A Growing Problem in Real Estate: Too Many Too Big Houses

Re:A Growing Problem in Real Estate: Too Many Too Big Houses by treis on Thursday June 20, 2019 @04:48PM (#20237190)

You're not accounting for equity changes. Even if you lost 20% of your house value you've paid down more of your mortgage than that.

[ Parent | on HN ]

Re:A Growing Problem in Real Estate: Too Many Too Big Houses by refurb on Thursday June 20, 2019 @11:45PM (#20239720)

On a typical 30 year mortgage you haven’t paid much principle in the first 5-10 years. So if you’re still down 10% (as some of those cities are), you could still be in the red.

[ Parent | on HN ]

Re:A Growing Problem in Real Estate: Too Many Too Big Houses by qes on Friday June 21, 2019 @05:45PM (#20246548)

I'm in my first mortgage, 30 years on ~$200k, almost nothing down. Starting to look at selling next year, which will be year 10.

If it sold for the price I bought it, I'd walk with at least $40k of equity after closing costs. But it's also increased in value about $60k.

And I'll have maybe $10k in maintenance and fix up costs over that decade.

[ Parent | on HN ]

Re:A Growing Problem in Real Estate: Too Many Too Big Houses by treis on Friday June 21, 2019 @09:06AM (#20242155)

For a 4% loan you pay off 10% of the mortgage in the first 5 years and 22% after 10 years.

[ Parent | on HN ]