@KALIfromCali@MelSchwitz24677@MapleStax@augiedog34 Most people who buy houses in today’s economic are too broke to buy. They just think they’re making a good decision buying because they’re investing money but they’re only lining pockets of banks.
@MelSchwitz24677@MapleStax@augiedog34 No you don’t have that 100,000 because you used it up on maintenance fees, property taxes, repairs, bills, and INTEREST that you’ll never get back. You just have the illusion of profit you made. While the bank made money off you.
@MelSchwitz24677@MapleStax@augiedog34 Equity doesn’t mean jack shit when war or pandemic happens and your property isn’t worth shit. Then you struggle to sell it for a profit and have to rot in the middle of bumfuck Texas because nobody wanted to buy your worthless house made of wood.
@MelSchwitz24677@MapleStax@augiedog34 What does that have to do? The value could drop tomorrow when nobody wants to buy a house in that neighborhood. Then you have to sell it for less
@dylannilsson@MapleStax@augiedog34 Who says it’s guaranteed to increase, genius? It’s a gamble. So many condos in downtowns everywhere have depreciated.
@MelSchwitz24677@MapleStax@augiedog34 Not when the value goes down, then you lose a couple hundred thousand. And you endlessly lose a hundred thousand in maintenance fees, property taxes, and utilities. Genius.