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this post was submitted on 14 Aug 2023
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What would happen to your finances if your property value went down?
So regarding your statement here:
So if your property value decreased you'd still be better off than any renters would be.
If you want to talk about how hard it is, don't even mention renters because the comparison makes your situation look rosy.
I'd love to have a concrete asset worth hundreds of thousands to back me up, but instead I have to spend 60% of my paycheck on somebody else's mortgage payments and I don't even get to own anything for all that money I'm spending.
Did your house burn down and you didn't have insurance to rebuild or how the hell did you manage that? The market has softened a little, but not that much. Well, maybe if it was a $30,000,000 home?
Saying the liberals are in a tough spot because they have to choose between helping renters who have no assets and owners who have hundreds of thousands is obviously going to raise a comparison.
It doesn't seem like a tough choice from where I'm standing. People like you will recover over time. But people who don't own homes have nothing to recover. So it's pretty obvious who needs the help.