my mortgage decreases over the life of the loan and the value increase of my house more than makes up for it. Rent on the other hand increases but you're not gaining anything. It makes more sense to equate my property tax and insurance to rent but I'm still coming out way ahead of renters.

[Anonymous No.51108307]

>>51099577
What are your expectations when you give someone money for 30 years?

[Anonymous No.51108340]

>>51099772
How do I short housing?

[Anonymous No.51108398]

>>51108275
Exactly. It's virtually impossible to not come out ahead when buying a house unless you have some sort of free or incredibly cheap lodging. If you are going to be paying rent anyways you might as well be building equity and writing off the interest and property taxes. Can you write off your rent?

The only argument you can legitimately make is if your mortgage payment is higher than an equivalent rent, you could take that money and invest it elsewhere to get a better return. Many people are paying higher rents than homeowners with equivalent mortgages, and for those who are not, 99% of them don't have that sort of investment and savings discipline.

[Anonymous No.51108404]

>>51108157
If anything the mortgage payment on the principal is rent. Interest sucks but is tax deductible, as is property tax. Rent (and principal payments) are not.

[Anonymous No.51108437]

>>51106214
Thats why some banks have penalties for extra payments

[Anonymous No.51108440]

>>51108340
Short banks and lending stocks. Buying Inverse ETFs and shorting REITs.

[Anonymous No.51108762]

>>51099577
oy vey goyim stop it with the antisemitism