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Owners Trapped by Low-Rate Mortgages, Buyers Thwarted by High-Rate Mortgages | investing.com
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Positively trapped, if you have no interest to sell. Enjoy your home. Negatively trapped if you want to move and now have to give up that sweet 2.5% for a 6.5% and 60% higher home prices
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Yep. If you could,.though, would you move? Or are you happy with your house for years to come? Some people may genuinely not care about moving regardless of market conditions
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Lol, right, I wouldn't mind having that issue maybe.
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Agreed. It'd give everyone an opportunity to shuffle lol
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Yes, for sure, the freedom to do so is there, but I think the word "trapped" is reflective of how many people are financially -unable- to move (as in, buying another home) because they could not afford the payments that would come with another more expensive home (higher cost higher rate). There is always the option to rent but let's just be realistic, that's expensive too and once people buy and form their families and all that they're probably not going back to renting.