• @[email protected]
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    fedilink
    164 months ago

    I’m currently a millionaire because at the time, it was cheaper to buy then it is to rent. There was a first-time homebuyer bonus also and we only needed 3.5% down. We figured if we just broke even when we wanted to move, it would have been worth it. This was back in 2009. Then, waited 10 years and I can’t afford that condo that I bought with my income today.

    • @AA5B
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      164 months ago

      I’m in a weird situation where:

      • my house is double the value
      • my equity has tripled or quadrupled
      • yet my mortgage is bigger than the original purchase
      • and the payment is half, as a percentage of my monthly income.
        • @AA5B
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          44 months ago

          2.3% fixed. I refinanced just before rates went up a few years ago

          • @[email protected]
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            fedilink
            44 months ago

            Man, crazy deal. It’s pretty much free money. It’s below inflation. Gotta keep that until you pay it off.