Rental property billionaire says buying a home (with a mortgage) is "fancy bullshit" and you should rent instead
Rental property billionaire says buying a home (with a mortgage) is "fancy bullshit" and you should rent instead
[Mortgage Is 'Just A Fancy Bullsh*t Word For Paying Rent For 30 Years To The Bank,' Says Real Estate Billionaire Grant Cardone — Here's Why Renting Could Be A Better Financial Move
](https://finance.yahoo.com/news/mortgage-just-fancy-bullsh-t-171148202.html?guccounter=1)
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He's right as far as mortgages go, which is one of the most abusive financial albatrosses a person can wear. Nobody tells people that they're going to actually pay 3 to 4 times the amount they bought the house for when they sign the papers.
But where does he even get the idea that rent is less than a mortgage at this point? That's sure not what it looks like to me.
You only pay 3-4x what the house is worth if you stay in the house for 30 years and pay the minimum payment. If you pay extra on the principle - because your income went up over the last 10 years - you pay less. If interest rates go down in that time and you refinance, you pay less.
Never pay extra on ur mtg omg!!! Keep your capital liquid!
Your second to last sentence is simply not remotely true! Your last sentence is only true in certain cases.