A Boring Dystopia

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Housing market affordability is so bad that Zillow says it will take you 13.5 years to break even on a purchase from July onward (finance.yahoo.com)

submitted 1 year ago by return2ozma to c/aboringdystopia

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[–] Poem_for_your_sprog 2 points 1 year ago (1 children)

So it takes 13 years to get out from being upside down on the loan? Yikes

[–] Moneo 1 points 1 year ago (1 children)

Not if I understand the phrase correctly. The house may be valued more than what is remaining on your loan, but you've spent a lot of money closing the house. So if you sold before the 13 years you would be able to pay off your loan but you would have lost money.

[–] Poem_for_your_sprog 1 points 1 year ago

Gotchya, so if they had 0% or low down payment they would be upside down for 10+ years.