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I suspect house prices rise easier than they fall, because people will not willingly sell in to a negative equity position
by simonjgreen 5y ago
I suspect house prices rise easier than they fall, because people will not willingly sell in to a negative equity position
- ludamad 5y agoWhen doing calls to secure a mortgage, I definitely got a lot of "... And when your house appreciates in value...". On principle, I didn't want that getting to my head. Especially as I really do rather hope prices fall sharply for Canada's sake, my equity be damned. That being said, if things were down I definitely wouldn't be looking to sell
- dmurray 5y agoThis only has a small effect, though. If the median London house was bought 10 years ago, it already appreciated 50%+. Selling into a 10% slump wouldn't put anyone in negative equity.