Post #16562 by rayvt on the Berkshire Hathaway board

Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A) ❤

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Accelerates the "aging in place" phenonmenon and thus less circulation of housing for new households.

Another big reason for "aging in place" is the raft of sub-3% mortgages that retirees refinanced to a few years ago.
Ditto "staying in place" for non-retirees.

The P&I of our mortgage is $950 for a 4 bedroom detached house. The mortgage will last longer than we will. T&I brings it up to $1300.

The rent for a comparable rental would easily be several times that.
At the current mortgage rates, our payment would double. (Sucks to be Canadians whose mortgages reset every 5 years.)
We couldn't downsize as that would be a much larger not smaller payment.

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