A Huge Number of Homeowners Have Mortgage Rates Too Good to Give Up
A Huge Number of Homeowners Have Mortgage Rates Too Good to Give Up
On a scale not seen in decades, many Americans are stuck in homes they would rather leave.
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I told my cousin to pick up a condo he liked in 2019. His cheap ass decided to wait. The condos in that building more than doubled in price and the rates tripled.
I had a similar experience with one of my best friends. In 2019 the market in our town was about to boil over and I suggested he try to find a house before it goes out of his reach. He was upset because there wasnt any more 200k houses that he liked anymore. He thought that it had to come back to that price someday. And then a couple months later, its almost impossible to find a 400k house that isnt a dump. Dude waited too long. He will never find that 200k place in this town now..