seneca
@seneca
This broke my brain a bit. Chart shows a typical $500K mortgage at 8% fixed. You’re mostly paying interest for decades. Equity only kicks in the last 7–10 years. Total paid: ~$1.2M. Interest alone: ~$700K. I get its pros but levering up into an illiquid asset in a post-ZIRP world .. ?? Pls help me make sense why this is sold as the safe and very normal thing to do.
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kianga.eth
@fhomoney
Bankers are gangsters
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