I rent my property because it’s the only way I could’ve bought it at my age and I use that money to pay for the mortgage of it while I live somewhere I don’t want to (under parent’s wing in a crappy city) but angry people rarely if ever consider all scenarios
How did you come to this conclusion? If someone is renting it means they they can’t pay for mortgage. Otherwise they would’ve done so. He said, that he needed to make a 20% payment to even get the mortgage. Idk how much money that was for him, but where I live that would be around 130k$. Clearly not everyone has that kind of cash.
And what’s your solution? Disallow renting properties for which mortgage wasn’t posted in full?
I rent my property because it’s the only way I could’ve bought it at my age and I use that money to pay for the mortgage of it while I live somewhere I don’t want to (under parent’s wing in a crappy city) but angry people rarely if ever consider all scenarios
So you’re keeping home ownership away from someone who can afford to pay your mortgage is what you’re really saying.
How did you come to this conclusion? If someone is renting it means they they can’t pay for mortgage. Otherwise they would’ve done so. He said, that he needed to make a 20% payment to even get the mortgage. Idk how much money that was for him, but where I live that would be around 130k$. Clearly not everyone has that kind of cash.
And what’s your solution? Disallow renting properties for which mortgage wasn’t posted in full?
If you buy it, live in it. Stop contributing to the housing crisis. Greed got us here, it certainly won’t get us out.