I need help understanding something

>400k house
>20%down
>30 year @ %5.00 loan
>$298,000. In interest.

What the fuck? The interest is the same as the fucking loan?
How is this bullshit normal?

This makes me want to buy a shack and call it good, fuck paying hundreds of thousands of dollars in interest.

Am I missing something? HOLY FUCK IM SO PISSED AND DONT UNDERSTAND HOW THIS IS ACCEPTABLE!!

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>he thought he could 'own' a house

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You know what the real mind fuck is? If you borrowed 320k and invested it for 30 years at 5% you’d earn 1.05m in 30 years.

The house is gonna be worth at least $1 million within 15 years. Sounds like a good deal to me. You're obviously a salty rentcuck larping as a homeowner

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>He thinks past performance guarantees future returns

320k / 30 is barely over 10k a year. That’s how much you “throw away” in interest, plus property tax and maintenance. This doesn’t include the fact you can deduct interest from your income during tax filing and that homes will almost always appreciate.

Fuck it, I should just buy this on .33acres and call it good.

Fuck mortgages.

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Yes, the retardation of boomers, and americans in general, is so staggering that having any semblance of a soul renders you completely unable to comprehend it.

This is what happens when jews run your country

Probably. A house like that with no perceivable foundation issues from looking at the ceiling CANT be terrible

Are issues with the ceiling indicative of foundation problems?

>What the fuck? The interest is the same as the fucking loan?
No it's not. Because in 30 years $300k won't buy you a loaf of bread.

>pay 800k for house that might or might not be 1mil in 15 years.

And when you let them set up an international banking cartel. Debt is the lifeblood of the Jewish parasite

you realize rent right now is $2000+ and your interest is only $1333

also home will appreciate and you can always sell it

It’s not acceptable at all. Pass down homes to your children, and if they try to pass laws to take the homes from them, kill them for trying to make your kids homeless.

You misunderstand. He pays a total of 1,717.83, and 1,333... of that is all interest. Not to mention maintenance costs for a $320k house that is probably 30+ yrs old and will definitely have major repairs that could cost thousands.

Additional costs for property insurance(some $120+), prop. tax ($250) and some random jewery

$1333 is still better than $2000 ($720k over 30 years). Additionally, rent will most likely increase with inflation, while the interest payments decrease in both nominal and real terms. He would easily save $500k in 2052 dollars.

Generally. As the house settles over time, cracks in walls and ceilings show up. It’s inevitable to some degree, but those non-popcorn ceilings look pretty legit

I would expect some shoddy plumbing repairs or maybe even a fuse box in a house of that age

kinda cozy, like modern day steppe nomads

look up to look down I always say

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You could have bought 10 apartments in Romania with the downpayment KEK