Search This Blog

Friday, December 25, 2009

You have a mortgage? Oops! Maybe you can't choose where you live!

An interesting post on the ever excellent Planet Money blog points out how the recession is preventing people from moving around, as they are staying put in their mortgaged home (that might be underwater on the mortgage). What would be interesting to see is whether a whole generation grows up being less likely to own a mortgage, and preferring instead to rent. Or maybe home ownership as part of the American Dream is just too deeply embedded in the American psyche?

No comments:

Post a Comment