Once again everyone knows that is debt. Of course it is debt. Once again if you don’t understand that taking out a loan = debt you don’t understand basic finance.

It just so happens to be the lowest interest form of debt you can take and even when added with an existing mortgage payment ia still insanely cheaper than comparable rents for the same property.

My statement is “yes homes have maintenance and that can come at unexpected costs. However you can access low interest debt if you need to. And even if you do you’ll still pay less than renting a comparable property for the same amount of time”

Please consider the whole and dont just take snippets out of context. Homes come with costs, still way cheaper than renting. You don’t have to take out a loan for home maintenance. You can, but you don’t have to.

One final note, debt doesn’t necessarily have to be bad. You should never take on debt you cannot afford but if utilized wisely you can maintain cash reserves for emergencies and build your credit. Credit scores are made up bullshit, but it’s a system that we’re trapped in. With a better credit score you can get much better terms on certain things that we need to survive. It’s better to take on a manageable debt that at least gives you some benefit than to dump your money into some landlords profit margin.

I never said it was free and I never said it wasn’t a debt. Like obviously it is a debt, anyone that reads “tapping into home equity” as meaning free money doesn’t understand basic finance.

It doesn’t have to extend your mortgage. You can take it out as a second line of credit as an additional loan to pay back monthly. Obviously the ideal would be to have the savings to cover necessary home repairs, but if you don’t this is typically the cheapest way to get a loan to do necessary maintenance.

Sounds like your sister used her equity to refinance her loan and recieved a payout for the difference. That’s going to restart your mortgage and is probably not the best way to go about accessing home equity.

So yeah don’t take on reckless debt you can’t payback. You can responsibly use your home equity for maintenance if you need to though.

I personally grew up quite impoverished and me and my wife did manage to get our home in medium COL area. We don’t have exceptionally high paying jobs nor did we have any help from our families. We just made a lot of effort to build our credit. We’re also not old at all under 30 to not dox myself too much.

A lot of people simply have some wrong assumptions about the amount needed to get a loan. We put down 3%, sure we didn’t get the most competitive rate and our payment is higher, but it worked out to the cost of our then comparable rent. There’s quite a few federal programs that ensure the opportunity for a low downpayment mortgage for first time homeowners.

But that was just slightly before interest rates went insane, kinda on the way up

I always find this to be such a poor argument.

Yes unexpected maintenance can sometimes be a huge problem, especially in the first couple of years, but after that you can tap into home equity and repair say a roof. Everything else while expensive is still cheaper than renting. Using the OP’s example 1k vs 500, I can assure you you will never have consistent 500 repairs per month.

As for the taxes my city nearly went ballistic when the city increase the rate by 5%. At the end of the year it costed me $200. Per month that’s about $16. I’ve never lived in any apartment anywhere where rent didn’t increase by at least $50 per month each year. Even if someone had a home twice as valuable that’s still a very small monthly cost.

Additional once you get past the first 3ish years rent prices have greatly outpaced your mortgage and you will be saving a lot of money compared to of you were renting.

I’d like to wrap up with a question. If owning a home was such a sink of resources why do people become landlords?

I worked at a pet store back in college and this old lady would sometimes come in and load 2 carts top to bottom with temptations. She said it was the only “food” her cat would eat. I tried to tell her it wasn’t food, but no luck.

I wonder if her situation started in a similar way to your story.

At least for school assignments this is easily fixed by just opening it yourself in the school library and adjusting format. It’s usually pretty minor.

Honestly most of my professors accepted papers saved as pdfs which was helpful too

Nope, 65% of what I make now is barely subsistence. It would be nice for a few months, but quickly become boring

Nope didn’t say that at all, nice try though. You can be authoritarian and not bomb other countries and you can be authoritarian and bomb other countries.

Foreign affairs dont necessarily effect that determination.

The US I’d say is authoritarian and imperialist.

A country like Saudia Arabia or North Korea is just Authoritarian and tend to at least only meddle with boarding nations.

That’s cool and all but still irrelevant to the original point. You can be authoritarian to your own citizens domestically without invading other nations.

The US is both imperialist and authoritarian.

Look up the definition of authoritarianism. Bombing other countries is not the defining feature of an authoritarian government.

Yes it is, the “reality” for 100 years ago was a lie.

Literally 100 years ago was the build up to the great depression. The side was “workers should be able to eat” versus “the workers shouldn’t have rights”

Fast forward 40 years and it was “it’s okay to sit next to black people” vs. “Races should not mix and any attempt to do so should be met with extreme violence”

O*io 🤢

If it makes you feel better this would be an unliveable hell hole without AC. The American south is no joke.

Basically there’s 3 to 4 months every year where if you’re outside for more than 5 minutes you’re drenched in sweat.

I just turn the air down 2 degrees

Best I can do is record profits and the eventual extinction of humanity

Depends on the subfield. Archaeology is in high demand due to historic preservation laws.

But yeah capping out is annoying, but also common in a lot of fields.

There’s a lot of jobs in the private and public sector for people with anthropology degrees. In the US, anthropology is taught as a four field approach encompassing Biological Anthropology, Cultural Anthropology, Linguistic Anthropology, and Archaeology.

Each of the subfields have different levels of hireability based on a bachelor’s degree.

I personally only have a bachelor’s and live well. I have a home and live comfortably. But, to your point, I have essentially capped out my earnings. I can’t make more without obtaining a graduate degree.

This explains why people gave me a hard time for getting an anthropology degree…

If you’re going to take an “exit plan” there are a lotnof revolutionary ways to go about it

My city owns all our utilities. Works the same, arguably more reliable