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The break-even math
With market deposit rates above 15%, a mortgage becomes financial suicide. Simple math: the mortgage payment today is significantly higher than the cost of renting a similar property.
It is more profitable to place the difference between the mortgage payment and rent into a savings account with compound interest. At current rates, the break-even point for a mortgage is unattainable for most people within their life cycle.
A mortgage is only profitable when inflation "eats" the principal of the debt faster than you pay interest to the bank.
#mortgage #rates #deposit