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64 sats \ 8 replies \ @OT 23 Jul \ on: Borrow $60,000 and Pay Back $255,931 charts_and_numbers
Who takes on a 14% PA loan over 30 years?
Another thing to consider is how much your salary will be in 10/20 years. If fiat starts to hyperinflate, $300k might buy you steak or a case of beer.
Who takes on a 14% PA loan over 30 years?
This is a scenario from the 80s in the US. has been an extreme case, at some stage interest were at 18%, but that's not the point, it does not it matter. Nor does inflation or CPI. It's the concept behind that make the difference in the long term, not how much you can gain from it. But yeah, one can continue to strategize and try to play with the system to get something out.
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That's why at some stage, many lenders started imposing early repayment fees to protect their interest income. I think it still happening!
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Wrong, housing is expensive, but access to shelter is a fundamental human right (many are deprived of) for many reasons.
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No, housing is not a right. Healthcare is not a right. Food isn’t a right. You have a right to property….thats it. The right to acquire and keep property…be that your own body or the fruits of your labor. Anything else is Marxist poison.
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When I say it's a right, I mean it's a right to have, to own, to use...
Healthcare, it's everyone personal responsibility, not business or any other entity... or for sale for someone else benefits
Nor, I'll be expecting healthcare and housing from someone else that isn't myself.
BTW: when signing this kind of contracts:
- are you sure are bilateral contracts and not unilateral agreement?
- are you sure the signer is owner of the property? or is he just buying the right to use it (and maintain it)?
- do people get the certificate of title when loan payments are fulfilled?
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