The house is up fo sale

[George Cantstandya]

(10-10-2021, 01:16 PM)fredtoast Wrote: I know interest rates are low.  But just look what happened during the last housing bubble.  Many people ended up walking away from their mortgage when it was twice the value of the house.  Why keep paying on a $300K mortgage when the house is just worth $150K?

Banks are much more careful about over valued loans and bad loans than they were during the 08 crash.   Also I have not seen where home prices have doubled in recent years.   The article below says it has been an average 24% increase since 2019.  I also found the rest of the article interesting since it is on the topic at hand.

https://www.forbes.com/sites/billconerly/2021/10/05/the-housing-boom-is-not-a-bubble/

Here is a quote from the end of the article

Quote:Average families thinking about buying a house should be motivated by fundamental considerations: is this the right home for our family and can we afford it? If the answer is “Yes,” then go ahead and buy even if the price may decline for a year or two.