Topic: How is a house a good investment when you are spending nearly double the cost on mortgage interest?
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?


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its to keep your fat wife happy :what:


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Summon God to explain it.


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it is a good investment if you get the house before prices and interest rates rise again and also before your rent goes up.


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Two things:

1.) A house is not an "investment."  It is a place where you live, enjoy life, and do whatever the fuck you want without a landlord telling you that you can't paint the walls or do whatever you want with the yard.  Anyone who calls a house an "investment" is an idiot, unless they have real investment properties that they are flipping or leasing out to renters.

2.) You pay down a mortgage.  You can pay it off by the time you are 50, and life is good after that for the rest of your life.  Or, you carry a modest mortgage of $400 a month, keeping your $80,000 in the bank in case shit hits the fan, or in case a better REAL INVESTMENT opportunity comes along.


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The alternative is renting, in which you are paying 100% on something that will leave you with zero dollars in assets.


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This fred did not go the way OP intended


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Now would be the worst time to buy a house.  Prices are sky high & the Fed is raising interest rates.  Wait until the Feds stop raising rates & start lowering rates.  At that point, housing prices will have declined by a major amount. 

1% change in mortgage rates = 10% change in housing prices (up or down ).



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