Reply to Americans locked into lower mortgage rates have been increasingly unwilling to sell their homes.

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Reply to "Americans locked into lower mortgage rates have been increasingly unwilling to sell their homes."

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Oh, and lemme add.

The ONLY thing and I mean the single biggest ONLY thing going/went for housing is [i]leverage[/I]. Where else can you get 1:20 leverage for a normal person? Nowhere.

But leverage works both ways. When it's going up, it's fantastic. When it's going down, your "investment"/money down is wiped out in a heartbeat and you're underwater.[/quote]

Lol no one gets wiped out in real estate with a 30 year fixed mortgage.  These aren’t stock options.

If you only want to be somewhere for 1-3 years, don’t buy.  But if you aren’t going to want to sell for 5+ years there’s no better move to make.  Unless you can live somewhere rent free.[/quote]

DP here. Are you a realtor?

Being under water is a very serious risk. It means that the best case scenario is you're stuck and can't sell without bringing money to the table. Life happens. I've bought 3 "forever homes" now. The worst case scenario is that you lose your job and can't pay the mortgage. You could go into foreclosure and lose it all. [/quote]

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