Originally Posted by
Gone Flying
IMO one of the biggest divisors between the haves and the have nots for a long time to come will be those who already owned a home in 2020. Most homes near any of our bases have doubled in price in the past 5 years, combine that with the stark difference in interest rates compared to what we have now, the mortgage payment on the same house could easily be about 3x what it was 5 years ago. It’s insane how much that one thing affects your life.
Yeah. Honestly that kind of have and have not disparity might become a huge issue in America is it hasn’t already. Home ownership has always been the path to the American Dream and I feel that’s not good for societal stability if that’s unattainable for more and more people.
but eventually market forces dictate that people are eventually going to have to lower their asking price when selling a home, and current owners are just going to have to stomach not getting an absurd return on their house when they want to sell it?
Has anyone seen home prices decline the last couple years? I’m toying with the idea of moving north of NYC from where I live south of NYC to be closer to in-laws and it seems prices have at least stabilized and homes are staying on the market longer.