this post was submitted on 09 Dec 2023
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[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)

(page 2) 50 comments
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[–] [email protected] 8 points 11 months ago* (last edited 11 months ago) (2 children)

Yeah, gonna call bullshit.

Bought this house 3 years ago, and my mortgage payment is half of what a comparable house would cost to rent. Mortgage payment includes property taxes and homeowners insurance. Plus I'll own it in 12 more years and can already use it as equity.

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[–] [email protected] 8 points 11 months ago (1 children)

People are aware that you don't have to live in a house for 30 years if you get a 30 year mortgage, right? That hasn't been a thing since the 80s.

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[–] [email protected] 8 points 11 months ago (4 children)

What's that, Madame Guillotine? You're hungry?

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[–] [email protected] 6 points 11 months ago (9 children)

"Debt incumbent home owners don't go on strike"

He's not exactly wrong. If you have a mortgage, you do not really "own" anything and essentially have a "landlord" through your lender.

You may not just be mad at renting/landlordism. Your ire may be for the generalized concept of private property.

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[–] [email protected] 6 points 11 months ago

Grant cardone is one of the slimiest cunts in the billionaire class, and that's a high bar

You can safely discount anything he says, because it is always self-serving

[–] [email protected] 5 points 11 months ago

It’s the Catalina wine mixer

[–] [email protected] 5 points 11 months ago (2 children)

He's right as far as mortgages go, which is one of the most abusive financial albatrosses a person can wear. Nobody tells people that they're going to actually pay 3 to 4 times the amount they bought the house for when they sign the papers.

But where does he even get the idea that rent is less than a mortgage at this point? That's sure not what it looks like to me.

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