4 ms·
I feel like a crash would be a good thing for workers though? I mean pretty much nobody will ever be able to buy a house unless there's a major asset price cras
by uejfiweun 5y ago
I feel like a crash would be a good thing for workers though? I mean pretty much nobody will ever be able to buy a house unless there's a major asset price crash.
- xxpor 5y agoSure, if your only expense in life is buying a house.
- quantified 5y agoIf it’s not the biggest, you have attained a measure of wealth, good on you.
- xxpor 5y agoPractically speaking for most people, the effect that buying a home has is replacing their rent payment with a monthly mortgage payment. While it's still probably the single largest payment made in a month, it's (hopefully) not a majority of your income, or even spending. Plenty of folks pay more for say, child care now.
- quantified 5y agoPer month, perhaps. Over 30 years? Everyone’s got their own equations, if I paid for the house all cash, of course. If I have one kid, and only 10% down on a $2mm house, gotta really pamper the kid to catch up