ST Alpha - "I love when mansions say "Est. Mo. Payment $25,257." like anyone who could afford that house would have a mortgage -- nm" (Reading a Post)

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In response to "Looking at real estate. I grew up 8 minutes driving from this, and had no idea this neighborhood existed. I can see why I didn't know. -- (link)" by MDH

I love when mansions say "Est. Mo. Payment $25,257." like anyone who could afford that house would have a mortgage -- nm

Posted by amanda jeans (aka amanda) Apr 16 '21, 07:33

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Responses:

and they do cute things like write the mortgage off as a business expense. or put the home in a trust that has different tax rules. -- nm - colin Apr 16, 08:04
You’d be surprised -- nm - spamlet Apr 16, 07:40 4
- Right? Why would you tie up all that equity when you could invest it instead? -- (edited) - znufrii Apr 16, 07:42 3
  - especially with low interest rates -- nm - JenBro Apr 16, 09:46
  - I was thinking more of the other way. They can’t really afford it but take out the Max loan to try. -- nm - spamlet Apr 16, 07:54 1
    - Probably more likely. If you actually have the money there’s really no need to show it off. -- nm - znufrii Apr 16, 08:01

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