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Fellow home owners, are you ready for the housing market to crash? (lemmy.world)

submitted 1 year ago by ericbomb@lemmy.world to c/asklemmy@lemmy.world

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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?

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[-] BigilusDickilus@lemmy.world 2 points 1 year ago

You people are freaken nuts. Half million dollar bet on a wood house that a single flood or fire could destroy you. You have zero control over your taxes or if some zoning department person wants to just ruin your life.

In fairness, my mortgage is never going to go up aside from property tax which is pretty reasonable here, whereas our rent was going up every year. Also every mortgage payment is at least in part a bank deposit towards when we sell at some point.

[-] afraid_of_zombies@lemmy.world 0 points 1 year ago

I don't know why you say that. Your taxes can easily go up, your insurance can go up, and your bank can do all kinds of games. Which doesn't even deal with if your neighborhood changes and your house is underwater.

this post was submitted on 29 Sep 2023

360 points (95.2% liked)

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