seneca
@seneca
This broke my brain a bit. Chart shows a typical $500K mortgage at 8% fixed. Youβre mostly paying interest for decades. Equity only kicks in the last 7β10 years. Total paid: ~$1.2M. Interest alone: ~$700K. I get its pros but levering up into an illiquid asset in a post-ZIRP world .. ?? Pls help me make sense why this is sold as the safe and very normal thing to do.
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BrightFutureGuy π©β
@bfg
why it is sold 1/ as safe = because you can't runaway with it π 2/ normal = a lot of people make a lot of money on you doing that
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