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Joined 1 year ago
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Cake day: June 21st, 2023

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  • Do you have many friends that rent?

    Don’t try and turn this into a ridiculous class war statement on me. Am I a homeowner? Yes. I’ve literally only been a homeowner for 13 months. Before that, I rented for over 26 years. Most of my friends still rent.

    And yes, there are people who choose to rent - some choose the motility, some choose to invest over mortgage and some choose to remain renters for the reasons stated in the start of this very comment thread. Don’t pretend otherwise.

    You’re still acting like loan debt repayments and a rental payment are the same thing. They are not. I don’t care how many times you go to the “if you stop paying you lose your home” well, that’s the barest, most facile comparison imaginable.


    • repaying a loan is not ‘rent-like behaviour’, applying a brush that broad would paint any regular payment as ‘rent-like behaviour’, which is preposterous.

    • ‘Economic rent’ is a meaningless phrase, especially in this context. Rent is a concept of lease without ownership. We are literally talking about owning property. There is no rent. There is debt and burden, sure, but there is no rent.

    • Equity is not a lie. It’s the very simple concept of a property’s worth after deduction of amounts owing. Now the nuances and application has gotten insanely out of control in miltiple countries (I’m Australian, ask me about our multigenerational housing inequities!) But the basic idea of inflation increasing cost/value is generally sound.

    A rental property and a ppr are nowhere near each other, not financially, socially or emotionally. They cannot be equated, no matter how much you torture the syntax. Each has their place for personal preference, but they are not the same



  • What is incorrect are claims the bank owns the house.

    The bank does not. A mortgage is a debt on the property, or if you like, a debt with the house as collateral. While this gives the bank certain rights while the mortgage is still extant (if sold they will be repaid, etc, if the debt is not paid the house is taken In recompense), they do. Not. Own. The. House. They have zero ownership. The house belongs to those on the title.

    I really hate the ‘banks owns the house’ mentality, it’s not true and this weird transferral of power to ‘another landlord’ is putting the collar around your own neck and ceding power for no reason