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That's a big and dangerous assumption. Take the Bay Area...many people living here now that will likely never be able to buy a home if prices stay even close t
by shostack 11y ago
That's a big and dangerous assumption.
Take the Bay Area...many people living here now that will likely never be able to buy a home if prices stay even close to where they are (let alone ever pay it off if they did). So then they have large mortgages or high rents.
There's also increased risk of major medical expenses, the baggage of paying for things like divorces, college, etc.
- tonyedgecombe 11y agoRight now you can assume those with high mortgages are in their twenties and thirties, someone in their fifties probably sorted their housing problem twenty five years ago.
- shostack 11y agoAgain--that's a big assumption. Would love to know what data you are basing that on. It is dangerous to assume a certain narrative about a certain demographic like that.
- tonyedgecombe 11y agoIt's not a big assumption, or did you think peoples mortgages increased with age?