Mortgage are most wrong financial decision you can make

[Voxo2222]

Lets do the little calculation why
You buy house or apartment with total 300,000$
You have to put down payment of 15-30k ...wich is all ready bad.
With this 15-30k you can make more money in 1-2 years by investing it  on gold stock IPO usually 5x-10x return of good ipo if u buy before listing.

With crypto u can make easy one year 100k of this if you divide this money small percentages. And buying  dips of btc and some othet good coins.

But if you put money down on mortgage that big and it takes 20-30 years to pay back mortgage well the chnages are u never going to pay off this also you put your capital wich has a lot good ways to use just giving away your hard earned money.


Mortgage without high rate and without downpayment even not smart but with downpayment no right in their mind will never do that.

You better rent if you can afford downpayment the money u r willing to put down for the downpayment  u can live one year in decent apartment and you have money free to use.

Second thing is it smart to buy property ?
Only smart is you want to let and making profit out of it.

But to be smart with money you can buy items only wich not exeeds your 2%  then you stay in preospeurs state in your life.

How do i know its time to buy or sell ?
Its so simple if dollar strong.....you sell dollar.
And buy back weaker dollar to get cheaper dollars.

If inflation hitting hard its a top on markets so no goestions about it you sell everything if inflation going lower you buy everything.

Do not worry about something you sold at the ATH and it keep going higher after this its a " overbought" the fools trick. The price will come down sooner or later make sure u sell at green all gold real estate stocks and crypto.


As we see so many easy opportunities to use money smart to but it down on mortgage payment its a clearly wrong doing with ur finances and waste of money.


If you put down payment on mortgage its money you just trhow away and never gona see it.

[1714471764]

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[jackg]

Realistically, if you have the money for a house, you might be better off taking out a mortgage at 2% interest and investing in stocks and making 4% though so it depends on where you are I guess (stocks were used as an example as I'd consider them more stable and you can diversify globally quite easy with them and 4% is often returned from utilities)...

[not financial advice]

[fiulpro]

Mortgage in some countries is ofcourse undeniably ridiculous. But you have to understand that it's not always about buying a house it's also *sentiments as well* which is honestly very important for some people.

Some people do not want to buy a house at all, they rent for a long period of time and haven't been happier, therefore I do think that we cannot compare since money and smart decisions aside, sometimes it's important for the family.

Mortgage is a good and wise decision if you know you are living in a place where the rent is extremely expensive. Honestly look at the apartments in London, you can just buy one for 2 year worth of rent.

Therefore it's not so easy to calculate the right decision to make. But investing is ofc a good way to make that money, especially investing in stocks and bitcoins. But that too is not 100% true since you might need to encash when the value is low and might have to hold onto that.

[Voxo2222]

Mortgage in some countries is ofcourse undeniably ridiculous. But you have to understand that it's not always about buying a house it's also *sentiments as well* which is honestly very important for some people.

Some people do not want to buy a house at all, they rent for a long period of time and haven't been happier, therefore I do think that we cannot compare since money and smart decisions aside, sometimes it's important for the family.

Mortgage is a good and wise decision if you know you are living in a place where the rent is extremely expensive. Honestly look at the apartments in London, you can just buy one for 2 year worth of rent.

Therefore it's not so easy to calculate the right decision to make. But investing is ofc a good way to make that money, especially investing in stocks and bitcoins. But that too is not 100% true since you might need to encash when the value is low and might have to hold onto that.

If u buy then yes but not good to take it with mortgage.

[pinggoki]

What a dumbass, not all your money should be put in an investing instrument, there are other forms besides the investing that you're talking about and the one that you're saying that's bad way to spend money is actually a really good investment which is real estate and we all know that real estate will only go up in value thus placing mortgage to pay for your own home is an investment itself especially if you want to settle down, renting would be bad long-term. But I can see where you're getting at, mortgage is expensive but to say that it's a bad investment isn't really a fair statement.

[Falconer]

I'm just not sure why people only think of 1-2 year gain in bitcoin. This investment is risky where no one can guarantee that we will get 100% annual return on investment. I know that in the long term we will be very happy with the return, but when they invest in the ATH price, they have to hold on to it longer. Indeed, this investment is profitable, but must consider the risks. I only talk about bitcoin investing because I think crypto (altcoin) are generally no better than bitcoin.

Mortgage, it really depends on what purpose you are doing it. I don't have to do it just because I want to own a house because generally I only need a minimum of $20K to own a simple and minimalist house in my country. Some people in my work environment have been doing it for a period of 5-10 years, but generally they are not people who have an interest in investing (stocks or crypto) but if they buy gold.

[Voxo2222]

I'm just not sure why people only think of 1-2 year gain in bitcoin. This investment is risky where no one can guarantee that we will get 100% annual return on investment. I know that in the long term we will be very happy with the return, but when they invest in the ATH price, they have to hold on to it longer. Indeed, this investment is profitable, but must consider the risks. I only talk about bitcoin investing because I think crypto (altcoin) are generally no better than bitcoin.

Mortgage, it really depends on what purpose you are doing it. I don't have to do it just because I want to own a house because generally I only need a minimum of $20K to own a simple and minimalist house in my country. Some people in my work environment have been doing it for a period of 5-10 years, but generally they are not people who have an interest in investing (stocks or crypto) but if they buy gold.

U dont neeed to invest ATH time price !!
U buy low

[Voxo2222]

What a dumbass, not all your money should be put in an investing instrument, there are other forms besides the investing that you're talking about and the one that you're saying that's bad way to spend money is actually a really good investment which is real estate and we all know that real estate will only go up in value thus placing mortgage to pay for your own home is an investment itself especially if you want to settle down, renting would be bad long-term. But I can see where you're getting at, mortgage is expensive but to say that it's a bad investment isn't really a fair statement.

To give out 20-30k for down payment i dont get nothing for this really just more the obligatoion to pay debt.
Better use money smart way why should u give to banks ?
Take the 30 years mortgage plan u are 30...you get payed when you are 60 its grazy anything could happening ...

When you take ur mortgage down payment just keep that money wait for crash and buy things cheap in this inflationary money printing scenario we are in now more often crashes occurs.

Or take ur 30k go some cheap place buy house there and rent it out not good to just give away  for so called " mortgage down payment"
Also ur morgtage monthly payment are quite similar with rental payment adding up your 30k also we get quite bad financial decision here to get mortgate

[so98nn]

I mean come on what to say, I need house to live in so that I can save myself and my family from rain, winter, summer man. My house won’t be mine forever, it will surely passéd down to the children, their children and their children so on. So in my family or anyone’s family someone has to take this bright step to build a base. In my country this is by default big thing and our houses stay as it is for generations to come. It’s our pride as well as hereditary property which we keep passing on and on.

Making money is good thing, and if I’m earning 100k every year from crypto currency then I’m sure my life’s way easier to buy house without mortgage.

It’s not wrong by the way, you have to do it and you need basic thing like shelter to breath in peace.

[pinggoki]

~

To give out 20-30k for down payment i dont get nothing for this really just more the obligatoion to pay debt.
Better use money smart way why should u give to banks ?
Take the 30 years mortgage plan u are 30...you get payed when you are 60 its grazy anything could happening ...

When you take ur mortgage down payment just keep that money wait for crash and buy things cheap in this inflationary money printing scenario we are in now more often crashes occurs.

Or take ur 30k go some cheap place buy house there and rent it out not good to just give away  for so called " mortgage down payment"
Also ur morgtage monthly payment are quite similar with rental payment adding up your 30k also we get quite bad financial decision here to get mortgate

Well, you don't pay that amount if you don't have any means to sustain the payments and to keep things going. You're saying is bad because you're buying a house immediately when you know that you're money and what you're earning isn't enough. You buy a house and pay mortgage when you know that you'll be able to pay it. It's not a bad financial decision, you just suck at making a plan on what you should be putting your money in.

[Voxo2222]

~

To give out 20-30k for down payment i dont get nothing for this really just more the obligatoion to pay debt.
Better use money smart way why should u give to banks ?
Take the 30 years mortgage plan u are 30...you get payed when you are 60 its grazy anything could happening ...

When you take ur mortgage down payment just keep that money wait for crash and buy things cheap in this inflationary money printing scenario we are in now more often crashes occurs.

Or take ur 30k go some cheap place buy house there and rent it out not good to just give away  for so called " mortgage down payment"
Also ur morgtage monthly payment are quite similar with rental payment adding up your 30k also we get quite bad financial decision here to get mortgate

Well, you don't pay that amount if you don't have any means to sustain the payments and to keep things going. You're saying is bad because you're buying a house immediately when you know that you're money and what you're earning isn't enough. You buy a house and pay mortgage when you know that you'll be able to pay it. It's not a bad financial decision, you just suck at making a plan on what you should be putting your money in.

Its a bad situation to be in debt 30 years that big without down payment it might be option but u make urself in debt u might lose ur house also u lose down payment and also the money what u did payed as life have no guarantees its not smart to put urself in more not beneficial situation.
If u do have money to put down paymemt u might just considereing the option to rent as u dont need to put down 30k

Second thing is buying car with 30k is same dumb move as using this 30k for mortgage downpayment.
In case of car always its good to lease with zero or near zero down payment.



Remember guys you always neeed cash reserves in ur life so live the way u never give away ur reserves so think whts most beneficial for you.

[Fatunad]

~

To give out 20-30k for down payment i dont get nothing for this really just more the obligatoion to pay debt.
Better use money smart way why should u give to banks ?
Take the 30 years mortgage plan u are 30...you get payed when you are 60 its grazy anything could happening ...

When you take ur mortgage down payment just keep that money wait for crash and buy things cheap in this inflationary money printing scenario we are in now more often crashes occurs.

Or take ur 30k go some cheap place buy house there and rent it out not good to just give away  for so called " mortgage down payment"
Also ur morgtage monthly payment are quite similar with rental payment adding up your 30k also we get quite bad financial decision here to get mortgate

Well, you don't pay that amount if you don't have any means to sustain the payments and to keep things going. You're saying is bad because you're buying a house immediately when you know that you're money and what you're earning isn't enough. You buy a house and pay mortgage when you know that you'll be able to pay it. It's not a bad financial decision, you just suck at making a plan on what you should be putting your money in.

When making out decisions like this then it would really be needing that consideration and proper thinking and realization if it would be good or not for long term and this isnt something that you shouldnt really mind off because it would really be just a waste if you do able to stop paying and lost the house or car that you've been paying off for long because they would definitely be pulling it off if you wont able to pay it correctly and exactly. Mortgage isnt bad as long you are responsible and be mindful on your due and this is where some people do lack off and starts to regret when they already lost something.

[timerland]

Not really.

Mortgages give you tremendous leverage at a cheap price (at least at current ridiculously low interest rates) which allows you to make great profits when housing even goes up by just a little.

It's the reason why housing markets are as attractive if not more so compared to the stock market - without this leverage, it is not very attractive at all.

[adaseb]

I find a lot of people that think this way. They basically say it’s stupid buying cars cash when you can get a loan for like 3% and invest the rest and make 10%. Or people like the OP who say mortgage is stupid when you can rent and just invest your down payment in crypto or stock market and make at least >10%.

I got news for you. The stock market or crypto market won’t always go up. Sure if you are guaranteed 10% then it’s a different story but just because the stock or crypto markets had a good run the last decade doesn’t mean that the next 10 will be the same.

[michellee]

That sounds easy

But that is not easy as we think because some people can take a loan for their lives and use it to develop or grow their business. But most people are afraid to take a loan because they think that it will feel hard to repay the loan. There is no guarantee we can make a big profit investing in crypto in one year because we already saw that crypto is unpredicted and sometimes, we need to have big patience to see our investment value is growing.

People can invest in crypto but they should use the money they can afford and not take a big risk if they can not handle the risk. People can gamble with their lives while others just do not want to risk their lives with the loan.

[Gyfts]

Lets do the little calculation why
You buy house or apartment with total 300,000$
You have to put down payment of 15-30k ...wich is all ready bad.
With this 15-30k you can make more money in 1-2 years by investing it  on gold stock IPO usually 5x-10x return of good ipo if u buy before listing.

This is the dumbest financial advice you could possibly give. You're advocating for someone to essentially gamble with the money they could use to buy a house, or pay for rent (the roof over their head essentially). You do not invest with money you need to live, you invest with excess fund you have in order to grow wealth.

Gambling the house payment away is a great way to end up homeless. You seem so sure you could get a 5x-10x return on any investment, are there contingency plans? Doesn't sound like it from your post. In the event you end up with a net loss, then what? You have no assets, and you ended up with less money after investment.

Genius thinking.

[pealr12]

I think paying rent then invest the rest on crypto or gold ipo according to op is not a bad idea, there is a good chance you can double that invested amount then you can buy a house without having to go through a mortgage, although the crypto market is not predictable, anything can happen, but the chances of getting good returns is high.

[Poker Player]

What a dumbass,

Lol, I wouldn't have put it that way, but I find the OP lecturing us on this subject amusing to say the least.

The whole argument of investing the money you have instead of paying a down payment is garbage and does not take into account the risk. If you pay 10% of your mortgage from the beginning you already have 10% equity, and every month that goes by, you have more equity. Having a paid off house gives you a lot of peace of mind.

I don't deny that some people might do well with what the OP says, but most people will do better with a simpler way and low risk.

[paxmao]

Realistically, if you have the money for a house, you might be better off taking out a mortgage at 2% interest and investing in stocks and making 4% though so it depends on where you are I guess (stocks were used as an example as I'd consider them more stable and you can diversify globally quite easy with them and 4% is often returned from utilities)...

[not financial advice]

not financial advice either.

The fact that you buy a house with x5 or more leverage is what makes it an interesting business. You are basically doing business with someone else's money. If inflation is around 2% and you are paying a 2 o 3% is quite difficult to end worse than you started even if things go south. The main risk is not being able to pay or get into a large negative equity, but that is not really common unless you buy at the peak of a bubble or have very bad luck on your choices.

On top of that, if you are buying a house to live in, you would always need to consider that anyway you would need to pay to live somewhere, so the alternative is not to spend zero.

[CryptocurencyKing]

I'm not a big fan of mortgage and don't do any of that myself but, we cont completely rule it out to be a bad choice. In one instance, it gives many a chance to own some property and if one is diligent enough and follow his or her payment plan, one might archive the payment of all that is owed.

Paying rent and investing for a few years might seem like the best way to go but, let's not forget that, investing is never a 100% chance for success. It could go sideways too and that too pushes years of expectation into the distance. Hence, it becomes less an option you one who doesn't have the foresight for a good investment idea.