4 ms·
There’s a lot of other points that work in different ways. A mortgage has extremely low flexibility, it’s not something you’re able to diversify and you’re stu
by hrktb 6y ago
There’s a lot of other points that work in different ways.
A mortgage has extremely low flexibility, it’s not something you’re able to diversify and you’re stuck with for a decades at times depending on your situation.
Also most predictions are based on people never ever moving around, which was the norm for a while. Nowadays it’s not crazy anymore to change country, or to at least move around depending on opportunities or life changes.
In these occasions, changing renting places is a matter of paying an extra month or two. Switching a mortgage will be a magnitude more in general.
We played that game with an apartment we bought, the different costs we hit at every corner wasn’t anything trivial or accounted for in most “why you should buy” listicles.
- InTheArena 6y agoPropensity to move in the USA is actually _down_ recently (I supposed with the exception of the bay area right now). The USA is still by far the most frequent relocating nation - but it's way less then it used to be: https://webcache.googleusercontent.com/search?q=cache:0EMOk98HkgsJ:https://blog.indeed.com/2016/09/14/american-mobility-drops-but-job-moves-hold-up/+&cd=2&hl=en&ct=clnk&gl=us&client=ubuntu https://webcache.googleusercontent.com/search?q=cache:0EMOk9... https://www.brookings.edu/blog/up-front/2018/11/19/americans-arent-moving-to-economic-opportunity/ https://www.brookings.edu/blog/up-front/2018/11/19/americans... The point about it being a illiquid asset is good though.