One big reason the U.S. housing market is broken: Owners don’t want to give up their cushy old loans.
  • CmdrShepard@lemmy.oneEnglish
    1·
    1 year 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.