3 ms·
Where I live (a city about 2 hours from Stockholm) paying it off over 20-30 years is still doable, at least as long as itnerest stays below 3%. We payed off alm
by bjoli 6y ago
Where I live (a city about 2 hours from Stockholm) paying it off over 20-30 years is still doable, at least as long as itnerest stays below 3%. We payed off almost 15% of our house in about 5 years.
Whether it is financially sound is another matter. Interest rates have been low for many years, and investing has been a better choice for some time. Many pay their houses off to about 50% and then leave it there at the default mortgage, only loaning more money when something needs to be done on the house.
- dagw 6y agoWhether it is financially sound is another matter. Yea, this is a big cause of the current 'problem'. It's not so much that people cannot pay off their mortgage in 30ish years, it's that the current financial climate heavily disincentives people from doing so.