• @[email protected]
    link
    fedilink
    110 days ago

    Based on that definition you never stop paying. Homes values constantly go up. My dad bought a house in the 1970s. 33k.

    Today the house has a value of 300k. Took him 30 years to pay off the original mortgage.

    • 🍉 Albert 🍉
      link
      fedilink
      410 days ago

      part of the reason house prices are always on the up, is because they agree considered an investment not a basic necessity. so there’s no interest in building more.

      a house shouldn’t cost more than construction cost.