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60 sats \ 9 replies \ @Undisciplined 28 Dec 2024 \ parent \ on: Is the Treasury Market ok? econ
Loan duration used to be lower, but has been 30 as long as I remember. There's talk of 50 year mortgages, because they're so expensive at 30.
We're trying to workout how to make a 15 year mortgage work, if we move.
In Indian cities, people working there usually buy flats instead of homes, they at the least, from my knowledge, cost around $25000. The repayment EMI costs around $250/month for 20 years.
Nit a big deal, right?
Houses also don't cost much more than this if bought in a very nearby suburb.
Where I live is a town at least 100 kms from a big metropolitan and I bought a piece of land (42×55 sq yard) in approax $25k 6 years ago. Currently its valued 4 times more because of the spread of residences around it.
For such reasons, I still believe that buying property in India is/can be an alternative to Bitcoin.
There's no house tax or insurance required for property in India is a big plus.
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50 year mortgage is great. You will pay much more in the long term but if you take the difference in the monthly payment and invest it elsewhere (bitcoin) you will probably do very well.
I say go all or nothing. Have the longest mortgage possible or none.
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I can't imagine being able to sell my wife on a 50 year mortgage.
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When rates dropped to <3% during the pandemic, we jumped on the opportunity to refinance. We even extended the loan duration to another 30 years, and I would have gone 50 if I could. Feels like the smartest financial decision I ever made, looking back
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We just happened to be moving then, so it had nothing to do with our financial savvy, and it also feels like the smartest financial move we ever made.
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Smarter than buying Bitcoin?
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In a way, yes. We have to live somewhere, which means this drove our long term cost of living down dramatically. The result is being able to afford more bitcoin.
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Ok I accept it.
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Yeah probably not.
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