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Reply to "Why do people buy houses on the basis of 2 salaries instead of 1?"
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[quote=Anonymous][quote=Anonymous]Why do people finance houses is the bigger question. A person spends 2 TIMES the amount of the house just on interest on a 30 year mortgage. HUGE SCAM. Predatory banks. [/quote] Well, in our case, the money we have invested in the market rather than using it to buy our house in cash has been increasing in value at well more than twice our mortgage rate, so even after you account for all the interest we'll pay over the life of the loan, we'll come out ahead. [/quote]
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