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Most homeowners have a mortgage, and that doesn’t go down when the house price goes down. This can result in negative equity and it traps people in their curren
by jl6 2y ago
Most homeowners have a mortgage, and that doesn’t go down when the house price goes down. This can result in negative equity and it traps people in their current property until they can pay off the original debt.
- mistrial9 2y agothe number of mortgage-free residential homes in the USA is at record levels, increasing steadily in the last 20 years. Contrast this to the demographic bulge of middle class born shortly after WW II, and the financial advantages of long-term home ownership with low monthly costs.