That makes sense, but it's kind of dark. It also explains the ridiculous bubble the market is going through right now. People are buying houses for more than they're worth without even doing inspections.
I suppose the good news for people who paid cash for houses is that even if the bubble bursts, since they don't have a mortgage, if they NEEDED to, they could take out an equity loan later on if they need to make repairs and can't afford it.
I'm wishing I could sell both of my houses right now in this market but then not buy a new one for a while. That'd be a lot of work. haha.
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Yeah, it got me thinking about the "bubble" as well. It might not be as much of a bubble as we think it is. It is really going to hurt the people who aren't paying in cash. Also the bystanders who are just going to see their taxes go up.
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I dunno
I think inflation might make it worth having a mortgage. But we’ll see
I have one, whether I like it or not, so I guess we will see!
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