2 ms·
> I’d manage, but would stop spending for years. If what happened, exactly? If you already "own" a home and are paying back a loan on it, a price drop of other
by tom_mellior 7y ago
> I’d manage, but would stop spending for years.
If what happened, exactly? If you already "own" a home and are paying back a loan on it, a price drop of other housing units would not affect you in any way unless you felt that you needed to sell right at that moment. Would your payments rise from falling housing prices? Or your income decrease?
- alkonaut 7y agoIf prices dropped so my loan was 100% or 110% of the value, I’d try to get back to a reasonable level (85% say) as quickly as possible. This would require saving more and spending less than I’d otherwise do. Even if I have no plans on selling, you never know when you might be forced to sell (death, divorce, illness, work, ...).