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!LittleDragon · 08-03-2018, 02:24 PM

I did some basic calculations a while back when rates where in the mid 2% range. Even at such a low rate, you'll end up paying about double what you borrowed over 25 years.

Borrow $600k for a condo, the place needs to be 1.2 million by the time you pay it off to break even. Even at 1.2 million, I haven't taken into account 25 years of inflation, upkeep costs, property taxes, etc.

I'd rather have higher rates and lower prices. It's a hell of a lot easier to pay back $300k at 8-10% than $600k at 3%.

08-03-2018, 02:24 PM	#12614
!LittleDragon "They call me Bowser...RawR!" Join Date: Jul 2001 Location: Vancouver Posts: 8,337 Thanked 1,047 Times in 416 Posts Failed 60 Times in 31 Posts	I did some basic calculations a while back when rates where in the mid 2% range. Even at such a low rate, you'll end up paying about double what you borrowed over 25 years. Borrow $600k for a condo, the place needs to be 1.2 million by the time you pay it off to break even. Even at 1.2 million, I haven't taken into account 25 years of inflation, upkeep costs, property taxes, etc. I'd rather have higher rates and lower prices. It's a hell of a lot easier to pay back $300k at 8-10% than $600k at 3%. __________________ "Damn fine car Dodge... Ran over me wife with a Dodge!", Zeke