this post was submitted on 15 Jul 2026
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If the housing market goes into the shitter...
... the renter pays less rent.
... the home "owner" still has to pay the same mortgage, and will continue to pay so they can eventually own the house (actually own it) worth a fraction of what they paid for it.
Unless you have cash on-hand to buy a house, you have to get a mortgage. So it's actually the bank that owns the house, they just let you live there while you pay back a large debt.
The reason why houses are so expensive is because they are considered investments, not just places to live. That creates a politcal incentive to keep housing prices high because a lot of people will lose that "equity" if the price of housing decreased. Most of the benefits listed under home "ownership" centers around a house being an investment.
The boomers aren't getting any younger, as more of them die, more houses go onto the market while the incentive for maintaining that equity for people that already own a house decreases. That "stability" thing listed as a benefit of "owning" a house may not hold true forever.
Exactly. I roll my eyes at the idiot home owners who are happy when real estate prices are going up. If the only real estate you own is the one your are living in, a price increase has zero benefits for you. You can sell it for a higher price, but unless you want to live on the streets, that means you buy another, which has also gone up in price. Congrats, I guess.
The only people benefiting are real estate investors, which 99% of people are not.
It mostly just means higher property tax.
Now there are opportunities to get better interest rates by taking a loan out on your house, but that's depressing. It is, however, a common thing for older people who can't live on their retirement benefits otherwise.