3 ms·
That's the perfect analogy, a huge disincentive to move. I was telling my son today that I would love to move, we need a different house and for a variety of re
by fred_is_fred 3y ago
That's the perfect analogy, a huge disincentive to move. I was telling my son today that I would love to move, we need a different house and for a variety of reasons in a different neighborhood. But I cannot bring myself to trade 2% for 7%. Back when it was 5.75% for 6.25% who cares, now it's a big deal. My exact same house now would cost me 2x in payments.
- arb-spreads 3y agoSome people rent out the original house or try to transfer the low mortgage rate in order to monetize it.
- cperciva 3y agoLong term non-transferable mortgages are the home ownership equivalent of rent control. In both cases housing ends up being used suboptimally because moving is too expensive.