…after paying $160,000 to landlords over 10 years. Makes you wonder, doesn’t it?
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You don't qualify because you haven't saved up the money, to give to the bank, which they use to create the money they then lend you.
Deposit is 10-15% - fractional reserve lending is at 12X holdings.
When you take up a mortgage - the bank literally puts up nothing, gives you nothing, and the extra 2X of your deposit that doesn't contribute to your debt is used to provide unsecured loans at high interest.
It's one big party, and you're not invited
I used to think so myself, however I recent years I been experiencing first hand what the adulting shit really is.
It is just accountability man, it isnt predatory at all, you have to take steps is all....99% of the people bitching about rent have done everything they were told...everything!
They never went to make a single life changing decision for their own life, it was graduate school,go to college, assume life crippling debt, major in some bullshit that you have no idea what the projected salary will be.
On and on....life don't work like that at all, you know this?
You have to make the game up as you go along with morality and hate to say....grind. lots of grind and sweat, most importantly....lots of failure till something works.
So what you paid 160k in rent through your life? Sounds like that was a personal choice that you could have mitigated the cost by being in a trailer house or saving it for a caravan and nice vehicle to pull it?
Too many of these Twitter types want to think there is something owed to them. Well it isnt and the world hates you, no one cares, no one ever will.
Use what you got to get what you want