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If you have relatively secure employment and think your employer will raise wages in line with inflation, now is an incredibly good time to get a mortgage.
by phreeza 5y ago
If you have relatively secure employment and think your employer will raise wages in line with inflation, now is an incredibly good time to get a mortgage.
- kingkonz1 5y agolol
- greenpizza13 5y agoMind explaining the lol here? I would love to know the counterargument to the mortgage comment.
- EVa5I7bHFq9mnYK 5y agoHere it is: If inflation continues to rise, interest rates will rise too. If interest rate increases x2, house prices will fall proportionally. So you might end up owning more to the bank than you house is worth in the market.
- phreeza 5y agoIf your income rises significantly in dollar terms, you can easily pay off your mortgage, and stay living in your house? If you are forced to sell in the dip you are in trouble, but most people I know buy houses with the expectation of living there for decades.
- jbay808 5y agoThat's true if you have a full-term fixed rate mortgage. In some countries, like Canada, those are not available.
- EVa5I7bHFq9mnYK 5y agoOnly 37% of homeowners stay for more than 10 years in the same house.
- lp0_on_fire 5y agoThey're probably referring to the inflated housing bubble that's currently hanging above the country.