Re:Ever-increasing home values are a Ponzi scheme
by kelnos on Monday June 21, 2021 @07:09PM
(#27585732)
Of course not; it encourages home prices to keep going up, because people have access to another source to fund home purchases. The problem is, of course, that tapping your 401k-equiavalent is a long-term bad move unless you have a way to quickly put that money back without skimping on other things.
[ Parent
| on HN ]
Re:Ever-increasing home values are a Ponzi scheme
by dharmab on Monday June 21, 2021 @07:36PM
(#27585980)
It worked out pretty well for many of my friends' parents, who bought houses in the American West, raised their kids, and then sold their now incredibly valuable homes to retire to small towns.
Doesn't work so well when houses are expensive.