“There’s this wild disconnect between what people are experiencing and what economists are experiencing,” says Nikki Cimino, a recruiter in Denver.
“There’s this wild disconnect between what people are experiencing and what economists are experiencing,” says Nikki Cimino, a recruiter in Denver.
To be fair, they don’t actually own their house if they’re paying a mortgage.
It wouldn’t be any different if she was renting.
I’m not sure why they call her a homeowner when the bank actually owns her house.
They get to treat the property as if they own it from day one. Additions, changes…etc. lots of differences from renting.
In theory, over time you own more and more of a share of the house while the bank owns less and less. That’s different from renting.
Still, if you literally can’t afford the mortgage payments then it’s still a bad deal.
The bank does not own her house. She owns her house. The bank holds a lien on it. Holding a lien on something is not the same as owning it.