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I don’t know what’s sadder the giant Safeway sandwiches going from $9.99 to $13.99 or my mortgage about to go up like 200 goddamn dollars…
As a renter, I don't pity the mere $200 increase you're dealing with.
My mortgage has gone up like $300 in the last 14 years due to taxes & insurance... but if I were still a renter it'd have gone up by $1000 (or more?) so I'm not complaining.
You should complain. We’re all getting ripped off.
I mean, my house value quadrupled during that time, so it's kinda fair that I'm paying more property taxes. As for the insurance... I gotta admit I haven't paid much attention.
The insurance is based on the cost to rebuild the home, which has also drastically gone up, so it makes sense that it has risen too
Yes and no: yes in that the real cost has indeed drastically gone up, but no in the sense that the cost that the insurance company would actually pay would be based on the policy's coverage limits, and I'm not sure if those have actually been adjusted to keep up...
Unless you are selling the house (which still means you have to buy another one…) it’s paying for unrealized gains which the rich fucks making the rules tell us is so unfair whaaaa whaaaa whaaa (insert child crying noises here)
On the contrary: as a single-family homeowner, I'm being massively subsidized compared to the amount of city services and infrastructure I consume. (It could be worse: I could have a large lot in a car-dependent suburb instead of a small lot in a streetcar suburb and therefore be even more of a leech -- i.e., like those rich fucks you're talking about -- but still, I'm definitely not paying my fair share of taxes.)
If you want to know who's really getting ripped off, it's all the renters in dense apartments. Not only are they paying extra so their landlords can profit, they're paying even more because they're the ones funding the subsidy for single-family homeowners like me. Basically, I'm exploiting them via the skewed way property taxes are assessed. Thanks for funding my privileged lifestyle, people too poor/unluckly to be able to buy a house! 🤑
(But seriously, it really is very unfair and we need to reform the property tax code and, even more importantly, the zoning code.)
It is so messed up how every part of our society is secretly tuned to make being poor trapped yet every rung up the ladder to being wealthy, the journey gets a little easier by hidden subsidies like this.
My car insurance has doubled in less than 8 years. But don't worry, it has less coverage too! Oh, but I'll get a teeny tiny discount if I let them install a lowjack!
My car insurance went up like 20% from last year to this year. Exact same shitty "coverage" as before.
Yep mines about to go up $200 because my insurance is over $1,000 more this year.
The saddest part is the beefy 5 layer burrito being what people that worked at Taco Bell would order and ask for it grilled for a reasonable cheap meal to now resulting in “WTF is there any ground beef here? WTF is there real cheese? Are these ‘beans’ safe to consume?”
Edit: my friend who previously worked there when in college asked if it was even beans on the thing…
escrow went up that much?
Yes, your escrow can go up that much if your property tax, school tax, or in some cases insurance had a sudden jump in value or changes in what can be claimed. It varies by area and loan, but isn't unheard of.
interesting, based on Zillow info my house doubled in price in the last 5 years, but my escrow only went up $20 in that time, mostly insurance, don't tell my county tho 😂
How do you have a mortgage change price? I don't get that? Both of mine haven't ever changed.
Mortgage payments cover insurance and taxes in addition to the mortgage itself. Unless you have a variable rate mortgage the portion of the payment going to the loan doesn't change but the amount needed to cover taxes and insurance can.
Oh okay. So I could just include the other charges when I say mortgage here in the states and I could say the same thing then.
I think it's typical to get a 5 year contract and having to renegotiate a new mortgage at the end of said contract. At least, it is here in Canada. Rate goes up, monthly payment goes up.
Do you have 10, 15, and 30 year loans up there?
They exist, but from what I hear, they're very hard to get. I would've loved to get 30 years with the interest rates I had five years ago.