Quote:
Originally Posted by GO FURTHER
The only reasons to own your own home outright versus renting (apart from having equity to borrow against and something to leave your kids).... Is one day;
1. You may be long term unemployed and cannot afford rent.
2. Unable to work through injury / health, and on a disability pension and cannot afford the rent.
3. The day you retire... You may only have the government pension to live on, and it won't be enough to cover both future high rent and expenses.
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Yeah, not to mention that the renters are all down the pub everyday, having a dozen pints, occasionally checking the keno board and inserting the dollar coins from the change from the smoke machine in the pokies, all while waiting for their drug dealer to show so they can have a couple of billys before bingo starts...
I think that's all the stereo types covered ....right
I love how all the examples given for the renter are extreme worst case scenarios, long term unemployment, sickness, disability like those things don't happen to people who have mortgages unpaid off because they've been accessing equity maaaaaate for the entire 30yrs of the initial loan, yet when you discuss the possible worst case scenarios of owning its, that only happens in **** holes in the middle of nowhere etc. etc. etc.
