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No wonder so many people are checking out of society and going off grid.

No wonder so many people are checking out of society and going off grid.

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[–] • 0 pt (edited )

I remember when I first looked at my rent costs and then looked at house prices and thinking "WOW, if I buy I can pay off my house in 5 years!!!"

Then I learned that they fuck you with all the interest at the very beginning of the mortgage to keep you from paying off the equity early. That you start off paying mostly interest and barely any principal and have to scrape along for 15 years before you get some momentum on the equity. It's all designed to keep people who don't start off with money from acquiring enough to get ahead and compete with the banks who print it all.

[–] • 1 pt

The Trick: Any money you pay over the monthly payment goes directly to the principle.

[–] • 1 pt

Yeah and if you don't know how to fix/maintain shit yourself, add paying people to do it for you to the expenses.

[–] [deleted] • 0 pt

Don't forget PMI! If you don't put down 20%, then you have to pay 'insurance' until you've paid 20% of the principal. It's an after-effect of the 2008 financial crisis.