Thoughts on getting a 50 year mortgage?
Hilariously retarded
No thoughts, only dreams.
>>6206202350 year mortgages only work with low interest rates (like 1-2%). higher rates stop you from building equity because your payments mostly go toward the interest, so it's basically renting but you're liable for all maintenance.
>>62062023Lol.
>>62062023I voted for this
your future
>>62062023I will not buy the boomer plywood box and enslave myself to the banks (further than life already does).
i got a 15 yr at 2.75% I cannot fucking fathom a 50 year unless it is at 0.5% interest.
>>62062267You’re poor.
30 year mortgages are bad enough, imagine being a slave for 50 years. Thats generational debt.
>>62062079you still build equity through capital appreciation and the debt is eroded with inflation.
>>62062023I'm still literally too poor for it in this market. $50k/year is inescapable poverty now.
>>62062023Gei it at 40 or 50 yo and you won't have to pay it fully
>>62063381Skill issue.
>>62062023it only makes sense if you plan to stay there for decadesin that case you can take what you would otherwise be paying and invest which will snowball faster than paying into a house you never intend to sell anyway and also inflation will erode the mortgageif you intend to sell within 20 years then it's a terrible idea
Thoughts on houses sitting on the market for an average 90 days?
>>62062079Yeah don't worry about the interest. Just be sure to pay me back when I am dead.
>>62063416I'd argue it's the opposite. It requires less investment now. But over time you're getting raped hard by the interest. It's better for speculative dealing, thinking your house might appreciate enough to flip and move on in 5 years. It gives you leverage, the right to the place, but at a high premium, kind of like options if you think about it.In another case, if you were only moving to an area for like 2-5 years for work, but didn't want to be stuck with rental options, it'd be a good choice. It's kind of like partial renterhood but with more rights/options. Frankly the 30 yr isn't far off that either.
>>62063549at first i thought that but then i remembered that if you pay off your mortgage early, which you do when you sell, you still have to pay some or even all of the interest>But over time you're getting raped hard by the interest.inflation and hopefully asset appreciation makes this largely irrelevantwhat matters is how much you pay monthly ie how much you're forced to investif this wasn't the case then buying was probably a mistake anyway
BOM
>All these posts seriously considering itIs the average American really this cucked?
>>62062079She looked so much better in the first movie, man.
>>62062023If rates are low it's a great deal. Rates aren't low though
>>62062023an excellent way to provide long-term support to israel.
>>62063453Doesn’t mean much. Either over leveraged owners or rarely people that really need to move. When home prices drop across the board now, it means everyone is getting poorer. It means the masses are facing joblessness and etc. This is why most people don’t get to buy “homes for cheap” during recessions.
>>62062023the only thing that matters is keeping your costs down, 50yr is always going to be superior to a 30yr because there are always better investments for your money than investing into your property. So the only thing to consider is 50yr vs renting.
>>62064128She peaked in Memento
>>62062023Just get a 15yr mortgage and pay it off early.
>p-please get a loan>to buy out the pension funds that have to sell assets to meet the obligations of paying Boomer Joe ponzi liquidity on a monthly basenah I pass, maybe going to buy some when the pension funds get liquidated or boomer joe died in his box and his children or the bank throw it on the market for 90% discount
That's a lotta years pal
