[Mortgage Is 'Just A Fancy Bullsh*t Word For Paying Rent For 30 Years To The Bank,' Says Real Estate Billionaire Grant Cardone — Here's Why Renting Could Be A Better Financial Move

](https://finance.yahoo.com/news/mortgage-just-fancy-bullsh-t-171148202.html?guccounter=1)

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[–] 17 points 2 years ago (10 children)

You’re forgetting that elder care will eat up that wealth.

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  • [–] 13 points 2 years ago* (2 children)

    Which is the problem we have: For way too many people an asset capable of depreciation is their main or even only retirement savings. So reducing the price of housing will be a problem for a lot of local and state taxpayers.

    Not saying it's right, just saying how it is.

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  • [–] 3 points 2 years ago (1 child)

    Wait - can you explain this further?

    Why depreciating asset?

    Also, they probably aren't selling it right? Just using as a rent-free option after paying mortgage to lower cost of living?

    What am I missing?

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  • [–] 7 points 2 years ago (5 children)

    What pays for the elder care without that wealth?

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  • [–] 15 points 2 years ago (3 children)
  • [–] 2 points 2 years ago (2 children)

    The state subsidizes their nursing home. That article is false at least in my state.

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  • [–] 3 points 2 years ago

    They do that here in Australia too (probably better than the USA) but there are way more people seeking placement in aged care homes than there are beds available. Waiting times are in the years and so people end up on the street. Especially with the way rent and cost of living is these days. Government pension doesn't pay enough to rent anywhere.

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