Quote:
Originally Posted by Baronvonellis
Couldn't you say people buying houses and condo's are getting rent control from the bank though. Plus you get to deduct it from your taxes yet renters cant deduct their rent . You get to pay a fixed rent for 30 years without it going up. In the meantime the value of the property is going up, so there's no reason why the bank couldn't raise the mortgage as the value of the property goes up to reflect that. Since they don't get paid till the mortgage is paid off in 30 years or whatever the time period is. If you bought a house at auction for $200k and in 10 years its worth $500k you got rent control for it. You should be paying a bigger mortgage to the bank.
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This is a really asinine comment - you are either playing devils advocate, or have no idea how home ownership works.
Typical comment on here of punishing people who make smart investments - why on earth should a home owner be forced to make a bigger payment to a bank. Additionally, homeowners pay property taxes (mine, in the city of Chicago have gone up $15k over the past 12 months), Home owners insurance, etc. You have lost your mind.
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