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Reply to "With interest rates and prices high, Americans are postponing their home searches by years, not months..."
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[quote=Anonymous][quote=Anonymous]40 percent of homes have zero mortgage on the United States. So what is their reason for not moving? [/quote] Many of that 40% is retirees/near-retirees who intend to age in place anyways (which is fine, it’s what I will want to do in the future). In the past a lot of the housing turnover comes from people in the 30-50 age range who in the past have moved up the property ladder from condo-townhouse-SFH. This is the group that is not moving right now, because it’s nuts to go from that townhouse at 3% into a SFH at 7.4% A poster above claims it is only 2020-2022 buyers locked in with the golden handcuffs of ultra-low rates, but they forget that so many existing homeowners refinanced in that timeframe.[/quote]
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