return2ozma@lemmy.world to Lemmy Shitpost@lemmy.world · 1 day agoBoomers scolding us about how they were able to buy a house working at a gas station...lemmy.worldimagemessage-square86fedilinkarrow-up1509arrow-down113file-text
arrow-up1496arrow-down1imageBoomers scolding us about how they were able to buy a house working at a gas station...lemmy.worldreturn2ozma@lemmy.world to Lemmy Shitpost@lemmy.world · 1 day agomessage-square86fedilinkfile-text
minus-squarebstix@feddit.dklinkfedilinkarrow-up3arrow-down2·11 hours agoIt’s because your landlord never paid for it. The bank did. You’re paying the interest on his loan.
minus-squaredogdeanafternoon@lemmy.calinkfedilinkarrow-up1·4 hours agoI don’t think you know how loans work.
minus-squareBCsven@lemmy.calinkfedilinkarrow-up3arrow-down1·11 hours agoThey mean if they sold it now they’d have 50 years of rent now, instead of waiting 50 years to accumulate that amount. All that money now is worth more then getting it later.
minus-squareModern_medicine_isnt@lemmy.worldlinkfedilinkarrow-up2·9 hours agoDon’t forget taxes. All they have to do is “move in” for a year or so to get a massive tax savings on the sale.
minus-squarebstix@feddit.dklinkfedilinkarrow-up1arrow-down2·8 hours agoI know what they meant. Renting out properties is not about making tenants pay the same amount as the property is worth over any period of time. It’s about having someone else cover the cost of borrowing the money while the property increases in value by itself until they decide to cash in.
It’s because your landlord never paid for it. The bank did. You’re paying the interest on his loan.
I don’t think you know how loans work.
They mean if they sold it now they’d have 50 years of rent now, instead of waiting 50 years to accumulate that amount. All that money now is worth more then getting it later.
Don’t forget taxes. All they have to do is “move in” for a year or so to get a massive tax savings on the sale.
I know what they meant.
Renting out properties is not about making tenants pay the same amount as the property is worth over any period of time.
It’s about having someone else cover the cost of borrowing the money while the property increases in value by itself until they decide to cash in.