Housing Bubble 2: Return of the Ugly

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A community for discussing and documenting the second great housing bubble.

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SeattleRain

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A mother of three says her family can't secure a $1,600 home loan, yet they must manage a $2,100 rent. (www.reddit.com)

submitted 5 months ago by SeattleRain to c/housing_bubble_2

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[–] Buddahriffic 1 points 5 months ago

It's even more obscene when you realize that part of that 1600 you are paying yourself. The interest is the only bit you lose, the rest is equity you own instead of the bank now. Equity that you can then use to get more money from the bank.

Whereas the rent is likely being used so that your landlord can pay themselves part of their mortgage and maybe keep some more on top of that.

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