this post was submitted on 11 May 2026
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me_irl
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But it also doesn’t include the tax deduction on the interest, and the fact that the principal is essentially a saving account you are paying into yourself every month, which will come back to you when you sell the house.
It’s really fucked up how they prevent people from home ownership. And they even try to sell this through the mainstream media as making it sound like sometimes renting is a better option. In some super rare cases it is a better option. But mostly it is not.
Anyone thinking they'll making a dent on the principle for the fist five years is going to be very disappointed. Selling get five years, closing costs are likely to put you in the red.
Renting is better only if you're not committed to the area. But if you end up renting the same place for 10 years, you're definitely losing out.
There's no single solution here and playing the media on this one sounds childish. Read better media.
Five years in and 1/7 of my principal is already paid off. That's a nice dent.
Yeah it's kinda depressing how owning a home is the only financially responsible option, all other things being equal