Originally Posted by
BLAHBLAHBLAH
Wonder how people are feeling now about refinancing paid off houses and investing in the market and Crypto now! I'll take a paid off house any day. Everybody has a plan until they get punched in the face (or wallet)!
If one refinanced their home at say, 3% and taking their difference putting it in the markets is a long term (30 years or so) investment decision. The drop in the markets is short term. The markets will be coming back to new highs in the not too distant future. They always have, no matter how negative you feel right now.
The problem is people are emotionally driven, short sighted. They sell at a low point, and then panic and buy at a higher point.(Buy high, sell low, make emotionally driven stupid buying decisions.)
Refinancing at higher percentage, say, 5% has pretty well come to a halt. One does not refinance a 4% mortgage at 5%.