After reading the article it's clear that the root cause is our government causing rapid price increases, shortage of housing stock by importing niggers, and hedge funds buying up the stock.
The article notes that people think renting is the answer. Wrong! The landlord simply passes his high costs to the renter. You're still paying the taxes as part of your rent.
Your other costs like water/sewer and electricity are still present. You may not be paying homeowners insurance, but your landlord is and your monthly rent is amortizing that in.
The government likes this because you are now going to be dependent on them and will move to a 15 minute/C40 city soon.
Also these people are using high interest credit cards to finance repairs? That's very poor money management. You can't sustain that.
If you're feeling "trapped", that's a feature. It's due to criminal politicians stealing your wealth and devaluing your currency and causing shortages.
Another factor: people no longer work on their own houses. Older people I get. Young people, buy some tools!
I just had to fix my hose spigot and washing machine cold water valve due to freezing and bursting. It isn't hard.
We saw housing prices going to stupid while rent was going up crazy amounts year over year. (this was at least a decade ago) We bought a house because we knew it would be cheaper than renting even with all of the other costs associated.
That house is worth so much more than what we paid for it now and to rent it would probably cost 3x what the mortgage is at least. It was tough to qualify and get enough for a down payment even with how much we worked and busted ass but it has paid off so much over time that I wish we had been able to buy an investment property or two. It is what it is though.
Current policy is fucking everyone. If you were "lucky" or could plan ahead and had some $$ then you didn't get fucked as much (probably).
With approximately $100,000 of her mortgage still outstanding [...]
“We bought the house in 2008 for $190,000,” [...]
I will never borrow from a (((bank))).
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