How is that a silver lining, isn't that the worst part of the problem?
In a more ideal world, we want mortgages to get more expensive (so that housing itself would get cheaper).
In a more ideal world, we want mortgages to get more expensive (so that housing itself would get cheaper).
* Assuming a fixed interest rate of course. Don't put that evil on anyone.
I am a homeowner and don't want my home value to double when real income has barely moved in the same period. That's not sustainable.
Even if I could sell without repurchasing, to pocket the cash, there's another generation behind me that's going to need a place to live.
You can't just have entire generations of homeless people without it affecting society.