SomaliNet Forums

AR1223 wrote:

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

There's no barakah in anything that involves riba.

no duh man, why you think the housing market collapsed? everyone owes more than what their house is worth

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

Fah

I think renting is like throwing your money out of the window.. one thing is not wanting the riba Mashaallah.
but another thing is paying the ribas of somebody else, perhaps the local landlord you rent the house from.
It's like saying I dont eat un halal meat , I just drink the maraq'
This interest is conventionally inside every aspect of the western financial system.
Hopefully muslim countries are getting stronger and looking at the huge unexplored financial market of muslims in the west.


its a war Allah has declared.
We must fight it and do our best, but we need institutions.
not all of us are blessed to get money from relatives to buy a home....

FAH1223 wrote:no duh man, why you think the housing market collapsed? everyone owes more than what their house is worth

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

You talk about Islamic oriented mortgage, yet you say it has riba. What's the point of mentioning it? Riba is riba. If you're involved in it, then make the necessary arrangements to move out of it gradually. To continue on it is to insist on it, and you know what that sort of thing is.

^ Ari I dont even trust socalled Islamic banks who on one hand deals with riba and western financial stuff and on the other hand.
Try to offer a ' sharia ' mortgage

An Islamic bank has to be pure and not collide with Allahs teachings.

you can't dine with enemy, and pretend you serve halal food as well