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Why not? You can lease a car. IMO an interest-only mortgage is basically renting with upside to the equity, which is something the US seems to be very keen on g
by maerF0x0 11mo ago
Why not? You can lease a car. IMO an interest-only mortgage is basically renting with upside to the equity, which is something the US seems to be very keen on getting everyone to have some skin in the realestate game. I'm not really into governments being paternalistic so I'd rather see people be allowed to choose poorly, but they also need to be able to suffer at least some consequences.
- bdangubic 11mo agocan you leave the keys to the house after my interest-only loan expires in 3 years? :)
- maerF0x0 11mo agobasically renting, not exactly the same. The point is interest only loan is Renting + Equity Exposure. It's a good move if you are experiencing the price appreciation growing faster than your downpayment. You can enter the market price exposure before you get priced out. And if you're right about the direction it's heading you can make money (relative to renting) so long as your outflow is similar to renting (across the time span, rents go up...)