• PhlubbaDubba@lemm.ee
    111·
    7 months ago

    How exactly? A mortgage is in practice rent to the bank, complete with them getting to evict you if you turn out to not be able to pay, not to mention that the landlord at least hypothetically is responsible for providing repairs and appliance replacements.

    • SaltySalamander@kbin.social
      2·
      7 months ago

      How? Because in about 1.5years, I will own outright the house that I’m “renting” by paying off my mortgage. When’s the last time you can say that about some spot you were renting?

      Also, my “rent” is about 5x less than any renter in the area is paying for a similar house.

    • Scirocco@lemm.ee
      21·
      7 months ago

      I live in a 5br 3ba house on 5 wooded acres inside a national park.

      My mortgage is about halfway done, the house is currently worth about 60% more than I paid for the house and the total rent (ahem, excuse me) MORTGAGE PAYMENT, including escrow for insurance and taxes is $1790 a month.

      I live 22 miles from the Washington Monument as the crow flies.

      And you think I’d be as well renting an apartment?

      This house rents for more than double what my mortgage costs, and at least a third of that payment is expenses that will always exist (taxes/insurance)

      Utliies range from $77 to $220ish per month.

      This is a whole lot of privilege.