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They will since they always can renegotiate their mortgage once interest rates go down.
by ReptileMan 4y ago
They will since they always can renegotiate their mortgage once interest rates go down.
- inglor_cz 4y agoThis is a good observation. Nevertheless, the worst obstacle in owning a home is actually buying it. Ten or fifteen years downstream, your principal payment likely represents a much smaller fraction of your income than it did when you bought the property, and you can renegotiate the mortgage in better times, as you say - so even the interest can be kept under control. But the first years of your first mortgage are a real challenge. You need to cough up the downpayment, you might have young kids to take care of, you might still be relatively low on the career ladder etc.