Actually, if you had paid attention, either a chair and a chair or a table and a table. Like comparisons are always more accurate although they typically aren't financed unless they're made of gold, silver, platinum, or ivory or copper for that matter. And they don't have to be assets to be valuable. Right?
I don't think Fries understood his point. So you know what that means.
Actually he did. He simply compared the relative economic benefits of home ownership vs rental.
You’re losing the plot here. Speak English. “Like comparisons...aren’t financed...” What?
Over the last 20 years you have given a bank 860k. More than you borrowed. That doesnʻt include your 20% downpayment or the home insurace, property tax, hoa, mello roos, etc. that you pay to other than the bank. They, doesnʻt matter which bank, immediately lent out your down payment and monthly payments for the last 20 years because your dollars were more valuable 20 years ago then they are today. The lender easily makes more than you over 20 years. But youʻre happy with what you make and that is all that matters.
Okay. But Iʻm not the one comparing chairs to tables. Just sayin’
Wrong again, sailor. The bank didn’t get my down payment, did you not know that? They loaned 80% of the money for the purchase and the seller received 100%. Am I really having to explain this to you? You think the bank received the down payment to loan out???!!! And you can’t answer the question of whether the bank (which still owns my mortgage, by the way) or I currently have a more valuable asset to sell? Losing the plot, economical jenious.
So you gave the 20% to other than the bank? I'm sure the bank was happy to have you pay PMI if that's the case. Or did espola negotiate a better deal amongst numerous options for you. Or maybe spigot boy gave you the Fed Funds rate after espola annualized an already annualized rate? The bank has been lending out your money for the last 20 years. Their asset has been consistently more valuable for 20 years thanks to your monthly interest payments.
Now I’m hearing the twilight zone theme. The buyer got 100% of the purchase price. You lost the plot about 4 posts ago, I’m afraid.
His asset.
Don't be afraid. Just keep paying off your mortgage so the bank can lend your money out again and again and again.............
It’s so weird when you borrow money to buy shit and when you pay it back the lender uses your loan payments to invest in things. You’re a deep thinker, man. And here I thought you were dumb.
That's not deep thinking. It's the lending business.
It’s any business. You make money from your business and you re-invest it. Dude, really? This is getting weird AF.
But not all business's amortize their reinvestments. Dude Really?
Yeah I repeat this has now entered the idiot zone. Businesses amortize all equipment purchases, for example. Poor thing. Caught in your own web of knowing nothing. You sound fancy, though, with all your big words and math and stuff. But the CD of your brain is really scratched up!
