The bank owns the asset, the county owns the land and property, you the pleb own the debt, maintenance, and obligations. But hey at least you can say you own the property on paper through a deed that gives you the right to pretend you own the property (terms and conditions apply)
Glue eater moment. Owning a home is expensive sure, but it's better than pissing money down the drain aka renting.
True enough. The money you spend on a mortgage is partially compensated in equity, which is the value part of your payment minus the interest you pay. If you keep up payments on the mortgage, you can later sell it and accrue some of the value that you paid into it. When you rent, you have nothing to show for it when you want to move.
Lost_In_The_Thinking 0 points 1 month ago
True enough. The money you spend on a mortgage is partially compensated in equity, which is the value part of your payment minus the interest you pay. If you keep up payments on the mortgage, you can later sell it and accrue some of the value that you paid into it. When you rent, you have nothing to show for it when you want to move.