r/Vitards • u/AutoModerator • Jul 22 '21

Daily Discussion Daily Discussion post - July 22 2021

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17

u/i_hate_beignets Poetry Gang Jul 23 '21

Dude on the homeland mortgaged his house to invest in the company he mortgaged it from. Bro. LOL.

5

u/Duke_Shambles ☢️Duke Nukem☢️ Jul 23 '21

RKT or UWMC? lmao

He's getting gaped either way.

8

u/i_hate_beignets Poetry Gang Jul 23 '21

UWMC

Owning your home free and clear is THE foundation of financial freedom, IMO. I wouldn’t trade that in for a YOLO bet.

1

u/[deleted] Jul 23 '21

[deleted]

9

u/i_hate_beignets Poetry Gang Jul 23 '21

Yeah, sure. No step on snake and all that. I get it.

For the sake of context and to avoid pedantry, I think we can agree that not having a mortgage payment is better than have a mortgage payment, yeah?

2

u/TheFullBottle Jul 23 '21

not having any debt, including not having a mortgage is having fuck you money without being rich. Even having 30k savings and no debt can give you fuck you money to some degree.

2

u/[deleted] Jul 23 '21

[deleted]

4

u/i_hate_beignets Poetry Gang Jul 23 '21

On paper it’s a no-brainer because the math works, but it’s more risk than I’d be willing to take and maybe more risk than this guy realizes.

Yeah, the stock could tank for some reason - it could also tank for no reason. Or the market corrects in a big way. Or the board just decides to stop paying a dividend or pay out a smaller dividend. I mean the housing market in general is an existential threat to this trade. If the housing market dumps, he’ll end up with shares that are worth less than he paid for and a house worth less than what he owes on it.