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That's an interesting statistic. The prospect of being "house poor" isn't particularly enticing to the younger generations either. And your bank actually owns t
by yazzku 2y ago
That's an interesting statistic. The prospect of being "house poor" isn't particularly enticing to the younger generations either. And your bank actually owns the place until you've paid the last cent anyway. Couple that with the general precarity of the job market, and you probably won't be putting that down payment even if you technically could.
- chii 2y ago> your bank actually owns the place until you've paid the last cent anyway. your bank "owns" the place, but you gain the economic and utilitarian benefits of the place (after all, you get to live in it, or rent it out and receive income). It's not exactly the same as the bank owning it.