3 ms·
True: people can afford $X/month. The proportion that goes towards interest is less relevant. In fact, I'd prefer a lower sticker price & higher interest rate
by ineedasername 5y ago
True: people can afford $X/month. The proportion that goes towards interest is less relevant.
In fact, I'd prefer a lower sticker price & higher interest rate to get to $X. That way when interest rates inevitably drop at some point I can refi at the lower rate and get the partial benefits of both lower sticker $ and interest %.
- quadrangle 5y agoLow interest rates and high price is also quite simply a huge profit for existing homeowners at the expense of new homeowners, all pushed by banks. It's almost as if macroeconomics is a real topic after all! /s