Quote:
Originally Posted by hulkrogan
So everyone who bought during the 30/35/40 year mortgage period just got royally $*%&ed.
Good work government.
|
I don't get why anyone would want to do a 30/35/40 year mortgage in the first place. If you need to stretch yourself THAT much to get approval or feel comfortable with your monthly payments you should simply be buying a lower cost home or condo etc.
I really don't think this will impact the market a ton, if anything it will hurt the mini mansion buyers with mid-income levels. All these $750-900's 3000 sq foot homes on the edge of the city will be a harder sell. They will be the first to get hit if there is a "correction" anyway.