Comment on Boomers scolding us about how they were able to buy a house working at a gas station...
BCsven@lemmy.ca 1 day agoThey mean if they sold it now they’d have 50 years of rent now, instead of waiting 50 years to accumulate that amount. All that money now is worth more then getting it later.
I know what they meant.
Renting out properties is not about making tenants pay the same amount as the property is worth over any period of time.
It’s about having someone else cover the cost of borrowing the money while the property increases in value by itself until they decide to cash in.
Modern_medicine_isnt@lemmy.world 1 day ago
Don’t forget taxes. All they have to do is “move in” for a year or so to get a massive tax savings on the sale.