LogFAQs > #954006383

Mead posted...

not really like rent at all

its a bill you pay to keep living somewhere that doesnt build equity. from a financial planning perspective, i put property tax + mortgage interest in the same bucket as i put rent in. that's a different bucket than i put paying down my mortgage in.

so for most of the time i owned my house, i had a ~1000$ 'rent' payment and a ~1000$ 'move my money from my bank account to my mortage' payment

another way to put it is that renters pay property tax as part of their rent; they just do it through the intermediary of their landlord and are therefore unable to deduct it. so you get the double whammy of no deduction + more institutions in the middle extracting your labor

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my mom says people make fun of me because they're jealous