⚡️🇺🇸 WATCH - An American buys a $784,000 home with a $5,700 monthly mortgage.
After 4 years and $285,000 paid, only $50k hits the principal.
$230,000 is PURE interest.
Over 30 years she’ll pay $1.6M for a $784k house. This isn’t “homeownership” — it’s usury.
https://blossom.primal.net/756574e99f0794ec4f056ebdbe316ffbec2106757064eac7be59b4e70a9c73f7.mp4
Discussion
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Hahaha!! Banks are using girl math!!!
Please watch this......its not just America either. Recall the 1st statement showing that the mortgage balance reduced by only $22 for the month.
Could not even afford to buy the house now because housing inflation has far outpaced income even with interest rates being much lower.
Capital gains end up being someone else's mortgage, and then there is this horrible incident in which the courts ruled that there was no wrong-doing.
I bet the house is no more comfortable than my little shack. All that is mine is paid for.