this post was submitted on 29 Aug 2023
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A Boring Dystopia

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[–] [email protected] 8 points 1 year ago (2 children)

Don't forget the tightening of lending rules going on. Even if you have the down payment, most will not qualify for the mortgage unless they have some one co-sign (bank thinks you can't pay $1000 mortgage, so you have to pay $2000 rent).

[–] BertramDitore 2 points 1 year ago (1 children)

Good point. I’d never get approved for a mortgage on my own, so I’ll be stuck paying rent that’s more than any normal mortgage payment. It’s so clearly rigged against me and people like me.

[–] [email protected] 3 points 1 year ago

The funny thing is if you incorporate your company can get a mortgage as long as you can show income though rent (you can list yourself as one of the renters for some reason). The rates are crap, but you can get one.

This seems to encourage more landlords over general ownership.