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Yabbut if you're taking out a 30 year mortgage, you're not just going to look at current oil prices. The media are full of stories about the end of oil and loo
by kbob 10y ago
Yabbut if you're taking out a 30 year mortgage, you're not just going to look at current oil prices. The media are full of stories about the end of oil and looming price increases.
- gozur88 10y agoThe media is also full of stories about new billion-barrel fields being discovered. Based on what Americans are buying to drive, they don't seem too concerned about the price of oil. I don't know what it is now, but back when I bought my first house the average length of time people stayed in a house was 4 1/2 years.
- kbob 10y agoWe consider it acceptable for a car to be mostly depreciated after five years of ownership. We do not want our houses to have lost value in five years, especially as many of us will still owe 75% of its value. A house is still a longer term investment than a car, even if you sell it.