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[–]HeyImSancho 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (5 children)

I honestly don't 'get it'. Of course a home takes years to pay off; they cost year's of wages/salary. I would say the image is inaccurate, and think it takes way longer for the average person to pay off their home; as there is just so much other stuff to consume along the way.

Here's a fact for anyone 'winning' by paying rent, you're still the one paying the taxes, levies, fees, and mortgage of where you stay! And on that note, the last 12 years we've 'owned', and at the time of sale, got back all of our payments made; meaning we lived for free. If you get really creative, often times, you can wrap the down payment into the original loan; walking in cheaper than getting an apartment with 1st, last, and security deposit...

[–]magnora7[S] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

and think it takes way longer for the average person to pay off their home; as there is just so much other stuff to consume along the way.

It does take longer. This map assumes that the person spends 100% of their income to pay for a place to live, going by the average house price in that area and average wage in that area. Basically it's a map of the wage to house cost ratio in various locations.

[–]Jesus 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Mortgage means debt bondage for life. Private property is becoming less and less common for the middle class. The elites hoard assets and property, whilst the proce continues to climb, and the purchasing power of the shit dollar continues to decrease.

[–]Jesus 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (2 children)

We really actually don't own any property. If one truly owned property, it could not possibly be subject to property taxes or eminent domain. If you don’t have ALLODIAL TITLE, you don’t own a damn thing and must pay rent (property taxes) to a superior landlord (Govt).

[–]HeyImSancho 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (0 children)

I'm familiar with the concept. But, we all gotta sit, sleep, eat, and shit somewhere. Someone who by today's definitions is actually 'renting', is still paying for the taxes, levies, fees, and insurance for that building.

While owning, even when owed to the bank, and the real 'owners', you can scratch out more money=energy for yourself to retain, than many today who complacently 'rent', and then have the corn hole notion that by doing so, they avoid paying like a 'faux' homeowner.

Does that make sense?

I can put it clearly, in the last 12 years, we've owned(government rental, right?) 3 homes. The first one was a FSBO, and owner carry. We walked from that home in 3 years with all our rent paid, plus $15k.

Our second home, was another FSBO, owner carry. We owned that one for roughly 5 years, walked away with rent paid back, and $20k.

The one we have now, is in the same ball park. When we bought this one, we wrapped all closing costs, and down back into the financing. Meaning no money out of pocket at move in. Our 'rent', and 'rent to government' is around $870 per month. Our lot is extra large, and we have the option to put in another home.

The closest ghetto apartment to here, starts at $1,000 per month, and no yard, and plenty of foreign neighbors, and section 8 folks.

Make no mistake we're all slaves, but the NPC's will never give a crap, they'll never care more than the designer shit they wear being cool, and has financing for it.

I choose to live out my days of slave hood, learning, making myself better, and working outside of the box; which I've got to say, my partner, and I do well, and legally.

We're good compliant porch monkeys.

EDIT TO ADD: I would like to note, if a large market correction happened tomorrow, those apartment dwellers will still be responsible for the $1000 monthly; they'll still have last, and security deposit up for grabs. Owning a 'home', and for clarity paying rent to the govt, still comes out better, as you don't have last, and security on the table. You can, and will lose any equity, but shit, monthly payment wise, is still better than an apartment.

I can run a generator, put wood in my woodstove, you can't do that stuck under someone else's 'owned roof'.