That does not include the escalating cost of homeowners insurance, required for any mortgage, along with basic utilities to survive. Having an incentivizing tax code, lending industry, limited financial education, etc., and viola, the cost of home ownership is waaayyyyyu beyond most folks. I’ve always had to rent a room or do a garage granny unit since day 1. It works, but isn’t ideal and not everybody wants to be a landlord. Or should be. Or should have to be. I hope someone will invent a better store of value than my home for long-term savings.
⚡️🇺🇸 WATCH - This testimony is going to blow your mind
“Me and my wife went and did the pre approval process for a mortgage loan yesterday and what the f*ck are you talking about”
“We're looking at the numbers, looking at our income, looking at our credit, and they have us at $450,000 — They have our mortgage after PMI, after insurance, after taxes; at $4,636 a month. What the f*ck are you talking about”
“For the average American, this is way f*cking far out of reach”
Interest terms in this country are out of control and should be federally illegal
A $450,000 home now costs $1,668,960 after interest and fees on a 30 year mortgage in America
Total cost: Principal ($427,500) + Interest ($897,840) + Taxes/Insurance/PMI ($343,620) = $1,668,960
You just paid $1,668,960 for a $450,000 home…
This is how much it costs to buy a home in one of the most affordable states in America, Texas — Wall Street Apes.
https://blossom.primal.net/6ef0de3966dd88a08423d15954f67c46012ec38accb99e5b6646e7920585cf93.mp4
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