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

104

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.

Chat

jordanlund@lemmy.world
link
fedilink
arrow-up
25
arrow-down
1·
11 months ago
I banked enough cash WFH to buy a house in October of '21 and got a 3.25% fixed. There are 28 years remaining with a $2,000 a month monthly payment.

Why would I give that up? What’s the incentive to take a higher interest rate and a higher monthly payment? There really isn’t one.

News@lemmy.world

news@lemmy.world

You are not logged in. However you can subscribe from another Fediverse account, for example Lemmy or Mastodon. To do this, paste the following into the search field of your instance: [email protected]

Welcome to the News community!

Rules:

1. Be civil

Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.

2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.

Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.

3. No bots, spam or self-promotion.

Only approved bots, which follow the guidelines for bots set by the instance, are allowed.

4. Post titles should be the same as the article used as source.

Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.

5. Only recent news is allowed.

Posts must be news from the most recent 30 days.

6. All posts must be news articles.

No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.

7. No duplicate posts.

If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.

8. Misinformation is prohibited.

Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.

9. No link shorteners.

The auto mod will contact you if a link shortener is detected, please delete your post if they are right.

10. Don't copy entire article in your post body

For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.

Visibility: Public

This community can be federated to other instances and be posted/commented in by their users.

4.23K users / day
9.02K users / week
13.9K users / month
29K users / 6 months
1 local subscriber
23K subscribers
16.4K Posts
394K Comments
Modlog