[Mortgage Is ‘Just A Fancy Bullsh*t Word For Paying Rent For 30 Years To The Bank,’ Says Real Estate Billionaire Grant Cardone — Here’s Why Renting Could Be A Better Financial Move
](https://finance.yahoo.com/news/mortgage-just-fancy-bullsh-t-171148202.html?guccounter=1)
It was a Lemmy comment. I don’t think you should expect a college course lecture on the subject.
Ultimately though, the comment stands. You’re either enabling somebody else to be more wealthy, or you’re enabling yourself to become more wealthy. The choice is yours.
I know you’re just stating an opinion, but that last sentence is downright insulting to me.
I can’t come up with a 10-20% down payment in this lifetime, if food, transportation, and energy prices remain this high relative to my income.
I don’t have time to look for a new job in a cheaper area to live. I am constantly trying to negotiate a higher income with my boss, who seems to be equally financially stressed.
My mental health is declining rapidly as I cope with economic pressures, and I need to be able to afford some sort of therapy as my health insurance doesn’t cover “elective” treatment. Otherwise I’ll hurt myself, or worse, someone else. My wife has multiple sclerosis and I need to stay working, for both of us. She works too.
Renting is not a choice for me, and I suspect millions of other Americans.
(I’m including above the whole statement and just bolding the part that you included when you did your reply.)
I meant no disrespect. I personally was a high school dropout from a broken home (and the emotional baggage that goes with that) but was still able to purchase a house, so I know it’s doable.
Having said that, I wasn’t judging you personally. I wasn’t even addressing you directly. I was just expressing a generic opinion about the pros and cons of purchasing versus renting to a wide audience. If that statement felt like an insult to you personally, then you need to look within.
I wish you well and happiness.