▲ 329 ▼ WeWork founder remains a billionaire even with firm’s bankruptcy | The Straits Times (www.straitstimes.com) submitted 2 years ago by fne8w2ah@lemmy.world to c/aboringdystopia@lemmy.world 48 comments fedilink hide all child comments
[–] Neato@kbin.social 6 points 2 years ago (1 child) Loans exist. And reduce the upfront cost in paperwork to buying a house. It shouldn't cost nearly 5 figures just to get documents signed. permalink fedilink source parent hideshow 2 child comments replies: [–] bionicjoey@lemmy.ca -3 points 2 years ago (3 children) So instead of paying rent, you pay loan payments. And the bank can seize your property if you can't pay. Sounds like six of one and a half-dozen of the other. permalink fedilink source parent hideshow 6 child comments replies: [–] halowpeano@lemmy.world 5 points 2 years ago (1 child) You're still thinking within the current broken system. The only reason the bank can seize everything unfairly no matter how much had been repaid is because the laws allow it. permalink fedilink source parent hideshow 2 child comments replies: [–] bionicjoey@lemmy.ca 0 points 2 years ago* (last edited 2 years ago) Even if you ignore foreclosure, mortgaging still is often more expensive than renting on average in the short term. Because part of what you're paying for in a mortgage is the fact that it has a finite length. permalink fedilink source parent [–] Neato@kbin.social 2 points 2 years ago Mortgage payments build equity and when you move you can sell the property and recoup nearly all of that. Rent is gone. Foreclosure is a huge issue that needs to be addressed in legislation. All that equity should still exist for the homeowner even if they stop being able to afford payments. permalink fedilink source parent [–] Blackout@kbin.social 2 points 2 years ago* (1 child) Rent keeps going up, my mortgage is the same regardless of that and I purchased based on what I could afford at that time. permalink fedilink source parent hideshow 2 child comments replies: [–] aesthelete@lemmy.world 1 point 2 years ago My mortgage is gone because I paid it off. Which is an option, but not for renters who have to pay forever (and in many cases, increasing rates) just to keep hold of the same 1000 SQ ft place. permalink fedilink source parent
[–] bionicjoey@lemmy.ca -3 points 2 years ago (3 children) So instead of paying rent, you pay loan payments. And the bank can seize your property if you can't pay. Sounds like six of one and a half-dozen of the other. permalink fedilink source parent hideshow 6 child comments replies: [–] halowpeano@lemmy.world 5 points 2 years ago (1 child) You're still thinking within the current broken system. The only reason the bank can seize everything unfairly no matter how much had been repaid is because the laws allow it. permalink fedilink source parent hideshow 2 child comments replies: [–] bionicjoey@lemmy.ca 0 points 2 years ago* (last edited 2 years ago) Even if you ignore foreclosure, mortgaging still is often more expensive than renting on average in the short term. Because part of what you're paying for in a mortgage is the fact that it has a finite length. permalink fedilink source parent [–] Neato@kbin.social 2 points 2 years ago Mortgage payments build equity and when you move you can sell the property and recoup nearly all of that. Rent is gone. Foreclosure is a huge issue that needs to be addressed in legislation. All that equity should still exist for the homeowner even if they stop being able to afford payments. permalink fedilink source parent [–] Blackout@kbin.social 2 points 2 years ago* (1 child) Rent keeps going up, my mortgage is the same regardless of that and I purchased based on what I could afford at that time. permalink fedilink source parent hideshow 2 child comments replies: [–] aesthelete@lemmy.world 1 point 2 years ago My mortgage is gone because I paid it off. Which is an option, but not for renters who have to pay forever (and in many cases, increasing rates) just to keep hold of the same 1000 SQ ft place. permalink fedilink source parent
[–] halowpeano@lemmy.world 5 points 2 years ago (1 child) You're still thinking within the current broken system. The only reason the bank can seize everything unfairly no matter how much had been repaid is because the laws allow it. permalink fedilink source parent hideshow 2 child comments replies: [–] bionicjoey@lemmy.ca 0 points 2 years ago* (last edited 2 years ago) Even if you ignore foreclosure, mortgaging still is often more expensive than renting on average in the short term. Because part of what you're paying for in a mortgage is the fact that it has a finite length. permalink fedilink source parent
[–] bionicjoey@lemmy.ca 0 points 2 years ago* (last edited 2 years ago) Even if you ignore foreclosure, mortgaging still is often more expensive than renting on average in the short term. Because part of what you're paying for in a mortgage is the fact that it has a finite length. permalink fedilink source parent
[–] Neato@kbin.social 2 points 2 years ago Mortgage payments build equity and when you move you can sell the property and recoup nearly all of that. Rent is gone. Foreclosure is a huge issue that needs to be addressed in legislation. All that equity should still exist for the homeowner even if they stop being able to afford payments. permalink fedilink source parent
[–] Blackout@kbin.social 2 points 2 years ago* (1 child) Rent keeps going up, my mortgage is the same regardless of that and I purchased based on what I could afford at that time. permalink fedilink source parent hideshow 2 child comments replies: [–] aesthelete@lemmy.world 1 point 2 years ago My mortgage is gone because I paid it off. Which is an option, but not for renters who have to pay forever (and in many cases, increasing rates) just to keep hold of the same 1000 SQ ft place. permalink fedilink source parent
[–] aesthelete@lemmy.world 1 point 2 years ago My mortgage is gone because I paid it off. Which is an option, but not for renters who have to pay forever (and in many cases, increasing rates) just to keep hold of the same 1000 SQ ft place. permalink fedilink source parent