Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

If you have relatively secure employment and think your employer will raise wages in line with inflation, now is an incredibly good time to get a mortgage.


[flagged]


Mind explaining the lol here? I would love to know the counterargument to the mortgage comment.


Here it is: If inflation continues to rise, interest rates will rise too. If interest rate increases x2, house prices will fall proportionally. So you might end up owning more to the bank than you house is worth in the market.


If your income rises significantly in dollar terms, you can easily pay off your mortgage, and stay living in your house? If you are forced to sell in the dip you are in trouble, but most people I know buy houses with the expectation of living there for decades.


That's true if you have a full-term fixed rate mortgage. In some countries, like Canada, those are not available.


Only 37% of homeowners stay for more than 10 years in the same house.


They're probably referring to the inflated housing bubble that's currently hanging above the country.




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: