The Subprime Meltdown and the Ownership Society
If, say, those fees came to 10 percent on a $200,000 house, or $20,000, then the transaction costs would have added $5,000 per year to the housing cost for a typical moderate-income home buyer. Since the median annual rent in Washington is only around $9,000, the transaction costs associated with buying and selling a home are significant. A family that lived in a home for only four years almost certainly would have been better off renting.
You pointy-headed eejit.
Did you stop to consider what the fuck that low rent would get a person?
Did you stop to consider the kind of people you’d have to be around at that low rent?
Buying a house isn’t always about money, you goddammed dope.
It’s about being around better surroundings and better people.
Related prior coverage in this blog:
All That Free Money And I Never Knew The Party Was Going Down Or Even Got An Invite. As Usual!
First Cracks, Then Crumble, Then Crash
The Answer Is Yes
When An Economy Crashes, Baby, There Are No Airbags!
And Then Google’s Stock Finally Thank You Jesus Crashes And Takes The Entire Global Economy Down The Toilet, Thank You Science!
The Road to Great Depression 2.0