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[quote=Anonymous]By comparison last year one million home today is now $1,120.000 million

Assuming 20 percent down last year was an $800,000 mortgage.

Today 20 percent down is a $896,000 mortgage.

Plus last year you could refinance. And get lower price and lower mortgage.

Other concern many lucky folks who bought in 2009-2012 are not even refinancing. They are just paying it off.

Case on point brother bought a fire sale house on Florida in 2011 with 20 percent down. Almost ten years into mortgage and his balance is low just paid it off.

At these super rock bottom mortgage rates the challenge will be even low rates to refinance or rising salaries, stocks and home prices so you can pay it off.

Most folks don’t want a mortgage past 70 or they are downsizing at 70 and would like a lot of equity to buy retirement home for cash.

This Chevy Chase homes bought for 600k by a 50 year old in 2000 are cash cows for 70 years olds retiring to Florida.

But will that 1.6 million Chevy Chase home for today’s 50 year old be a cash cow in 2040.

Who know? It always seems to go up long term [/quote]

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