StrawberryPigtails@lemmy.sdf.org to

News@lemmy.world · 11 months ago

A 30-Year Trap: The Problem With America’s Weird Mortgages

www.nytimes.com

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A 30-Year Trap: The Problem With America’s Weird Mortgages

www.nytimes.com

StrawberryPigtails@lemmy.sdf.org to

News@lemmy.world · 11 months ago

One big reason the U.S. housing market is broken: Owners don’t want to give up their cushy old loans.

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CmdrShepard@lemmy.one
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10 months ago
Imagine being 10 or 20 years into your mortgage and suddenly you can’t afford your payments anymore due to a rate increase. You have to sell the house and then try to find another one at the inflated rate and then start back from square one.

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