As I said I hate city, but if it’s a city with good public transit and lots of infrastructure for NOT cars, then I’d be down.

Regular cities with loud smelly traffic NO THANKS.

During that first Covid wave, nobody was driving. Roads were so quiet and air was so clean. It was a dream.

Except for the smell of all the people dying.

There's plenty of economists who argue that this is the best reason to buy v. rent. You're basically buying rent control.

Yeah, I thought it was different in much of Europe but still it's a little surprising that it's only 5 years. That's more like the terms of a car loan here in the USA is. Don't quote me but I think I remember hearing the average car loan is now like 6 years. Like .... if you need to take out an 84 month loan maybe don't buy that $65k dollar truck idiots.

I still think the standard here is 30 year mortgages but I think 15 year mortgages is much more common than they used to be. There's a very explicit regulatory goal of increasing home ownership in the US and increasing the length of the loan drives down monthly payment --- which is good if you only think about the money going out every month but bad in about every other way.

Sorry, I mean you can take a 30+ year mortgage, but you can lock in the interest rates for 5 years. Help protect against if interest rates shoot up.

Yeah a 30 year mortgage would be less than half my current rent, and it would never go up (unless interest rates shot up, after the 5 years).

Obviously the longer the mortgage period, pretty sure you end up paying more interest, so it’s bad in that way, but having the cheapest monthly outgoings also has benefits imo.

I think 28 people died here during that first year. I didn’t know any of them. No smell.

What do you have against paying $500+ a month just in car payments? Isn’t that like the American way!

dabs, we could always enter a life insurance pact where were both take out policies and put each other as the beneficiary

then every time we see each other post we'll have a reminder that today we didn't get rich

Cool, let’s do it!

In before Dabs get murdered for the life insurance money

Wow, that’s dark, Greg.

There was me just thinking it was a good deal because I’ll live longer.

Ah, yeah they have those here too. Sometimes with very predatory terms. Typically the fixed rate is for the entirety of the 30 years. 30 year interest rates are higher than 15 year interest rates because the bank is pricing in a risk premium that rates could rise and they'll be at the unwelcome end of that equation. Something, something yield curve.

That does sound quite predatory.

I can’t actually find any info about how our payments are set up re: interest being front loaded. Probably is a thing here too though.

Actually smart of you and Rick to make each other beneficiaries. Otherwise, if your wife ever meets Rick's wife on a train, they'd conspire to kill each other's spouse to collect the insurance without casting suspicion on themselves

yeah i'm definitely not going to live as long on average but i still want in since it's basically a freeroll if you think about it

i appreciate this reference, tbh i didn't much like the cut of your jib for some time but you've definitely grown on me

Lock in for 30 years and just refi if interest rates go down

That's like 25% of the population.

I don’t think we can do that. If we could it would probably be at something stupid like 4%. F that. I want the 1.5% rate tyvm.

Rick says he’s not living as long as average. I plan to live far longer than average. This deal is looking better and better for me.

I wish it was. I really do. Too crowded.

I mean I wish 28 people was 25% of the population. Not that I wish 25% of our population died of Covid...

Don’t want to be cancelled again.

is there a difference between getting canceled and only posting in omg?

Probably, but it doesn’t matter to me. I have no plans to venture outside of this place.