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Picklebobble2 · 56-60, M
@dirge I asked because Gen.X is now around 55-60.
So at the approximate time of arranging a mortgage (theoretically 30 years ago) jobs; careers and cost of living were reasonably stable.
But there's been so many periods of downturns; interest rate rises; company closures; recession....i just wondered if people had made it (and their homes being of same value) or if their circumstances had changed significantly
So at the approximate time of arranging a mortgage (theoretically 30 years ago) jobs; careers and cost of living were reasonably stable.
But there's been so many periods of downturns; interest rate rises; company closures; recession....i just wondered if people had made it (and their homes being of same value) or if their circumstances had changed significantly
dirge · M
@Picklebobble2 sure, I'm solidly gen x. and I'm not wildly off of having a house paid for, but there are more than a couple reasons to not have it paid off. I dunno if it works the same everywhere, but in the US you can write off your mortgage interest on taxes (at least usually. or a portion. primary residence and all that) so sometimes if there are other expenses you have coming up, it can make sense to pull money out and write off the interest. it can be a bit of a gamble, but it's something some people do. and I'm not sure how many people do the stay in the same house or even same area for 20 years. I know I didn't. although the current one is starting to push 15, I suppose.