Reply to With interest rates and prices high, Americans are postponing their home searches by years, not months...

Forum Index » Real Estate

Reply to "With interest rates and prices high, Americans are postponing their home searches by years, not months..."

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]40 percent of homes have zero mortgage on the United States. So what is their reason for not moving?

And home prices really only shot up the last three to ten years. My section very few homes turn over and even the 60 percent with mortgages most of my neighbors have smaller mortgages.

I myself am down to $385k on a $1.5 million home.

Only people trapped by rates are 20-22 peak buyers with little down who locked in generational low rates. My neighbor who bought a fixer upper my block in 2016 is hardly locked in. Already paid 8 years of mortgage and bought it cheap, 
[/quote]

They aren't moving from their paid off houses because they can't afford to downsize.

We could sell our house and make money, but just enough to pay cash for a smaller house in worse condition in a worse neighborhood. Or maybe an out of date condo in a decent neighborhood. [/quote]

A lot of older people are in your same situation. It just doesn't make sense to downsize with the transaction costs and insanely high realtor fees.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics