this post was submitted on 15 Feb 2024
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Microblog Memes

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The numbers will determine your fate (lemmy.world)
submitted 10 months ago by [email protected] to c/[email protected]
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[โ€“] [email protected] 2 points 10 months ago (1 children)

What is your proposed alternative system? All of this is just an interest rate applied to an outstanding balance. Many less people would own a house without such an option.

[โ€“] [email protected] 2 points 9 months ago

Yeah my parents are vehemently against borrowing money except for a mortgage. Otherwise, how will you save several hundred thousand dollars or more to buy a house in full? Most people can't do that, even over decades.