A Fool and An 8% Mortgage, by AGXIIK and Renozep

November 09, 2023

I BOUGHT AN OVERPRICED HOME WITH AN 8% MORTGAGE. I’M A MORON. BUT I REPEAT MYSELF.

A fool and his money are soon parted.

An exceptionally well written piece by Dan Harkey that speaks to buying to achieve upward mobility, a bigger home, more stuff and an affluent lifestyle to impress friends, better social status and, plain and simple, show off that you’ve arrived. Yeah, you’ve arrived. At the point where you’re writing checks your ass has to cash. The problem with this scenario is you have gained absolutely nothing except making everyone; broker, bank and insurance agent and tax collector rich by your economic ineptitude while you’re peddling as fast as you can to arrive at penury and debtor’s prison. But hey, it’s the American way.