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Mortgage rates spike could upend housing market (www.newsweek.com)

submitted 4 months ago by [email protected] to c/[email protected]

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[–] [email protected] 2 points 4 months ago

I get it. If real estate wasn’t an investment vehicle, we wouldn’t have this ever increasing pressure to make more money or starve.

It’s completely bizarre that a 40 year old house appreciates 33% in 5 years with absolutely no renovations or other added features. It’s arguably worse off, as it’s less efficient than newer properties and items like roofs and HVAC systems have finite lifespans.

I kind of wish home prices stayed somewhat stagnant. If you rent for 10 years, you have no equity. If you own for 10 years, you have (hundreds of?) thousands. That alone is enough to create wealth gaps in otherwise identical groups of people