I know I’m supposed to want it to keep going up as a wealth generator or whatever.
But like… I wouldn’t be able to afford the monthly payments if I bought my house right now and it’s scary. Also none of my friends are buying homes, none of them are even renting full places. Just like renting rooms.
So what are your feelings home owners of lemmy?
A housing crash is only bad for you if you’re either outright selling, or moving to a less expensive house.
A bad crash can make you owe more than you can get for the house, which can make it impossible for you to move without losing money. If you lose your job or have to relocate involuntarily, property being cheaper elsewhere isn’t much consolation if you are under water on your existing loan.
Yes, so outright selling, or moving to a less expensive house, voluntarily or not.