Realistically, how stupid would it be for anyone to get a mortgage these days? Given how fucked up world events are and the reality that the American economy has been on life support behind the scenes for the past 10 years, who the fuck would try to get a house without paying cash for it in an economy where the norm is having a different job every 2 years? If the likely mortgage default doesn't kill you, the stress of very little job security will.
Mortgages Not Worth It Anymore
Elijah Phillips
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Colton Ortiz
Fool, I locked my rent in for the next 20 years, enjoy yours that will continue to rise
Nicholas Robinson
Just took out a mortgage and I have to say there’s definitely a sinking feeling like it’s going to bite me in the ass very fucking hard within the next 5-10 years. Hope I’m either very wrong or make it off crypto.
William Ward
there are tax advantages to a mortgage and interest rates are low enough to pretty easily beat with investing, plus you won't likely get much of a discount if any for cash in a good area right now. buying cash is actually pretty dumb in competitive single family markets. It's more applicable if you are buying at auction or in another setting where traditional financing is not allowed and so you get an advantage due to less competition, or if you know of someone who is looking to sell and you can make a private deal and get an unfairly low price by offering a pile of cash (recently divorced wives, old people, problems with the property, etc.)
Jack Campbell
In northern europe, mortgage rates have effectively been negative the past year, so there's that.
Luis Rogers
guys help a brainlet
if you want to buy say a 200k home and can afford to buy it outright, should you still go for a fixed mortgage? so overtime because of inflation your actually paying less and less?
Luis Bennett
If you could negotiate a 3 month euribor rate, and bank put up a margin of .5-1%, it's been quite cheap money:
euribor-rates.eu
Personally, I opted a little less than 2% rate fixed 10 year term (70%) and 30% 3 month rate - relatively expensive compared to going all in short term rate, but historically quite ok.
Cameron Gutierrez
Honestly fuck give these kikes a dime on interest. Mortgages need to burn along with everything other lending product in this debt based society.
Caleb Phillips
i carry a mortgage even though not needed. Although, houses here are so expensive, I don't want to tie up 1m in a house. inflation works in your favor assuming a good interest rate, and the mortgage interest deduction for income tax is valuable.
This assumes you can manage risk properly to avoid foreclosure and will do something else useful with the money.
Levi Stewart
it might depend on what else you're going to do with that money.
Like. If you put 50k down, w/ a 4.25% 150k mortgage. Then put the 150k in cash in investments that earn 6%, your money is better utilized in the investment and you should use the mortage. But, if you're going to do nothing with the money, it doesn't make sense to pay more for the house. Sure your $ is depreciating with inflation. but the interest rate is higher than that depreciation.