no duh man, why you think the housing market collapsed? everyone owes more than what their house is worthAR1223 wrote:There's no barakah in anything that involves riba.FAH1223 wrote:its happening everywhere man, property taxes STAY going up while home values have drastically fell
Homeowners are looked as ATM Machines for the County and State gov'ts
my parents got this crib in 2003 at $450k, by 06 it was hittin $700k
shid now its back to half a mil
when im older, im just gonna rent.... save my cash... hopefully more Islamic oriented sorts of mortgage arise... but they have riba but they call it something else sometimes
the problem with rent though is you don't own the home and the person you renting from can screw you over if they're a pushover or in tough economic times
but if you own a home in America....the bank really owns it... not you