I see it stated a lot in social justice circles that the path to building ‘generational wealth’ is via home ownership, but having lived with homeowners, that doesn’t seem to make sense. From the outside it looks like something you throw money into for decades, and then die and the bank takes over. How does just having a mortgage start to accumulate wealth???
In: Economics
> the **bank** takes over… How does just having a **mortgage**
In this case, you are not a homeowner since the bank owns your home (or technically has a lien on it). What people are referring to is almost certainly flat out owning your home – no payments to anyone.
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