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I think 2 things here: people today seem much more likely to relocate due to work and other preferences...in 2018 the median duration of holding a personal prop
by mym1990 5y ago
I think 2 things here: people today seem much more likely to relocate due to work and other preferences...in 2018 the median duration of holding a personal property is 13 years, hardly a lifetime. But lets say that someone buys a house and owns it for a lifetime...eventually that will be passed down to the kids or whomever, and they may want to liquidate in order to move somewhere else. Although in 2008 and also today much of what was/is happening in complete speculation, which upends the market for many people.
- vngzs 5y agoNit: "personal property" traditionally means any property except for real estate. Using it to mean "real estate" is confusing.
- PopAlongKid 5y agoFurther nit: while it is true that there are two types of property, real and personal, there are also several different uses of property, such as investment use, business use, and personal use. So one can refer to personal-use real property, such as a residence, versus business-use real property, such as an office building. It seems TFA doesn't address commercial mortgages at all.