Re: OT: AARP

Judity wrote:

Large mortgages? Do they need these large fancy homes in expensive neighborhoods? By buying homes they can't afford, they're the ones driving up the housing market for others. Then, they cry when the banks foreclose on them because they can't afford the payments.


I can't speak for other areas of the country, but I live in a (reasonably) low-priced area.

Large mortgages aren't about the McMansions, necessarily. They're about starter homes--and one contributor to that is that the housing prices in areas like California and the NE are so high that when they sell, they can buy in cash in other places. That makes the other places' housing costs go up because of demand.

That is not a controllable effect by an individual with a responsible budget.
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