"The CEO of the Mortgage Bankers Association writes that "homeownership is a primary way for families to accumulate wealth" (Letters, June 28). People regale friends with the magnitude of difference between the selling price and the purchase price of a house, and they view the difference as profit. Almost never do they include the costs of maintaining the house (mortgage interest, utilities, upkeep). When they do, the profit disappears and the fact that housing is largely a consumption expense is revealed.
Dwight K. Oxley
Wichita, Kan." [1]
In Lithuania, the lies of banks that provide housing loans also tempt people to buy overpriced junk. Only the people of Lithuania have less understanding of today's reality, which is why banks in Lithuania are much better at deceiving.
1. Where Did All the Profit Go?
Wall Street Journal, Eastern edition; New York, N.Y. [New York, N.Y]. 05 July 2022: A.16.
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