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  • 15 Comments
Joined 1 year ago
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Cake day: June 11th, 2023

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  • Redscare867@lemmy.mltoMemes@lemmy.ml*Permanently Deleted*
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    1 year ago

    Even if it’s not, houses appreciate 5% a year on average. Assuming average appreciation over 10 years that house is now worth ~163% of its original value. That means that the mortgage was taken out for ~61% of what a comparable house would go for today which assuming the same interest rate would be a fairly significant reduction in the monthly payment. You also have the potential to refinance to further reduce that monthly payment.

    Or you could sell it and get that 10 years of equity + appreciation out in cash and that might be enough for a sizable down payment elsewhere.

    TL;DR unless your parent’s place is a dump in a low demand area it’s an asset even if it isn’t paid off.




  • I know how pitiful our rail networks are. I take Amtrak regularly. It’s faster to drive. It shouldn’t be, but it is. Obviously I’m not talking about today, but building improved rail infrastructure over the next decade is very realistic and a worthwhile investment. Unfortunately the investment Amtrak has gotten isn’t enough to modernize our rail network, and a lot of that money is being used to improve privately owned rail lines that Amtrak leases for their passenger service.

    My point was that the US doesn’t have distances that are insurmountable that can only be traveled via plane. It’s an investment issue.


  • Redscare867@lemmy.mltoMemes@lemmy.mlPlane goes brrrr
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    1 year ago

    A lot of those flights could be replaced with high speed rail. Maybe not New York to LA, but a lot of people live in the cities in the northeast and travel between those cities would be very feasible at reasonable travel times with high speed rail.







  • Whenever I was attempting to house shop in my city I couldn’t find anything that was livable for less than $400k. I grew up very poor so I’m not being hyperbolic whenever I say “livable”. I was not looking for anything glamorous. There were houses that should have been condemned going for $350k. This was in a “medium” cost of living area. I couldn’t even imagine what it would cost to buy in a high cost of living area.