Posted on 11/10/2025 6:56:25 AM PST by Red Badger
“Renting can be the right choice for some.”
$6 year sage when we first got married, we rented.
Then after about 6 years we bought a mobile home and rented the lot from a trailer park owner.
Then we were able to eventually get a mortgage for a real brick and mortar house and sold the mobile home.
Paid off the 30 year mortgage in 16 years and now that money goes into the bank...............
“Diminishing Musharaka is a joint purchase agreement between you and your Islamic bank.
“Each payment, consisting of rent, capital, and charges, reduces the bank’s share and increases your ownership stake.
“As your share grows, the bank’s share, and your rent, decreases over time.”
It doesn’t matter.
Extremely few people ever pay off a mortgage. They just move on to a different house with a new mortgage, or take advantage of refinancing if rates go down.
People just care about how much a month they can afford. They don’t know or care about how much is principal and how much is interest.
Essentially, banks own housing. You just rent it, the rent being your mortgage payment. And you have todo all the upkeep yourself.
The origin of the word mortgage is Old French, meaning 'death pledge'.
It IS the sign of a problem. A money-printing and debt problem. The US money supply is up nearly 40% since 2020. That money is blowing a massive bubble in areas like real-estate and tech stocks.
And it's not only the USA. Its the same in all advanced countries and China.
Trump can't fix it. Its built in to our political and monetary system.
Diminishing Musharaka is a gradual shift from mainly renting to full ownership.
“Paid off the 30 year mortgage in 16 years and now that money goes into the bank...............”
My credit union loaned me via the mortgage, money at 3.1% which is invested in stocks yielding over 2% in QUALIFIED dividends and are appreciating at over 10% a year.
And build equity if prices rise while you own it.
“Essentially, banks own housing. You just rent it, the rent being your mortgage payment. “
The state owns the land. Don’t pay your property taxes for a few years and you’ll see who owns it..............
Lumber for a 30x30 two-story house
outside walls
~240’ of 2x6 studs 16” o.c. ~= 180 studs ~= $900
~360’ of 2x6 plates ~= 45 studs ~= $225
inside walls
~120’ of 2x4 studs 16” o.c. ~= 90 studs ~= $350
~120’ of 2x4 plates ~= 15 studs ~= $60
platform framing
24x2 of 2 16’x2”x12” joists [96 16’x2”x12” joists][Note: I-beams would usually be used]
+
4 16’x2”x12” platform ends ~= $3000
subtotal ~$4500
plywood
roof x 30’x30’ ~= 1000 sq. ft. ~= $1,100
floors ~1800 sq. ft. $42 4’x8’x3/4” sheet ~= $2,400
sheathing ~1920 sq. ft. ~= $2,000 [Note: Oriented Strand Board would normally be used]
truss wood
16(1+30/2 24” o.c.) x 70’ ~= 140 2x4 studs ~= $560
wood for house ~= $11,000 total
Compare to ~$20,000/year health insurance and Long Island $10,000/year property tax.
“The origin of the word mortgage is Old French, meaning ‘death pledge’.”
Wrong. Nothing to do with death.
AI
The word “mortgage” comes from Old French and literally means “dead pledge”. This is because the pledge becomes “dead” or void under two conditions: either the debt is fully paid off, or the borrower defaults on the loan and loses the property. The word is a combination of the Old French mort (dead) and gage (pledge).
“Incentives for companies/builders building smaller, less expensive homes for folks who don’t want a McMansion and/or the taxes and costs that come with one.”
You don’t need artificial incentives to increase home ownership. You just need less government.
1. There are too many land restrictions, cutting off supply of lots.
2. There are too many stupid environmental rules, cutting off supply of lots.
3. There are HUD and other rules that make middle class homes unaffordable because you have to build low rent apartments for illegals. (And no one wants to live next to Section 8 housing or having them go to your kids’ school.)
4. Too many mortgage rules cutting off building normal homes (you have to give mortgages to minorities who can’t pay, raising up rates for good credit risks, due to defaults).
5. Too many illegals sucking up apartments and raising rents so people can’t save up for houses.
6. Illegals lowering wages so people can’t save up for houses.
7. Illegals on welfare increasing taxes (and inflation).
8. Illegals using free healthcare, raising up medical expenses and insurance for those who pay.
9. Too many environmental laws lowering lumber that can be recovered and raising its costs. After land, this is the next expense.
10. Too many environmental laws raising up the cost of HVAC and other appliances (and making them suck).
Etc.
Get rid of all that garbage and the price of housing plummets.
I dont know about that. I have two kids in their early 30’s. They both have bought homes in moderate cost of living cities. They are married. They all have/had student debt.
But they worked their butts off, a lot of OT, in pretty middle class professions.
Could they have done it in Boston or SF? Probably not. But it is not impossible.
One of the things I see is people expecting t afford a home on a single income. That has NEVER been the model. The whole American Dream was based on two parent households, often Iiving with parents until marriage. THAT is where people are falling short.
Long Island $10,000/year property tax!?!?!?!?!?...........
We just paid our Florida Property Tax for 2026...$750.........That includes Fire District, County School District, Water District and regular County and State taxes............
Most people don’t understand the time value of money. They just see the total interest and irrationally freak out.
Paying off a mortgage, while good, is quite overrated.
You either live in a s#ittier house with a shorter mortgage, or a better house with a longer mortgage. It’s a tradeoff.
“Essentially, banks own housing. You just rent it, the rent being your mortgage payment. “
GEEZ, not that old tripe again.
You own the house. The bank only has a lien for a limited amount.
You get the equity, not the bank.
When you rent, you not only pay the owner a monthly profit you also do not build equity.
No...its death pledge, meaning the deal lasted only until one of two “deaths”: either the debt was paid off (death of the obligation) or the borrower defaulted (death of his rights to the property).
But you do you, reddit fag.
States can create new capital cities, which would have affordable housing and amenities.
They can get the land (and cellphone spectrum) by eminent domain or an every other lot deal used to create Washington, DC.
You think that’s bad, just wait for the next DemonRat pres to remove the ability to deduct the interest in the mortgage from your income tax (like was done for credit card interest).
I paid off two mortgages @7.5% the 2nd one a 6.7%the first one was tough,wages low.
Today EVERYTHING is over priced because of inflation.Get the inflation down.Housing and taxes are way out of line.
Some of us got zero point chit for interest on savings for
a long time.It was less of a risk than the market and other investments.Get rid of inflation and the fed.
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