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WeWork founder remains a billionaire even with firm’s bankruptcy | The Straits Times
(www.straitstimes.com)
this post was submitted on 09 Nov 2023
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A Boring Dystopia
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So everyone needs to be able to spend the upfront capital to buy a home? What about people who want to rent? There are lots of advantages to not buying.
Loans exist. And reduce the upfront cost in paperwork to buying a house. It shouldn't cost nearly 5 figures just to get documents signed.
So instead of paying rent, you pay loan payments. And the bank can seize your property if you can't pay. Sounds like six of one and a half-dozen of the other.
You're still thinking within the current broken system. The only reason the bank can seize everything unfairly no matter how much had been repaid is because the laws allow it.
Even if you ignore foreclosure, mortgaging still is often more expensive than renting on average in the short term. Because part of what you're paying for in a mortgage is the fact that it has a finite length.