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50 Year Mortgage

Fernando said:
SF did something right for SFR to gain $600,000 more equity than in Indiana.
However I can't say for apartment landlords who have been hurt by rent control.
And commercial properties hurt by city's tolerance of lawbreakers.
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So what? A $1M home in SF is probably worth 2M in London. And my property would likely be worth much more than $1M in SF. I'm on 5 acres 20 minutes from downtown. My guess is the land is worth several M in your neck of the woods.

SF did something right? Maybe years ago but the idiots running it over the past 10-15 years have turned it into a cesspool. For exactly the reasons you cite. The businesses your politicians want to bleed to support the parasites are leaving by the droves, driving up the taxes on the fools that remain. Enjoy. Chances are your kids and grandkids will run away from that shthole as soon as they're able.
 
Mark K said:
So what? A $1M home in SF is probably worth 2M in London. And my property would likely be worth much more than $1M in SF. I'm on 5 acres 20 minutes from downtown. My guess is the land is worth several M in your neck of the woods.

SF did something right? Maybe years ago but the idiots running it over the past 10-15 years have turned it into a cesspool. For exactly the reasons you cite. The businesses your politicians want to bleed to support the parasites are leaving by the droves, driving up the taxes on the fools that remain. Enjoy. Chances are your kids and grandkids will run away from that shthole as soon as they're able.
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Other than that, did you enjoy your visit?
 
Mark K said:
So what? A $1M home in SF is probably worth 2M in London. And my property would likely be worth much more than $1M in SF. I'm on 5 acres 20 minutes from downtown. My guess is the land is worth several M in your neck of the woods.

SF did something right? Maybe years ago but the idiots running it over the past 10-15 years have turned it into a cesspool. For exactly the reasons you cite. The businesses your politicians want to bleed to support the parasites are leaving by the droves, driving up the taxes on the fools that remain. Enjoy. Chances are your kids and grandkids will run away from that shthole as soon as they're able.
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San Francisco just seems to continue thriving. Twitter started in SF and later attracted many high tech companies into the city.
And when many companies leave SF, new ones open up like OpenAI. The city refuses to die. Young people still attracted to rent there.
SF, a city for innovators and changers and when they succeed, the established companies move elsewhere to "retire".
 
Tying the original costs of a property when bought, to its ultimate value 30, 40, or 50 years later is nonsense in the discussion of mortgages. Very few things don’t increase in value over that time period. Heck, a new car bought in 1975 that was kept in a pristine condition and never driven would be worth quite a number today too, but I don’t think any of us would suggest a 50 year loan to buy it would have been a good financial move back then. Jewelry, guns, etc. Pick your poison.

To pay rent (interest) to borrow the funds to buy something should be an avoided expense, or as limited as possible if necessary.
 
Fernando said:
San Francisco just seems to continue thriving. Twitter started in SF and later attracted many high tech companies into the city.
And when many companies leave SF, new ones open up like OpenAI. The city refuses to die. Young people still attracted to rent there.
SF, a city for innovators and changers and when they succeed, the established companies move elsewhere to "retire".
Click to expand...
That’s all in the past.
 
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