Cyph3rp9nk22d agoOne of the reasons for the rise in housing prices around the world, aside from inflation, is mortgages.
Everyone competes for the same houses; whoever manages to pay more money gets it.
When the bank gave you a 10-year mortgage you could pay X for the house; when the bank started giving 20-year mortgages, house prices doubled to 2X; now they’re already offering 50-year mortgages.
Stop playing that perverse game of debt, accept defeat. Don’t try to buy something you can’t; move to where you can buy it without going into debt.
The same applies to vehicles, and any crap you take out a loan for—do like my grandparents: if you have the money, buy it; if you don’t have the money, don’t buy it.
It’s better to drive an old car than a borrowed one.
💬 8 replies
Replies (8)
Daedalus22d agoLol there's nowhere to go where you can buy without debt at least in the US. If you want to have children in your 20s and don't have an inheritance or familial help, it's literally mathematically impossible to get even half of the average housing price in cash.
The counterargument then would be "don't have kids until you're mid 30s and both husband and wife work full time careers til that point" yeah definitely then you could save enough cash to get the average house without debt, but then you can't have children.
Quite the pickle we're in here.
000
