Quote:
Originally Posted by hulkrogan
So everyone who bought during the 30/35/40 year mortgage period just got royally $*%&ed.
Good work government.
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Unfortunately that period of time likely allowed a lot of buyers into the housing market that couldn't have afforded the homes they purchased on a 25 year amortization. I'm going to guess that housing prices were higher than they would have been due to that increased demand.
So I completely agree with you. I bought on a 25 year amortization but probably paid more than I would have if the 30 - 40 year amortizations hadn't existed.