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I find the bad news angle weird too. If our home were to lose half of it's value it wouldn't really change anything except our ability to move in the near futur
by sosodev 4y ago
I find the bad news angle weird too. If our home were to lose half of it's value it wouldn't really change anything except our ability to move in the near future. That's assuming I keep my job during this time of course.
- choeger 4y agoWell, it depends on how you financed. If you paid a large part of your mortgage already, or needed a small one to begin with, you can still move, bacause all houses will get cheaper. If you sit on a large mortgage, though, you better don't move and have a long-running fixed interest rate.
- gipp 4y ago> That's assuming I keep my job during this time of course. Sure, but that's the other jaw of the trap we've built for ourselves. The knock-on effects of large-scale drops in home values are highly likely to induce major economic disruption on a national scale, which makes losing that job all too likely.