3 ms·

Congrats, Your House Made You Rich. Now Sell It

• ggm 3y ago
  Writing as a boomer, since I've paid down my mortgage, I don't care. To me my home was not an investment in this sense of shares or an LPT. I'm here to live in it. I intend to die owning it. I have not bought it with a view to its future asset value. But anyone who is early stage high debt will be looking at this trend with fear and trepidation. Boomers selling up is great for people stuck in the rental trap and excluded from property ownership by price and I would welcome a downward valuation on property, for that reason. But for the people on 5 and 6x their income debt to equity leveraged into $1m and $2m mortgage debt no matter what the interest terms, this is dire.
  • _kulang 3y ago
    How that sort of mortgage debt ever became “normal” is a real tragedy
• metalliqaz 3y ago
  why post links to wsj if they can't be read?