Quote:
Originally Posted by blankall
Ahhh...So now the wise move is for people to spend their youth saving, and then dump all of their savings into property with a 5% down payment and historically low interest rates....nothing could go wrong there.....
What a disaster...someone with a networth of $40k should in no way be borrowing $760k. It's a crime that's allowed to happen. At best you become a slave to that mortgage that will follow you for the next 30 years....
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I think I'm finally getting where you're going.
I'm in my house that will finally be my retirement home, and I paid $470k two years ago.
What 25 year old is going to buy an $800k house? You're feeding into the stereotype.