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Debate Info

17
20
true false
Debate Score:37
Arguments:32
Total Votes:37
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Argument Ratio

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 true (16)
 
 false (15)

Debate Creator

atypican(4875) pic



There are two reasons one might accept a conventional mortgage, idiocy or intimidation

true

Side Score: 17
VS.

false

Side Score: 20
2 points

I think there's more reasons than the ones you listed but I'll vote in favor of the general concept that people sign on for mortgage deals which help the banks more than help the homeowners.

Most people are like the old story of lemmings. When they reach a river to cross they see everyone else is jumping in and swimming so they do, too. They just assume they're not going to be one of the unlucky who drowned. But in their defense, if they don't swim for it then they're stuck on the other side, and most people would rather die than give up on their dream.

Side: true
1 point

For kicks I will defend that any of these "additional reasons" are forms of the two I presented.

Side: true
Grenache(6053) Disputed
1 point

There there. Intelligent educated people can genuinely do their research and read financial analysts advice and come to the conclusion it's smart to take out a mortgage. And then get burned. You're not automatically an idiot just because you chose to take a calculated risk but then lost. And you're not intimidated if you actually did your homework first.

Side: false
1 point

It's true. Mortgages should be outlawed. Banks should pay for people's houses with no strings attached, hold no liens on the property, and print all the money they need so everybody can be happy.

Side: true
SatintLater(283) Disputed Banned
1 point

EXTREEME SARCASM DETECTED! CAPTAIN! IT'S OFF THE CHARTS! AHGAHGAHGAHGAHGAHGAHAGHAGHAGHAGAH. KLAXON SOUND!

Side: false
1 point

OBLIGATORY SECOND POST*

Side: false
3 points

Money paid as rent is a sunk cost, never to be recovered. Money paid as a mortgage is an investment in the equity of a house, which is retained by the person paying the mortgage. The advantages of buying over renting are numerous, and for those who cannot afford to buy a house outright, a mortgage might be the only feasible option to buy.

Side: false
Grenache(6053) Clarified
1 point

Your statement is true. And that in fact is why people take out mortgages even though the mountain of money is obscene and they have to pay for about a decade before they even start to touch the loan amount they had to borrow.

Side: true
atypican(4875) Disputed
1 point

So you are intimidated. You are made to believe you are over a barrel so to speak.

Side: true
Bohemian(3860) Disputed
2 points

No, I just understand the concept of sunk cost. Poor people rent, and is one of the contributing factors for why many of them will stay poor. The advantages of buying are numerous, as any financial expert will tell you. That some people overexert their finances and take on debt that they cannot handle is no argument that all debt is bad, or that all mortgages are bad. Do your homework first, understand what you are getting yourself into, and for Godssake don't take on debt that exceeds 25% of your income.

Side: false

I want my house now, I don't want to save up 30 years and than get my house.

Side: false
atypican(4875) Disputed
1 point

Why not buy a piece of land and build a tiny house you can afford on it? Building on as you go.

Side: true
Bohemian(3860) Disputed
2 points

Before I was born my father had sold the house that he and my mother were living in, he bought some property and he and my Grandfather started construction on a house on the land. Both of them had Construction experience, but no experience with house-building specifically. My grandparents at the time were foster parents for the state and my grandfather had enlisted the help of some of the foster boys to help build the house. It took a few years and they finally completed construction. The house was 'different' from other houses, it had plumping, electrical, and other things a house would normally have, but you could tell whoever built it had no experience house-building. It was worse quality than the house they sold so that they could build it. There were a number of serious mistakes that were made during its construction. I have no doubt had my father had built a few more houses he would have gotten much better at it. Years later when someone bought the property they had the house demolished.

Keep in mind this was with 7 people or so, two of whom had construction experience, and a couple years construction time. I can only imagine how it would have turned out with one person with no construction experience.

Side: false
1 point

Because I don't know anything about building and a house is a really nice thing.

Side: false