Americans Are Giving Up From INSANE Mortgage Payments

@Punches Home ownership is still the way to go. Particularly if you can own whole estates and rent them out..😷

@whowasthatmaskedman That SOUNDS good but what about all the tenants who will destroy the place, stay until they are evicted without ever repaying back rent, etc?

People think having rental properties means sitting back and watching the dollars roll in, NOT typically that easy.

Yeah people can screen prospective tenants BUT, what happens when the people screened VS who actually lives there are different? Like the guy who just got out of prison and his latest fiancé need a place to stay?

@Punches Agreed. Thats what insurance is for.. But more importantly, its hard to vandalize a block of land. Even if you burn down the house.. Heres how this works. (Forgive the figures. I am pulling them out of a hat just to make a point... You buy a house and land for $500K. You put down $200K in cash and get a loan for $300K. The tenant moves in and gradually pays off the loan for you. You claim the interest on the loan and the cost or upkeep and insurance as a deduction and in 15 years you own the house the tenant paid more than half of..And you may have picked up some healthy deductions of the way to apply to other business..😷

@whowasthatmaskedman I have never been in the rental business but I do not imagine it is easy.

I wasn't trying to sound smart aleck or anything but yeah I do believe that finding good tenants would be hard. I mean the ones that have their act together would eventually want to get a better situation than renting, and the ones who do not have their act together are just going to bring problems.

@Punches I wasnt implying anything. Just explaining how the rich get richer at the expense of the rest of us. Especially when times are tough. They take advantage and have no conscience about it. TACOs father gave a master class in it to his son..😷

@whowasthatmaskedman Things can get only so expensive though. At some point if no one can even afford it, well...

@Punches OK. Now thats where you are incorrect. The basic flaw in modern thiunking is that money is real.. It isnt. Money is a convenient means of exchange, so we dont have to carry around eggs, bags of wheat and cans of whatever to swap with each other. In itself money is worthless. Then we dont agree on exactly how much we should exchange for an hours work or a tank of gasoline, thats inflation. But if the same number of hours work always buys you that tank of gasoline, everything is fine in reality.. I cant blame you if you cant get your head around this idea.. Its what modern society is based on. But nevertheless, what I am saying is correct. And the people in Wall street who first saw the gold standard being abandoned and decided money was a commodity that could be created did America a great disservice.😷