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.
Making large principle payments significantly reduces the paid interest.
Also for the average price of a home and the average interest rate monthly payments are cheaper than average rent.
Having an interest rate significantly lower than high yield saving account returns significantly reduces my interest in making any extra payments.
Congratulations, though a lot of folks are certainly not in that boat.