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> Are we really trying to compare financing a house to financing a car? I have an issue with that for one main reason. Your house doesn't move and subject to th
by danans 4y ago
> Are we really trying to compare financing a house to financing a car? I have an issue with that for one main reason. Your house doesn't move and subject to the irrational decisions of other houses moving at high rates of velocity within mere feet of each other.
No, but plenty of other unplanned things happen to houses. Otherwise why have homeowners insurance?
> Also, your house is pretty much (if you maintain it) only going to increase in value.
That depends on your timescale. Can you wait 10 years for a house not to be underwater? A whole lot of folks from 2008 couldn't - including people who were current on their mortgage but needed to move for work. Also plenty of locations go into secular decline and the houses lose real value even with maintenance.
- dylan604 4y ago2008 situation was a weird one with crooked finance companies screwing a whole lot of people. sure, some blame can be placed on those taking the loans, but that's quite a bit of victim blaming to me. the concept of people buying houses and moving every couple of years is something that I always thought strange. i don't care what kind of loan you took out, there's no way that can be sustainable. emergencies happen, and there are somethings that can be done to help, but using 2008 as a torch bearer seems off to me.