This might be duh for some people, but if you’re like me and considering a mortgage; at today’s rates in the US at around 5-6%, over 30yr mortgage you will pay about same in interest as you will for your house price.
Your $500k house will cost you around $1M total over thirty years.
I was surprised.
While I agree that it should be more affordable and our system is broken, I don’t think it’s a bad idea to work within the system to see what works out as the best long term option for being better off, from a purely financial perspective. Then the security and emotional side can be considered perspective. More financial literacy, not less is what leads to changing the system. When people don’t understand the system, they don’t have the same level of political support for changes that can actually work.