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A comment on A Growing Problem in Real Estate: Too Many Too Big Houses. Parent comment

Re:A Growing Problem in Real Estate: Too Many Too Big Houses by scarface74 on Thursday June 20, 2019 @01:45PM (#20235296)
But you have to live somewhere. The eviction process is a lot faster than the foreclosure process. A landlord is incentivize to evict you as fast as possible. The bank does not want your house - especially during a recession where the value is dropping and then they become responsible for insurance and upkeep.

Anecdotally when my parents bought their house in 1978, the $600 a month they were paying on their mortgage was a slight stretch. When they were in their last year in 2008, that amount was laughably small.

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Re:A Growing Problem in Real Estate: Too Many Too Big Houses by SketchySeaBeast on Thursday June 20, 2019 @05:31PM (#20237586)
> Anecdotally when my parents bought their house in 1978, the $600 a month they were paying on their mortgage was a slight stretch. When they were in their last year in 2008, that amount was laughably small.

Hopefully wage growth keeps up with inflation then.

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Re:A Growing Problem in Real Estate: Too Many Too Big Houses by scarface74 on Thursday June 20, 2019 @07:19PM (#20238421)
That’s the beauty of a fixed mortgage. Wage growth doesn’t have to keep up with inflation. The mortgage stays the sane - the only thing that goes up is the property taxes and insurance. One of the few benefits of living in one of the most conservative suburbs of one of the more conservative states is their aversion to raising taxes.
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Re:A Growing Problem in Real Estate: Too Many Too Big Houses by SketchySeaBeast on Friday June 21, 2019 @09:58AM (#20242513)
But the only way to make it hurt less is if you have more spending power in relation to it - if your wages don't rise much, but the price of living goes up, the mortgage is still going to hurt just as much.
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Re:A Growing Problem in Real Estate: Too Many Too Big Houses by almost_usual on Thursday June 20, 2019 @02:43PM (#20235926)
The eviction process varies quite a bit by municipality. Evicting someone in San Francisco is _much_ harder than evicting someone in another city. I would much rather rent in SF than own a home.
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