Moving

[Skip Towne]

Originally Posted by Moooo

I understand equity... I also understand that on an average 30-year note, 60-some percent of your average payment is paid to interest. Given that, with all the sales taxes, real estate fees and application fees at a bank, you don't start into the equity building to a point that's worth your while until about 5 years in.

If you don't believe me, buy a house, pay the taxes, loan processing fees, real estate agency fees (if you go that route, like most do). Then sell it in a year accounting for inflation, and tell me where you stand.

Moooo

Obviously you're right. Nobody should own a home. But how do the landlords make a living? Please explain that, genious.