To pay off a $415,000 house, over 30 years, at 6.7% interest, you will end up paying over $950,000. To get that money, you need to earn about $1,465,000 (assuming you’re paying 35% income tax). This is not happenstance, it is by design by banks and government to keep you on a perpetual treadmill of debt.
To pay off a $415,000 house, over 30 years, at 6.7% interest, you will end up paying over $950,000. To get that money, you need to earn about $1,465,000 (assuming you’re paying 35% income tax). This is not happenstance, it is by design by banks and government to keep you on a perpetual treadmill of debt.
I'm more concerned about rent. I'm many years away from being able to buy a house. I can barely afford rent as it is.
Damn!
Americans already gave up. Houses and property ownership is out of reach. They can now be slaves to the bankers and own nothing.
Want to own a piece of the pie? Go to a country that isnt sending all its resources to foreign lands and giving asylum to criminal cartels.
Boy, that says it all.