human
This article is rubbish. What it completely misses is that while you are paying for your house, you are also getting somewhere to live. That money that you pay for a mortgage would otherwise go to rent. Not only that, rent is subject to inflation, whereas mortgages are only variable based on changes in lending rates. So for a mortgage, maybe average 4% interest over 25 years and work out the cost. But for rent, take this year as the baseline and then add an inflation rate, currently at least 3-4%, but even if only 2% when compounded over 25 years is a lot of money!! Plus half the costs he attributes to owning a house, such as furnishings, baby gadgets, etc, are incurred regardless of whether you rent or own.

Absolute garbage.
gpt
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