Comment on i need an rv, and lab equipment, and a helper

• Tartas1995@discuss.tchncs.de ⁨1⁩ ⁨month⁩ ago

  I want to help you understand the situation and why people say what they say. Then you can better judge the situation for yourself and make your own decisions.

  Situation “your own house”: You want to buy a house but you don’t have the money because… Wtf is the housing market??? 100k for a cardboard box??? So you lent money from your bank to pay for the house. With interest, you pay maybe e.g. 70% more than what you lent. And it takes you 30 years to do so. You might lose your job and have to save a little extra to cover those times and maybe the bank let’s you miss a payment once. After 30 years, you have now a house that needs some repairs but you got more money in your wallet because you are done paying the bank. So you do some repairs and it cost you money, maybe you need a small loan again. Eventually, you are retired and you have less money but you don’t have to repair your house anymore. Sure, there are some issues but the heater will manage another 10 years. You don’t have to worry too much because you don’t have to maintain it after your death. You don’t need to save for a new roof in 5 years when you are 95yo. You can make the call that you don’t care.

  So in other words, you pay a little less than 70% more than the value of the house and afterwards you paid for YOUR UTILITY. Every repair was between you and future you.

  Situation “I rent to you”: I am buying the house and of course, I am lent the money as it is financially easier and in some places, gives me tax cuts. I buy a house and I too pay 70% interest on it. I need to get the money to pay for my loan. I am not a asshole but also not a saint. So what is pretty fair? Mhm… You, as my renter, pay my loan back! If i ask less, I am literally losing money. But wait, you might move out at any time and I need to pay my loan, so I am asking a little extra… Just in case. But then there are repairs and someone needs to pay for those, so maybe a little extra. Okay now, you are paying for everything! I am safe and sound. After 30 years, you paid back my loan and I own the place. I am getting old and I let my son take care of the business. He takes good care of the house and makes sure that all the repairs are done. He is earning so extra money too as well the loan is paid back. He is looking for a new house for all his children and a big nice garden. With his day job and your rent, his bank gives him a big amount of money that he spends on a beautiful house, he gets the house as he has the cash. You are getting older and you retire, but your rent is not going down. If you could have bought the house 50 years ago, it would have been yours, but it isn’t and you are paying the new loan of my son. The heater could use a replacement in the next 10 years but you really don’t have the money for that but it isn’t your decision, my son wants to rent out the house another 50years if possible. My son feels forced to look for a new renter as you don’t have the money to pay for the new loan and the repairs. He kicks you out. You are homeless. You pay off the loan and some of another loan but you are homeless.

  Now that story wasn’t even about actively trying to make money but not wanting to take a risk for someone else.

  Most landlords want to make some money.

  source