Comment on Why do some say they own or have bought something that they technically haven't (e.g. domain names, expensive things, etc.)?

<- View Parent
lovely_reader@lemmy.world ⁨5⁩ ⁨weeks⁩ ago

It does, sure. It helps to understand that the debt is separate from the property, same as if you borrowed $20 for lunch—it feels a lot different from your friend buying you lunch, but it doesn’t feel like your friend owns your lunch until you repay them, either.

With real estate especially, once the property begins to require your attention and money, you begin to feel that ownership more acutely. The bank has no idea when the gutters need to be cleared or there’s a drainage issue. They’re concerned only with the loan.

source
Sort:hotnewtop