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Does it really count as owning if you have a mortgage? (partly tongue-in-cheek, but only partly)
Edit: Bah, someone else already made this smart remark. That's on me, I didn't read the whole thread before posting.
Edit again to answer your "how common" question: Most of my older friends/relatives/acquaintances own their homes. Most of those younger than me do not. Or maybe it's 50/50 by now? I'd have to make a list and try to count, but that's too much trouble for a lemmy comment.
My parents never got a mortgage...
They sort of borrowed money from a friend that immigrated earlier and already established here and somehow was able to afford a house in Brooklyn, NYC.
They somehow accumulated enough, plus savings, to buy a Phily home approximately $100K in cash...
Of course they have to work overtime to repay those debts back to those friends and relatives they borrowed from...
Kinda like a "mutual aid" network... sort of... lol...
Eh, I'll still count it. Even if it's not a formal "mortgage" from a bank, it's still a loan to buy a house.