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"2) Your future mobility to pursue jobs in other cities, becoming significantly constrained" Not necessarily. I can always rent out my flat for about the same
by kbart 10y ago
"2) Your future mobility to pursue jobs in other cities, becoming significantly constrained"
Not necessarily. I can always rent out my flat for about the same monthly fee I pay for mortgage and rent a flat myself in other city/country in case of a good job opportunity. Sure, being in a debt for few decades has many drawbacks, but restricted mobility is not one of them.
- ghaff 10y agoIt still reduces mobility vs. just renting though. Now you're a landlord and probably dependent on the rental income to pay your rent in the other city/country. Obviously, it's all doable. But it's clearly a constraint (even if it's a worthwhile one) relative to not owning.
- umeshunni 10y agoNot to mention that, at least in the US, most owned homes are single-family homes in the suburbs and the rental market for those is significantly different than a flat in the city.