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Do people buy houses with the goal of paying them off - and living there forever? Often, the answer is no.
Especially durign the bubble, it was buy & hold until you can dump the property at a profit. Now, maybe things are different.
Then again, maybe not.
I think Other people should stop being the sanctimonious decider of what in the Fuck other people do.
This is why can't get enough of Liberals, they just can't stop telling people what they and other people should do and behave. Almost like Republicans.
Except one party despises Gays, but they are secretly Gay, and the other party, is Flaming homo, that wants to strap everyone in a chair and make them watch Gay Porn, with their kids in the room.
Personally, I don't want a mortgage when I hit retirement age. I do want to buy a place in Cal, if I can ever find one that has what I want, but I have cash and I can sell my house to make up the difference.
The story points out one aspect that I hadn't thought of. If you die and leave your house with a mortgage, your kids can "inherit" the mortgage at its current rate, even if they don't qualify. That's a plan if your kids want the house that you're leaving behind.
Except one party despises Gays, but they are secretly Gay, and the other party, is Flaming homo, that wants to strap everyone in a chair and make them watch Gay Porn, with their kids in the room.
A solid argument, I'd say.
Well there's that, but then there's people that actually love their family, kids and grand-kids and all that.
You know, your honest, hard working, chicken sandwich loving people.
Should people age 66 and above get a fixed-rate 30-year mortgage? This is a real question which arose on PBS -- honest.
>>>Despite the implication of the PBS question, in some households 66 is not old, not elderly and not ancient or likely to be either retired or interred.
http://www.ourbroker.com/news/should-old-people-get-mortgages-082012/
#housing