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If you can count on stable employment for the next 20 years, you can make a plan like that. Otherwise your fallback might be to sell the house before it's paid
by jbay808 6y ago
If you can count on stable employment for the next 20 years, you can make a plan like that. Otherwise your fallback might be to sell the house before it's paid off.
From a HN perspective, this means it's hard to buy a house and do a startup; you'll never accumulate enough savings to reduce the risk.
In the inflation-adjusted past, you had the option to save up $100k or get a $5k/month mortgage; now you have the option to save up $1M or get a $5k/month mortgage. The monthly payment hasn't changed but the space of options and (and their risks) certainly have.