Your property taxes must be way higher than mine. My PP tax on my home that is worth 150k is around $1200 a year. I realize it will probably go up over the next 30 years but I still won’t pay the value of my home in PP tax over the period of the loan.
You forgot property tax, car reg, gas tax. Technically you said "housing" but let's get it out there: property tax is significant.
Correct. And 15 years after your house is paid off, you'll have paid for it yet again in property taxes.
Your property taxes must be way higher than mine. My PP tax on my home that is worth 150k is around $1200 a year. I realize it will probably go up over the next 30 years but I still won’t pay the value of my home in PP tax over the period of the loan.