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Real estate
Is Buying a Home The Safest Investment?
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[QUOTE="Mika, post: 273019, member: 29399"] A lot of people believe that buying a home is the safest investment. They believe you can start living in your own home by making $20-30K down payment and paying the mortgage for 20-25 years. Sadly, they don’t realize they are buying liabilities for 20-25 years. They not only have to pay a mortgage but also other expenses like house maintenance, insurance, taxes, etc. When the developers build the house, they get a loan from banks, and banks make money by lending money to the developers. When people buy homes, they get a house loan and they pay interest on loans to the banks. So, ultimately, banks benefit from this market. The housing market was created as a product for a bank so that they can lend money to make money. In order to lend money, the banks needed a product. Business is a product, a lot of people get a business loan, but it is risky because the business might not succeed. However, people with an income will pay the house loan. There are no risks for the banks. [/QUOTE]
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