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][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]

Sounds like you’re bad at making decisions if you keep buying houses think they’re your forever house and they’re not.

Home values tank once a generation or so.  And if you just don’t sell during that time, you’re fine.  You buy a house within your means, just like you rent within your means, so you don’t end up homeless if you lose your job.

Buying is still BY FAR the best financial decision.[/quote]

Thanks for confirming that yes, you are a realtor.[/quote]

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