• RobertoOberto@sh.itjust.works
      link
      fedilink
      English
      arrow-up
      8
      ·
      11 months ago

      Because the people and organizations with the capital to loan out millions of dollars for house purchases are the ones who make the rules.

    • BombOmOm@lemmy.world
      link
      fedilink
      English
      arrow-up
      2
      ·
      10 months ago

      What is your proposed alternative system? All of this is just an interest rate applied to an outstanding balance. Many less people would own a house without such an option.

      • Abnorc@lemm.ee
        link
        fedilink
        English
        arrow-up
        2
        ·
        9 months ago

        Yeah my parents are vehemently against borrowing money except for a mortgage. Otherwise, how will you save several hundred thousand dollars or more to buy a house in full? Most people can’t do that, even over decades.