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Americans Must Earn $114,000 a Year to Afford a Typical Home (www.bloomberg.com)

submitted 2 years ago by haxor@derp.foo to c/hackernews@derp.foo

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[–] Yawweee877h444@lemmy.world 7 points 2 years ago* (last edited 2 years ago) (12 children)

Why would I want to go into debt with a bank for thirty fucking years? Why does a bank get so much free money over that thirty years in the form of interest, for almost nothing? All they do is front the cash, and that's it. Why does that justify so much free profit? Why is this the way it has to work?

[–] M500@lemmy.ml -2 points 2 years ago

Also consider that most banks have free checking amounts. Those cost money.

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